Switch Mortgage Lenders

Discussion in 'Mortgages and buying and selling homes' started by nigel27, Jan 29, 2010.

  1. nigel27

    nigel27 Registered User

    Posts:
    33
    Hi, I am currently 3 yrs into a 35yr mortgage of €340K. I'm currently with Ultser Bank on U-First varibale rate of 3.75%. I'm looking at fixing but Ulster 3 yr is 4.30% but AIB 3 yr is 3.19% (better than my current variable rate). Would I be better off switching to AIB?
    Worried rates will go up in near future for variable and fixed
     
  2. UFC

    UFC Frequent Poster

    Posts:
    275
    If you're in negative equity you cannot switch mortgage provider.
     
  3. nigel27

    nigel27 Registered User

    Posts:
    33
    House value would be just above €350K. Down over 80K in 2009
     
  4. Renter27

    Renter27 Frequent Poster

    Posts:
    197
    It will cost a pretty penny to switch providers :)
     
  5. irishlinks

    irishlinks Guest

    No other lender will take you on if your mortgage is more than 92% of the house value . At 350k - you are looking at 97% so not a chance really.