Advise on switching mortgage to interest only

M

Muffinb

Registered User
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175
Hi there everyone,
Was thinking of changing over . Existing mortgage is about 224K on variable rate on rental, want to add 60K and remortgage so I can add extension to residential property. Am currently with PTSB but was thinking of changing to another supplier if they are cheaper, offer to pay legel fees or anything else beneficial.
Only really changing for monthly repayments value as am paying 1500 in mortgage but rent is only covering 1200 of that. Was quoted about 1100 per month by going IF and that was with the 60K addedd in! Then in year plan to sell rental anyway so it would be all covered when I sell.
Is this a good idea, any idease who to change to??

Thanks
Muffin
 
Ulster Bank will give you €1000 to switch an investment property to them so this will cover your legals.
ECB + 0.75% tracker if loan to value less than 80%.
Repayments: Interest only on 284k = €1065pm
 
Fantastic! Thanks for that will ring them now, PTSB seem to be dragging their feet with regard to sending me out paper stuff to check out anyway!!

Thanks,
B
 
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