Hi my mortgage is with boi . I am considering switching to Ebs. Current mortgage outstanding 264k. Rate is 3.5% variable with boi.
Property worth approximately 600k so rate would be 3.3 % (I think) if I switch but would need to reduce term as current term ends when my husband is 71.
I contacted boi who offered me a fixed rate of 3% for 3 years.
While Ebs looks more attractive, is it still worth it if I have to reduce term by five or six years?
Obviously this increases repayments. (We could afford it but i want to buy back years in my civil service pension and can't do both!)
Separately, what's the position with Ebs eg if I wish to overpay mortgage (is it same as boi)
Appreciate any views. I was previously refused a switch to kbc (about a year and half ago) because of other loans but they are paid off now.
Property worth approximately 600k so rate would be 3.3 % (I think) if I switch but would need to reduce term as current term ends when my husband is 71.
I contacted boi who offered me a fixed rate of 3% for 3 years.
While Ebs looks more attractive, is it still worth it if I have to reduce term by five or six years?
Obviously this increases repayments. (We could afford it but i want to buy back years in my civil service pension and can't do both!)
Separately, what's the position with Ebs eg if I wish to overpay mortgage (is it same as boi)
Appreciate any views. I was previously refused a switch to kbc (about a year and half ago) because of other loans but they are paid off now.