Kevin198823
Registered User
- Messages
- 5
Hi,
I recently went sale agreed and I'm about to submit my application for a loan offer, the mortgage amount will be €535k. I have 2 options.
1. 4 year fixed rate at 3.7% which will give me repayments of €2,463 per month with no cash back
or
2. 2 year fixed rate at 4.4% which will give me repayment of €2,679 per month with 2% cashback (€10,700)
My thinking is if we taken option 2 that will cost us an additional €5,184 over 2 years for €10,000 up front. In two years when interest rates fall I should be able to change to a different interest rate. Am I missing something here or is option 2 the best option?
Thanks in advance
I recently went sale agreed and I'm about to submit my application for a loan offer, the mortgage amount will be €535k. I have 2 options.
1. 4 year fixed rate at 3.7% which will give me repayments of €2,463 per month with no cash back
or
2. 2 year fixed rate at 4.4% which will give me repayment of €2,679 per month with 2% cashback (€10,700)
My thinking is if we taken option 2 that will cost us an additional €5,184 over 2 years for €10,000 up front. In two years when interest rates fall I should be able to change to a different interest rate. Am I missing something here or is option 2 the best option?
Thanks in advance
Last edited: