Go Back   Askaboutmoney.com > General Financial Issues > Mortgages and buying and selling homes

Reply
 
Thread Tools
  #1  
Old 30-01-2010, 12:25 AM
nigel27 nigel27 is offline
Registered User
 
Posts: 33
Default Switch Mortgage Lenders

Hi, I am currently 3 yrs into a 35yr mortgage of 340K. I'm currently with Ultser Bank on U-First varibale rate of 3.75%. I'm looking at fixing but Ulster 3 yr is 4.30% but AIB 3 yr is 3.19% (better than my current variable rate). Would I be better off switching to AIB?
Worried rates will go up in near future for variable and fixed
Reply With Quote
  #2  
Old 30-01-2010, 12:42 AM
UFC UFC is offline
Frequent Poster
 
Location: Dublin
Posts: 276
Default Re: Switch Mortgage Lenders

If you're in negative equity you cannot switch mortgage provider.
Reply With Quote
  #3  
Old 30-01-2010, 12:49 AM
nigel27 nigel27 is offline
Registered User
 
Posts: 33
Default Re: Switch Mortgage Lenders

House value would be just above 350K. Down over 80K in 2009
Reply With Quote
  #4  
Old 30-01-2010, 12:56 AM
Renter27 Renter27 is offline
Frequent Poster
 
Posts: 197
Default Re: Switch Mortgage Lenders

It will cost a pretty penny to switch providers
Reply With Quote
  #5  
Old 30-01-2010, 10:15 AM
irishlinks
 
Posts: n/a
Default Re: Switch Mortgage Lenders

No other lender will take you on if your mortgage is more than 92% of the house value . At 350k - you are looking at 97% so not a chance really.
Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT +1. The time now is 05:59 PM.