4 investment mortgages to switch best rate ?

L

landlord

Registered User
Messages
1,068
I have 4 mortgages for investment properties coming off a 3.29% 2 year fix with NIB. Which banks are offering 0.75% above ECB for L to V just under 80%. Total loan required for all 4 is about 1 million. Also do they pay legal and valuation?
Thanks .....
 
For qualifying applicants, Bank of Scotland have a rate of ECB + 0.7% for <80% LTV. They don't pay the legal fees, but you might be able to work out a deal with a broker.

Liam D. Ferguson
www.ferga.com
 
If the valuations are lower than you expect - you may need to consider BOI or ICS - 85% LTV - Tracker ecb + 0.75. Not sure about paying costs on investment mortgages (I doubt it)
 
First Active and Bank of Ireland are giving me ECB +0.75

FA gave me this when I informed them I was switching to halifax and Bank of Ireland gave me that rate when I told them that FA would give me that rate.


With Halifax I wasn't too keen on the Solicitor's they proposed using for the switching. (Alternatively I could have used the €1,000 to offset against the cost of my preferred solicitor)

FA were willing top pay up to €1300 in legal fees if I switched my BoI mortgage to them.

I'll leave it for a couple of months.(I need a break!) but I might talk to NIB and see what they can do.(ECB+0.5%) looks too good to ignore
 
I'll leave it for a couple of months.(I need a break!) but I might talk to NIB and see what they can do.(ECB+0.5%) looks too good to ignore
Click to expand...

As far as I know this rate is only available for your own home, not investment properties.
 
NIB are quoting me 4.5% for own home tracker mortgage and 5.19% for investment property. I mentioned that I could get 4.7 or 4.8 for LTV <75/80% but they didn't negotiate.

Neil
 
neiltheseal said:
NIB are quoting me 4.5% for own home tracker mortgage and 5.19% for investment property. I mentioned that I could get 4.7 or 4.8 for LTV <75/80% but they didn't negotiate.

Neil
Click to expand...

I am getting 5% with NIB on investment properties, but that is only because of a group scheme and not that good any way when you consider others are offering 4.75%. They do not negotiate at all on their investment rates. They claim that their overall package including a home loan is very good. I claim that while many will switch their home loan to them because of the great rate they are offering. Many savvy investers will switch their mortgage from them because of the great rate they are not offering !!!
 
You must log in or register to reply here.
Back
Top