I have 4 years left of 20-year endowment mortgage. Amount of capital is 44k, current value of endowment policy is 33k. Current BOI interest rate is 4.64%.
Also I have 12 years left of home-improvement annuity mortgage. Amount remaining is 37k. Current BOI interest rate is 4.64%.
I am currently about to enter negotiations with BOI to see if they will match NIB LTV mortgage for annuity mortgage, which offers ECB + 0.5% or 3.75%.
(Probably not worthwhile doing anything with endowment mortgage)
In the event of the negotiations being unsuccessful, does anyone know how if it is possible to have 2 mortgages on the same property with 2 different lending banks, or how banks would view this?
Also I have 12 years left of home-improvement annuity mortgage. Amount remaining is 37k. Current BOI interest rate is 4.64%.
I am currently about to enter negotiations with BOI to see if they will match NIB LTV mortgage for annuity mortgage, which offers ECB + 0.5% or 3.75%.
(Probably not worthwhile doing anything with endowment mortgage)
In the event of the negotiations being unsuccessful, does anyone know how if it is possible to have 2 mortgages on the same property with 2 different lending banks, or how banks would view this?