Brendan Burgess
Founder
- Messages
- 52,119
I have been on contact with KBC on this, and they have informed me that if I am keeping my LTV band the same, I do not need a new valuation done. Maybe this is because I had reasonable headroom in my original valuation, or maybe because the valuation is quite recent (~18 months old), but it is worth checking with them
I need to go through the detailed T&C's on the proposal.
But I do share Sarenco's concern as to the numbers who will avail of this, an also continue to avail of it each time a rate change occurs (which I do find strange and not in line with a variable rate)
As I called them again today as had not yet received a callback and was told that I would have to get a new valuation done and there are no exceptions!
I was told that I would have to get a new valuation done and there are no exceptions! ...The LTV was circa 33% when we drew down originally in early 2015 and it is now circa 25% (not including any increase in property value).
My question is this, I'm on 3.3% at the minute, 60-80% LTV. Should I stay on variable rate which would drop to 3.1% or should I opt for the 1 year fixed rate at 2.9% (inclusive of 0.2% current account discount)? If rates drop again within the next year and I have to pay another €127 for a new valuation it wipes off any savings I'll have made.
I certainly wouldn't switch to any form of fixed rate as they very specifically say in any fixed rate instructions that you go to standard variable rate after fixed rate is over and give the current variable rate as an example.Think it has been advised to put any switch on hold.In a similar situation myself.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?