Why not move to BOI and fix for 1 or 2 yr @ 3% and get 2% cashback?Hi newirishman, just to clarify, I am currently on the prevailing existing customer vr in kbc of (i think) 3.5%. I am trying to decide which of the above ltv new customer options I should take after I get property revalued. I will be saving a significant amount over a year by taking any of these options.
I'm uncertain re if/when i will sell but my intention at the moment is to sell in 1-2 yrs time.
I wont need to the flexibility for the next 12 months as i wont be overpaying and prob wont be selling within 12 months.
Thats good to hear re the breakage fee. I am leaning towards fixing (question is for how long) because:
a) I dont need the flexibility in yr 1 but prob will need it in yr 2.
b) its a better rate than the vr.
If I fix for 1 yr, which is a good rate (2.9%), do I then need to have the house revalued again in 1 yr in order to potentially fix again or to go onto the appropriate ltv VR? If I do have to pay for another valuation then I might as well fix for 2 yrs (2.99%) and suffer the potential small break fee if I sell....hard to know....
Thanks.
Why not move to BOI and fix for 1 or 2 yr @ 3% and get 2% cashback?
Why not move to BOI and fix for 1 or 2 yr @ 3% and get 2% cashback?
Hi,If i fixed for 5 yrs at 3.05% what would be the likely break fee if i sold with 3 yrs left on the fixed? Or how do I calculate it?
You'd be talking about 3500 euro cashback, with at least half of it will be spend on the paperwork and solicitors fees. Plus getting all the paperwork together. Really worth the hassle?
OK the Op can't switch. But to answer your question. If legal fees did take half (total fees in my case were €1200) you're looking at €1750 tax free for about 8 hours work (max) all in, admittedly spread over a month. I don't know how much you get paid but it'd be worth it to me.
That's without taking into account the savings of going to the lower rate.
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