Hi there,
We are in the process of switching mortgage and I'm weighing up the options for whether we should top-up the mortgage amount to clear a credit union loan.
Is there a general consensus as to when this is a good idea or not?
Mortgage circa 30 years remaining, €290,000, circa €1,200 per month.
CU loan is circa €12k, €240 per month for five years. This was for home energy upgrades, had to take a credit union loan to avail of particular SEAI / REIL scheme.
Both repayments are affordable, will be getting some cashback from the switch and looks like we can add the CU loan to the mortgage and still end up with a reduced monthly payment.
Thanks