My house is worth €250,000 and mortgage is €300,000. Have an excellent tracker of .6 %. We live in dublin city, have very little disposable income and house is too small for family , so considering moving to the country for a cheaper and bigger house.
Our current mortgage repayments are about €900 per month, if I get a NE trade down mortgage with AIB interest rate will be 1.6 %.
So my question is, what is the most I could spend on a house to make a significant difference to my disposable income? E.g. Is buying a House @€150,000 + NE of €50,000 = €200,000 @ 1.6 % much better than house @ €300,000 @ .6 % ?
Thanks
Our current mortgage repayments are about €900 per month, if I get a NE trade down mortgage with AIB interest rate will be 1.6 %.
So my question is, what is the most I could spend on a house to make a significant difference to my disposable income? E.g. Is buying a House @€150,000 + NE of €50,000 = €200,000 @ 1.6 % much better than house @ €300,000 @ .6 % ?
Thanks