ivannomonet
Registered User
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- 86
Wonder what the overpayment T&Cs are?This is a really interesting product. 2 features that stand out to me:
1. You can keep the rate if you move house during the period.
2. As your LTV decreases over time, you benefit from the lower rate applicable for that lower LTV.
20 years fixed from 2.6%.
They've also announced 10 & 15 year rates.
Yes, will be interesting to see. They allow 20% overpayment per annum on their existing products, so will be interesting to see if they continue that.Wonder what the overpayment T&Cs are?
It's in the IT article linked above, though not very clear:Hi Red
Where are you getting this information?
Are you saying that if you fix today at <70% for 2.75% and house price rises bring your LTV to <60%, your rate changes to the <60% rate of 2.6%?
Brendan
They'll still have to take account of the difficulty of repossession. This hasn't changed, even though mortgages which originated post 2012 are much better quality of course.the 2008-2010 crash fades from ECB historical modelling
I think this is a fundamental difference in the irish market which blocks us achieving rates available in other countries. Would informed people agree? I suppose it becomes less relevant if entire developments are now going to be bought by institutions.They'll still have to take account of the difficulty of repossession. This hasn't changed, even though mortgages which originated post 2012 are much better quality of course.
10 year rate is not that competitive compared to Avant's 7 year. Good innovation for the market though.
The product is obviously intended to be profitable, so does it not suggest that they predict rates to continue to reduce- in which case it might be time to not lock into a 10 year plan?
Would you still love the idea if 3 to 5 years into your 20 year fixed rate the variable rate dropped below the fixed rate and stayed that way???I love the idea of the surety of my mortgage cost, at a "decent" rate gives me over that time
Would you still love the idea if 3 to 5 years into your 20 year fixed rate the variable rate dropped below the fixed rate and stayed that way???
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