lialwarrior
Registered User
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- 30
Hi, looking for opinions please on switching mortgage provider, details below.
I am assuming fees of approximately €1000 for solicitor and €180 for valuation, also assuming we will qualify for Avant - my location is Navan, Co. Meath approximately 30 miles outside of Dublin. I receive free current account fees as part of my mortgage now. I could pay a lump sum of €10K from savings right now, which I guess I should consider doing.
We am not adverse to locking in for 5 year, however, it would be nice to have the option to be able to overpay a percentage of the mortgage e.g. 10% (if my funds allowed it in the future).
Existing Joint Mortgage Details
Current Mortgage = €233K
Years remaining = 19 (May 2041)
Monthly repayment = €1,295.25
House value = €550k
Current rate = AIB (variable LTV<=50%) 2.75%
Current account NO FEE MORTGAGE worth approx. €150 / year
Option 1
I can easily switch to AIB PHD 3Yr LTV Fixed <=50% @ 2.35% - There would be no direct expense to me by doing this e.g. solicitors or valuation fees and will maintian free current account fees.
Option 2
Switch to Avant 3 or 5 Year LTV<60% @ 1.95%
Solicitors fees ~ €1000
Valuation fees ~ €180
Loss of free current account fees ~ €150/yr multiplied by length of contract
Option 3
Switch to KBC 2 / 3year fixed rates @ 2.25% with a KBC Current Account based on an LTV of <=60%
Free current account fees if we mandate salaries to the KBC Current Account.
€3000 cashback
Option to overpay mortgage by up to 10% per year
Solicitors fees ~ €1000
Valuation fees ~ €180
Many thanks in advance.
I am assuming fees of approximately €1000 for solicitor and €180 for valuation, also assuming we will qualify for Avant - my location is Navan, Co. Meath approximately 30 miles outside of Dublin. I receive free current account fees as part of my mortgage now. I could pay a lump sum of €10K from savings right now, which I guess I should consider doing.
We am not adverse to locking in for 5 year, however, it would be nice to have the option to be able to overpay a percentage of the mortgage e.g. 10% (if my funds allowed it in the future).
Existing Joint Mortgage Details
Current Mortgage = €233K
Years remaining = 19 (May 2041)
Monthly repayment = €1,295.25
House value = €550k
Current rate = AIB (variable LTV<=50%) 2.75%
Current account NO FEE MORTGAGE worth approx. €150 / year
Option 1
I can easily switch to AIB PHD 3Yr LTV Fixed <=50% @ 2.35% - There would be no direct expense to me by doing this e.g. solicitors or valuation fees and will maintian free current account fees.
Option 2
Switch to Avant 3 or 5 Year LTV<60% @ 1.95%
Solicitors fees ~ €1000
Valuation fees ~ €180
Loss of free current account fees ~ €150/yr multiplied by length of contract
Option 3
Switch to KBC 2 / 3year fixed rates @ 2.25% with a KBC Current Account based on an LTV of <=60%
Free current account fees if we mandate salaries to the KBC Current Account.
€3000 cashback
Option to overpay mortgage by up to 10% per year
Solicitors fees ~ €1000
Valuation fees ~ €180
Many thanks in advance.
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