Are these rates high?

M

Monsoon

Registered User
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Hi

Im looking to remortgage and have been given the following offer from Halifax

LTV is 65% variable rate is 4.3, fixed 2 years 4.6 and fixed 3 years is 5.1
Amount of mortgage is 257,000

These rates look a bit high to me and am I mad for going with a bank that is pulling out of ireland?

My remortgage reason is debt consolidation (paying off a cash loan which I got to build my house many years ago) so that makes it a bit more difficult for loan approval.

Any advice is welcome please?
 
Lower mortgage rates than that around -
If your LTV is 65% (i.e the house is worth 400k?) then I can't see why any other lender would have a problem with you. Is 257k the current mortgage or is that what you are trying to top it up to?
Also - it's strange that Halifax are still offering new mortgages when they are pulling out. I would probably choose another lender if possible (you'll get better rates too). BOI still offering to pay 750 towards legal fees if you switch - but hurry - offer ends son.
 
Hi

The house is valued at 395,000. The total including top up is 257K I am having a problem because the remortgage is to pay off a single debt so Im not fitting in with their lending rules - apparently if I wanted to build and extension etc it would be more straight forward. AIB have given me a no because of this and so did First Active. I will try BOI. Thanks
 
Im now wondering if I go on the Variable with Halifax of 4.3% what happens when they pull out in May? Has anyone any update?
 
They will still operate the mortgages - but like any lender there is no guarantee about variable rates going up or down. If it's the only offer you get - you'll have to take it but try others first. (Watch out though - if you are slow - Halifax might say they are not offering new mortgages soon)

www.*****************.com
 
You might want to stick to a lender who is operating within the state.
Although AIB pulled out of the re-finance/switcher market today, there are others who will still re-finance up to 80%, and have good rate options, lower than the Halifax offer, and I would also think that Halifax/Bank of Scotland are not accepting any further applications going forward so you will have to look further a field.
 
No its Ulster Bank. have rung around and waiting on two banks to come back to me so fingers crossed - thanks for all the advice.. I will see what Im offered.
 
hi monsoon boi will not switch ur mortgage and consolidate short term debt unless ur already a boi customer. max ltv is 80%
 
Just giving an update - I applied and was refused by AIB. Am thinking about mabye trying PTSB or EBS next or Irish Nationwide to see if I can get better rates than Halifax. Has anyone got any suggestions or advice for me?
 
Hi Monsoon,

if you're additional loan is less than €40k, (the full mortgage amount being €257k) and the LTV is less than 80% you will be able to get a mortgage with KBC Homeloans. They offer competitive rates and also currently offer €1,000 towards your legal fees.

Their rates are currently;

1 year fixed 2.75%
2 year fixed 3.29%
3 year fixed 3.69%
variable 3.24%

As you can see they're a good deal better than BoSI

I am a broker and would happily deal with them for you and of course I would charge no fee for my services.

E-mail me if you have any queries.
 
Hi
Thanks Whopper for that offer. I went to EBS and they moved very fast with this - sorry I didnt post an update until now but literally got the drawdown sorted within the last week and things just moved so quickly - they were excellent to deal with so my luck changed. Many thanks for your offer of services.
 
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