Tracker mortgage transferred from kbc to boi: is the the tracker is a good option for us anymore?
Original apartment - second mortgage- rental property
1) Existing tracker margin
interest rate 5.6%
2) Amount outstanding on your mortgage: approx
150k
3) Remaining term
10yrs
4) Lender
BOI
5) Value of your home
375k
6) Might you trade up or overpay your mortgage?
No, but considering selling as we have another high mortgage on our main living space.
7) Do you face any barriers to switching? E.g. an impaired credit record, a mortgage with a warehoused portion due to a restructuring, reduced income since you took out your mortgage.
No
8) What rates are you considering fixing at? not sure.....need advice
9) Does your house have a high BER rating which might qualify it for a lower rate?
Check it here or estimate it if necessary.
BER B2
Personal details
Age: 55
Spouse’s/Partner's age: 55
Number and age of children: 3 teenagers
Income and expenditure
Annual gross income from employment or profession: 120K
Annual gross income of spouse: 90K
Monthly take-home pay: 8K +
Type of employment: professional
In general are you: saver
Summary of Assets and Liabilities
Family home worth €650k with a €310k mortgage
2nd home worth €375k with a €150k mortgage
Cash of €50K
Defined Contribution pension fund: €150K
Company shares : 0
Family home mortgage information
Lender no1: PTSB, no2: BOI
Interest rate no1: 4% ,no2: 5.6%
Type of interest rate: no1: fixed, no2: tracker
If fixed, what is the term remaining of the fixed rate?
Monthly repayment: no.1: 3.75K, no.2: 1.5K
Other borrowings – car loans/personal loans etc
none
Other information which might be relevant
Life insurance: yes
What specific question do you have or what issues are of concern to you?
no. 2 property is becoming increasing difficult to rent under higher interest rates, should we sell
Should sell up or move mortgage providers....