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I could access the manage my mortgage UB platform yesterday. Today I am met the same message as @myate

Hi Paul. My sister completed a switch this year. She started the switch in March. Her old lender was PSTB. It finished in June. She had to get cert from a builder regarding an extension which added to the timeline.

How are the pensions looking? Any upcoming large expenditure (extension, new cars, kids moving away from home for college, etc.)?

Avant only want to lend in larger towns and cities.

This is actually farcical. Did they even read the document you wrote?

You can both easily afford to max your pension contribution for your age. use large pile of cash to pay against mortgage.

No. They would not.

I recently broke out of existing fixed rate, and re-fixed. Here is the timeline. May 20th - rang for break fee May 30th - second letter arrived (break fee valid until June 6th) May 31st - posted back rate selection and paid break fee over phone June 14th - rang UB, they had received paperwork...

They're saying the break fee is zero but you can't pay the lump sum against the mortgage as it's on a fixed rate still. This seems inaccurate at best. Like Brendan says, pay the lump sum. The break fee is zero. So it's immaterial whether you are on fixed or variable. There is no break fee...

I haven't checked my T&Cs but their website makes it very clear (from July last year) that the overpayment is a feature of the mortgage. I think the facility to overpay 10% per annum will remain post UB exiting the market.

Inertia. Very people switch mortgages due to the perceived hastle involved.

One thing to consider in this scenario is the free banking with AIB if your mortgage is with them. That makes it a closer decision.

For a BTL mortgage, you'll need 30% deposit. I'm not sure your 50k will be 30% of a property in the current market.

I think that depends on the financial institution. But generally 65-68years.

I think longer term and overpay is a good blend. It keeps your minimum payment lower but you can do ad hoc payments. With the ad hoc payment, use it to lower your contractual repayment rather than lower the term. (this gives greater flexibility)

Pro - lower repayment each month (help with cash flow) Con - Larger total repayment eg. 300k mortgage at 2.6% term______monthly_____________total 29 yr______1228.42_____________427,489.96 30 yr______1201.02_____________432,366.89

Not one of them commented on the formatting of the document! :rolleyes:

Thanks for that suggestion.

Sorry for dragging up an old thread! I pay into a personal pension (RAC). The option is not on the Revenue site. What's the best place to input this?

It is very likely that they would understand the abbreviations, however it's best not to assume.