I would love a few opinions here. We are in the market for a first home with a budget of approx 550k.
My partner (35) and I (37) are both on c. €100k and that may increase by 10% in the new year.
I have €60k in savings, and she has €110k. We both have zero debt.
We are looking at putting 20% deposit (110k ish) on to avail of the 80% LTV deals and generally just keep our level of mortgage debt as low as possible.
Below is based on €555,000 house, €444,000 loan over 30 years.
My question:
Is PTSB a bit of a no-brainer here due to the extensive cash back?
I make it that even with paying almost €100 per month more due to extra .3% rate, we will be better off by about €4k by the end of the first 3 years. We would fully intend on switching to the best market alternative after 3 years expires (potentially paying off a lump then while briefly on a variable).
BANK | % YR | Rate | Monthly Payment | Cash Back / Legal fees contribution |
| | | | |
Avant Money | 3 yr fixed | 2.20% | 1,685 | |
Ulster Bank | 5 yr fixed | 2.20% | 1,685 | 1,500 |
KBC | 2/3 yr fixed | 2.30% | 1,708 | 1,500 |
PTSB | 3 yr fixed | 2.50% | 1,754 | 8,880 |