Advice on switching mortgage.

T

torress

Guest
Hello,

New to site just looking for some advice.
I am coming off 3 yr fixed mortgage with nib at 4.1% and we have looked around at some other banks and they are nearly all cheaper than nib. Would anyone have any advice of which bank has the best variable rate?
Are any banks offering to pay for legal fees, house valuation if you switch to them?
Would it be a good idea to fix again?
If i switch banks will I loose my mortgage interest relief. I have been in my house since 2005?
Does anyone know if the fixed mortgage to tracker mortgage deal is with nib or only ptsb?

Sorry if have asked to many questions in one go but any help to any question would be very much appreciated.
 
Welcome torress,

The best variable rate available to you will depend on your loan to value - that is the outstanding mortgage amount against the current value of you home. What would this be?

You will not lost mortgage interest relief if you switch providers.

The rate you revert to will be stated on the conditions of your loan offer, whether this will be to a tracker rate, fixed or variable. As you took mortgage out in 2005 you could be lucky and have the option to switch to a tracker rate.
 
Hi we also came off an NIB fixed rate and our Mortgage went up! We are in the process of switching to AIB who seem to have the best rates at present and will give 1200 towards switching costs. Our mortgage is 183000 and our valuation came in at 230000 but to be honest they didnt ask too many questions and it was pretty straight forward.
 
maggieO said:
Hi we also came off an NIB fixed rate and our Mortgage went up! We are in the process of switching to AIB who seem to have the best rates at present and will give 1200 towards switching costs. Our mortgage is 183000 and our valuation came in at 230000 but to be honest they didnt ask too many questions and it was pretty straight forward.
Click to expand...
Did you have an account with AIB? I think they only offer that 1200 to existing customers. (I could be wrong)
BOI offer upto 1k towards switching fees - (if you go direct not via broker). Their rates are pretty good - lower than AIB for LTV 50 to 80% (2.4% according to this list of mortgage rates )
 
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