Hi all, had a conversation with a friend today about my mortgage options and would like to hear everyone’s thoughts.
I’m with UB fixed until Sept 2023 (LTV 65% with approx €262K balance) and just found out that Haven are given switchers €5000 on mortgages over €250K (excluding green mortgage) with LTV <=70% until Dec 2022. I was quoted 2.6K break fee last month by UB.
As the Haven offer is open until the end of the year, my plan is to wait for my break fee to reduce and then switch to Haven around Sept/Oct.
Friend suggested instead of doing that, I can switch to PTSB variable rate, get the cashback being offered and within 3-4 months switch to a different lender (as I will be on a variable rate so will not be tied down). I’ve never switched before, is this still a thing, what would you make of the suggestion and what are the potential pitfalls? I’m quite risk averse, currently on maternity leave (back in the summer). Any wise words will be appreciated.
I’m with UB fixed until Sept 2023 (LTV 65% with approx €262K balance) and just found out that Haven are given switchers €5000 on mortgages over €250K (excluding green mortgage) with LTV <=70% until Dec 2022. I was quoted 2.6K break fee last month by UB.
As the Haven offer is open until the end of the year, my plan is to wait for my break fee to reduce and then switch to Haven around Sept/Oct.
Friend suggested instead of doing that, I can switch to PTSB variable rate, get the cashback being offered and within 3-4 months switch to a different lender (as I will be on a variable rate so will not be tied down). I’ve never switched before, is this still a thing, what would you make of the suggestion and what are the potential pitfalls? I’m quite risk averse, currently on maternity leave (back in the summer). Any wise words will be appreciated.