Hi,
I know there are a number of threads that have covered this topic in some detail but can I please outline my situation and ask for some feedback.
I am deliberating at the moment over whether to fix with kbc or stay on VR.
Normally i Would be inclined to fix for maybe 3 yrs however i am planning on selling the property in 1-2 years.
O/s bal is €174k 27 yrs and value is approx €270k so ltv of 60-70%.
The new customer ltv rates in kbc With current acount discount (cant currently move bank) are:
Vr - 3.1% approx €795pm
Fix 1yr 2.9% €770pm
Fix 3yr 2.99% €789pm
So fixing for 1 yr has best monthly cost.
But if i need to break are the fees typically a lot? Also after the fixed period if i wanted to fix again or go for a better VR wouldnt i have to revalue property again? If break fee isnt typically much and if id have to revalue again after 1 yr fixed expires should i just fix for 3 yrs as its a decent rate?
I personally dont envisage rates increasing (much) in the next 1 or 2 yrs and potentially i see them reducing a bit more.
Its not really obvious to me which option i should take and any advice is much appreciated.
Jim
I know there are a number of threads that have covered this topic in some detail but can I please outline my situation and ask for some feedback.
I am deliberating at the moment over whether to fix with kbc or stay on VR.
Normally i Would be inclined to fix for maybe 3 yrs however i am planning on selling the property in 1-2 years.
O/s bal is €174k 27 yrs and value is approx €270k so ltv of 60-70%.
The new customer ltv rates in kbc With current acount discount (cant currently move bank) are:
Vr - 3.1% approx €795pm
Fix 1yr 2.9% €770pm
Fix 3yr 2.99% €789pm
So fixing for 1 yr has best monthly cost.
But if i need to break are the fees typically a lot? Also after the fixed period if i wanted to fix again or go for a better VR wouldnt i have to revalue property again? If break fee isnt typically much and if id have to revalue again after 1 yr fixed expires should i just fix for 3 yrs as its a decent rate?
I personally dont envisage rates increasing (much) in the next 1 or 2 yrs and potentially i see them reducing a bit more.
Its not really obvious to me which option i should take and any advice is much appreciated.
Jim
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