On ECB tracker .79
Are you sure about the ECB + 0.5% offer? ECB + 0.79% is the cheapest tracker listed [broken link removed] at the moment. If they do have a better rate and you meet any qualifying criteria (e.g. LTV and loan size etc.) then go for it!
I'm assuming that the NIB website is more authoritative/up to date that any best buys list here. Maybe I'm wrong?A margin of 0.50%(0.6% apr) is applied to the first portion of the loan up to 50% LTV
A margin of 0.60%(0.7% apr) is applied to the next portion of the loan up to 60% LTV
A margin of 0.80% (0.9% apr)is applied to the final portion of the loan up to 80% LTV.
Clubman I seen this in best deals on this homes and morgages
Yes - ECB + 0.5%. But I have no idea if NIB offer this right now and it's not mentioned on their website.so I thought where it said .50% was the rate if not what is it , thanks
Contact your lender.also is it straight forward to stop paying an interest only mortgage to pay captipal and interest instead, fixed rate up in feb for interest only then want to pay Cap and interest thanks
Thanks for the clarification on that.NIB are still offering the "LTV" rates as low as ECB + 0.5% - it's just mot listed under with the "normal" rates. You have to go to the LTV Mortgage calculator to get the full story. see [broken link removed]
You will qualify for their lowest rate of ecb + 0.5% with your LTV which is below 50%. You will have topay a valuation fee to get it formally revalued - but this should be no more than €200.
But - you mention that your "fixed rate is up in Feb" - so it sounds like you are not on a tracker at the moment but a fixed rate interest only?
I would recommend you start paying the capital back as soon as possible - talk to NIB and move on to the 0.5% LTV tracker and onto a repayment mortgage asap.
Fortnightly is better than monthly because you are chipping away at capital more regularly/quickly and so reducing your interest bill. Daily is even better if your lender calculates interest daily. This is the principle on which current account/offset mortgages are based. You can sort of model the fortnightly versus monthly repayment strategy in Kael Jeacle's mortgage calculator (read his notes though) to get an idea of the long term effects in terms of reducing overall iterest costs of the former over the latter.The fixed rate is on an investment house, PROTOCOL WHY IS FORTH NIGHTLY THE BEST
It's not unusual for this to happen - i.e. new/better rates to come along without lenders informing existing customers who qualify for them. It's obvious why they do this and depend on customers finding out for themselves and coming calling! Well done - good work!Just on to NIB and will meet them tomorrow, they said I would be entitled to get the .5 rate thet said it is a new product.I asked them would it not automatically go on to the .5 product when it was introduced and they said no.I told him I only found out throught AAM and he said that is where he gets alot of info himself.
Only if you ring up and ask if their are any better deals going tha tis the way to find out he said.
Bear in mind that there are good reasons to keep an investment mortgage interest only.
Interest only mortgage
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