LTV Mortgages

[brehon6789]

Hi All

I'm not sure if i have titled the post correctly but i would appreciate any advice that you may have.

At the moment i have 2 properties.

Property 1: - EBS happy with interest rate
Mortgage 210,000
Value: I reckon 400k to 420k

Property 2: - IIB unhappy with interest rate. - 4.25%
Mortgage: 100,000
Value: 400k

I'm trying to work out should i be getting a better rate on the second mortgage given that i only have a mortgage of 100k and the value of the property being 400k? If so whats involved in switching, fee's etc...

Thanks

Brehon

 

[Sarah W]

You've got a rate of ECB + 0.75% on what, I presume, is an investment property? You aren't going to get anywhere near that with another lender no matter what the LTV.

Sarah

www.rea.ie

 

[Paraic]

Hi Brehon

Are they both investment properties?
Is the 4.25% fixed?
The current ECB base rate is 3.50% so i'd check with each of the lenders what you are currently paying at the moment.

Regards

Paraic

www.obrienfinlay.ie