Interesting as my fixed term with UB is finishing next month. 3.6%, 20 years remaining, €162,000 balance and UB's value indexing calculator values the house at €404,000 (about 40% LTV) but a local valuer said we'd sell for maybe €350,000 (46%). I'm 45yo so 25 years until mandatory retirement. I live within 30km of the Co. Dublin border. Clearly a benefit of moving to a 1.95% rate.
Here's the question though. Within the next two years we are looking to extend the property significantly. If I use very rough numbers, the borrowing for the extension could be in the region of €180,000. Finger in the air would say the property may increase in value to the tune of €100,000.
Using those numbers, house value of €450,000 (using the lower of the house values) and a mortgage of €342,000. LTV of around 76%.
Anyone know what happens here with Avant? Would we pay the full 342k @ >70% LTV rate? Could we keep the initial €162k @ 1.95% and borrow the additional €180k at their >70% LTV rate?
Here's the question though. Within the next two years we are looking to extend the property significantly. If I use very rough numbers, the borrowing for the extension could be in the region of €180,000. Finger in the air would say the property may increase in value to the tune of €100,000.
Using those numbers, house value of €450,000 (using the lower of the house values) and a mortgage of €342,000. LTV of around 76%.
Anyone know what happens here with Avant? Would we pay the full 342k @ >70% LTV rate? Could we keep the initial €162k @ 1.95% and borrow the additional €180k at their >70% LTV rate?