I've recently been made redundant and am trying to make savings in a few places. Currently paying €1100 pm for a €182K mortgage with KBC. I'm on existing rate of 4.5%. Is there any merit in trying to transfer this mortgage to get a lower rate elsewhere. Would KBC be interested in negotiating? Not sure if banks are even accepting this at all although I see KBC are offering €1K for new business to transfer to them and their new business rates are much lower of course. Thanks for any advice!
65% LTV, mortgage transfer possible?
- Thread starter lollipop
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It depends on how much your husbands salary is and your other fixed outgoings e.g.other mortgages, childcare costs etc. They will apply the usual stress tests and then determine how affordable the new mortgage is. The best thing to do is to make an application and see what happens.
Brendan Burgess
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Did you get a redundancy payment?
You could ask KBC for a lower rate if you apply the lump sum off the mortgage. Unlikely that they will agree, but you could try.
You could ask KBC for a lower rate if you apply the lump sum off the mortgage. Unlikely that they will agree, but you could try.