Hi lads,
Struggling with the basics here. I'm looking at AIB and Avant's 5 year fixed options. I've an LTV of < 50%
AIB
5 Year LTV Fixed <=50%
Interest Rate: 2.35%
APRC: 2.62%
€5.23 per '000
Avant
5 Year LTV Fixed <=60%
Interest Rate: 2.15%
APRC: 2.00%
€5.13 per '000
Question: How do I calculate the savings made over the 5 years by switching to Avant?
What's confusing me is if I should multiply by the APRC (given it's all costs) or the interest rate? .... and if APRC is all costs, in the instance of the Avant offer, how is it's APRC lower than it's Interest Rate.
Thanks
Struggling with the basics here. I'm looking at AIB and Avant's 5 year fixed options. I've an LTV of < 50%
AIB
5 Year LTV Fixed <=50%
Interest Rate: 2.35%
APRC: 2.62%
€5.23 per '000
Avant
5 Year LTV Fixed <=60%
Interest Rate: 2.15%
APRC: 2.00%
€5.13 per '000
Question: How do I calculate the savings made over the 5 years by switching to Avant?
What's confusing me is if I should multiply by the APRC (given it's all costs) or the interest rate? .... and if APRC is all costs, in the instance of the Avant offer, how is it's APRC lower than it's Interest Rate.
Thanks