eyesgreen_1
Registered User
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Im planning to start overpaying my mortgage with lump sums and/or possibly monthly overpayments. I'm presently on a fixed rate of 3%. I've been offered 2.9% fixed and variable 3.30%.
Mortgage balance: €58,965
Remaining Term: 13 years
Repayments €452
Questions:
1. Ive been quoted low breakage fees (€36) so am I better to move to 3.30% variable rate or take fixed 2.9% option and just break when I need to pay off a lump sum and re-fix again?
2. In the long run is it there much financial difference in paying off lump sums or better to pay a consistent monthly overpayment, or both?
3. Overall, with these figures, which is the best financially prudent strategy?
Many thanks
Mortgage balance: €58,965
Remaining Term: 13 years
Repayments €452
Questions:
1. Ive been quoted low breakage fees (€36) so am I better to move to 3.30% variable rate or take fixed 2.9% option and just break when I need to pay off a lump sum and re-fix again?
2. In the long run is it there much financial difference in paying off lump sums or better to pay a consistent monthly overpayment, or both?
3. Overall, with these figures, which is the best financially prudent strategy?
Many thanks