Hi folks,
Looking for some peoples opinions on the best course of action for me.
Took out a €250K mortgage with PTSB in 2003 on 3-Yr Fixed and then switched to variable rate. Like everyone else with PTSB, I have had the pleasure of paying up to 6.15% interest.
Recently, I've gotten a lump sum that I'd like to put off the mortgage with the effect of shortening the term by:
- putting the lump sum off the mortgage
- taking the decreased payments option
- and then agreeing to overpay when it is possible
As a frustrated PTSB customer, I would also like to make this an opportunity to break free from the punitive rates by either trying to get a new LTV rate with PTSB or by switching.
My question is really: In peoples opinion, what is the best way to approach this? Should I pay off the lump sum with PTSB thereby reducing my LTV, and then look for a better deal or switch. Is really the only sensible option?
Looking for some peoples opinions on the best course of action for me.
Took out a €250K mortgage with PTSB in 2003 on 3-Yr Fixed and then switched to variable rate. Like everyone else with PTSB, I have had the pleasure of paying up to 6.15% interest.
Recently, I've gotten a lump sum that I'd like to put off the mortgage with the effect of shortening the term by:
- putting the lump sum off the mortgage
- taking the decreased payments option
- and then agreeing to overpay when it is possible
As a frustrated PTSB customer, I would also like to make this an opportunity to break free from the punitive rates by either trying to get a new LTV rate with PTSB or by switching.
My question is really: In peoples opinion, what is the best way to approach this? Should I pay off the lump sum with PTSB thereby reducing my LTV, and then look for a better deal or switch. Is really the only sensible option?