Buying a new home and have approval in principle from BOI for around €300k via a broker with an estate agent. We are looking to fix for 2-4 years. Rates have really gone up in the last 3 months.
Our LTV is under 70% / A2 BER.
Was looking at a Cashback offer from BOI for a 2yr fixed with 2% back now and 1% in 5 years time. This was based on a 3.6% rate but since last Friday this has gone to 4.1%. Because of the 0.5% rise the cashback is not now as appealing if we would save more by fixing at a lower rate.
I guess there's no point in taking a small cashback amount upfront if we end up paying a significantly higher repayment over a number of years just to get it. Although the ~€6k cashback would take some of the sting out of legal costs and furnishing the place etc.
BOI also have a 4 yr fixed BOI - 4 Year Fixed "green" mortgage which we qualify for, for 3.4%.
What are Avant like - are they reputable? any issues with them? The 3 Year Fixed (<=70% LTV) is the best I can see at 3.3%. I'm a little concerned as their rates haven't increased since Dec 22 (I think) so they may hike before we drawdown...next 6-8 weeks hopefully. Obviously, I understand things might change from the ECB and other lenders again before drawdown.
Is it possible / common to get approval in principle from multiple lenders and then choose closer to when contracts need signing (or whichever step the mortgage cheque needs to be issued at)?
Under pressure to decide as apparently BOI turnaround times are very slow at the moment, even though we have AIP from them.
Any other obvious options or deals I've missed? Thanks for any input / opinion on the above etc.
Our LTV is under 70% / A2 BER.
Was looking at a Cashback offer from BOI for a 2yr fixed with 2% back now and 1% in 5 years time. This was based on a 3.6% rate but since last Friday this has gone to 4.1%. Because of the 0.5% rise the cashback is not now as appealing if we would save more by fixing at a lower rate.
I guess there's no point in taking a small cashback amount upfront if we end up paying a significantly higher repayment over a number of years just to get it. Although the ~€6k cashback would take some of the sting out of legal costs and furnishing the place etc.
BOI also have a 4 yr fixed BOI - 4 Year Fixed "green" mortgage which we qualify for, for 3.4%.
What are Avant like - are they reputable? any issues with them? The 3 Year Fixed (<=70% LTV) is the best I can see at 3.3%. I'm a little concerned as their rates haven't increased since Dec 22 (I think) so they may hike before we drawdown...next 6-8 weeks hopefully. Obviously, I understand things might change from the ECB and other lenders again before drawdown.
Is it possible / common to get approval in principle from multiple lenders and then choose closer to when contracts need signing (or whichever step the mortgage cheque needs to be issued at)?
Under pressure to decide as apparently BOI turnaround times are very slow at the moment, even though we have AIP from them.
Any other obvious options or deals I've missed? Thanks for any input / opinion on the above etc.
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