Switching Mortgage, which one to choose

M

MyOpia

Guest
I am thinking of switching my mortgage from Ulster bank (staggering 4.9% variable rate) to either EBS (3.63%) or BOI (3.25%, rises to 3.4% after 1 Year) but am unsure which one to choose.
I know both lenders would accept the switch, but
I am wondering if I should go for the cheaper rate in BOI or switch to EBS which had good rates in the past but are currently not as competitive.
Has anyone switched recently?
Any ideas what the better move would be?
 
Have you considered Halifax (3.25% on LTV upto 75%) or AIB 3.45% on LTV upto 80%?
Halifax and BOI offer 1000 towards switching costs (clawed back if you leave them within 5 years). AIB don't mention it on their website - but some people on here have reported AIB giving upto 1200 towards switching costs. Probably best to go direct if you wantto get these switcher offers (not through a broker).
 
AIB are giving 1200 towards legal fees still at the moment. I have a friend who works in the mortgage section of her AIB branch.
 
I know BOI will credit your account with EUR 1000 to make up for legal fees.
EBS has their own council and will take care of all legal fees and possible of the house validation too.
Reason for only considering BOI (and no other banks) is that most of my banking is there and I'd like to keep it in one place.
I am just wondering what's the better long term decision....
 
The best long term decision as far as mortgages go - is to go for the one that will cost you less.
 
irishlinks said:
The best long term decision as far as mortgages go - is to go for the one that will cost you less.
Click to expand...

True but for a number of reasons working out the cheapest mortgage over a 20 to 35 year time frame is almost impossible.
 
demoivre said:
True but for a number of reasons working out the cheapest mortgage over a 20 to 35 year time frame is almost impossible.
Click to expand...

Agreed - but going for the lowest rate available is what I meant - rather than limiting options because of where you have your current account.
 
Looking at all the available rates BOI seems to be the cheapest since I am borrowing more than 50%

Halifax 3.15% Max LTV 50%
Halifax 3.25% LTV 50 to 75%
AIB 3.25% up to 50% LTV
Bank of Ireland 3.25% Max LTV 50%
Bank of Ireland 3.25% Max LTV 80% (rises to 3.4% after 1 Year)
Halifax 3.45% LTV 75 to 90%
AIB 3.45% LTV 50% to 80%
AIB 3.65% LTV 80 to 92%
EBS 3.63% max LTV 92%
Haven 3.65% Max LTV 85%
Halifax 3.65% LTV under 50%
Halifax 3.75% LTV 50 - 75%
NIB 3.9% LTV under 60%
Halifax 3.95% LTV max 90%
KBC 3.99% Max 92% LTV
NIB 4.15% max LTV 92%

Might just go with BOI for the moment.
Thanks for all your input =-)
 
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