Previously posted here and thanks to the advice landed on full FR on €350k. However, I didn't take into account the self-build drawdowns and, as best I can tell, the drawdowns mean a split FR and VR might actually be the best option. Didn't want to muddle the previous post so have calculated the below two options (1) €350k FR with cashback for one year, versus (2) €250k FR with cashback for one year and €100k VR with no cashback but the VR amount will be paid off immediately so won't require a monthly repayment.
Not wanting to have someone do my calculations for me, but does it look like I've got my figures right / wrong?
Based on my calculations over the first year:
Option 1: FR €350k mortgage repayments will be €13,165. Cashback of €7,000 means first year cost is €8,165
Option 2: FR €250k, VR €100k repayments will be €8,485. Cashback of €5,000 means first year cost is €3,485
Option 1 Calculations
Option 2 Calculations
Not wanting to have someone do my calculations for me, but does it look like I've got my figures right / wrong?
Based on my calculations over the first year:
Option 1: FR €350k mortgage repayments will be €13,165. Cashback of €7,000 means first year cost is €8,165
Option 2: FR €250k, VR €100k repayments will be €8,485. Cashback of €5,000 means first year cost is €3,485
Option 1 Calculations
Option 2 Calculations