Leighlinboy
Registered User
- Messages
- 139
Thanks BrendanHi Boy
If you are trading up in the new year, I would keep things simple and not change anything. Then when you are trading up, you can shop around for whatever the best deal is at the time.
The alternative is to fix now with Finance Ireland. You could bring that mortgage with you and borrow the balance at their then mortgage rates. Just not sure how all this works in practice. If you sell first, must you buy the other house within 6 months? What if the LTV is above the original LTV you drew the mortgage down at?
Brendan
- Finance Ireland's 10-year and longer fixed rates allow you to "take your mortgage with you" if you move home – meaning that you get to keep the same interest rate, and they will waive or refund any break fee (subject to certain conditions).
The alternative is to fix now with Finance Ireland.
- Finance Ireland's 10-year and longer fixed rates allow you to "take your mortgage with you" if you move home – meaning that you get to keep the same interest rate, and they will waive or refund any break fee (subject to certain conditions).
You could bring that mortgage with you and borrow the balance at their then mortgage rates.
@Leighlinboy Therefore, you will not be eligible for the "take your mortgage with you" benefit of Finance Ireland's long-term fixed rates if you trade up in the new year. But if this feature interests you, you could talk to them and see if they would make an exception.You must be at least 3 years into your fixed rate period to transfer your rate.
Within three months, in fact. See the above webpage.Just not sure how all this works in practice. If you sell first, must you buy the other house within 6 months?
That situation is not explicitly covered in the above webpage. I wonder if they use the rate for the higher LTV bracket as it was when you first fixed with them?What if the LTV is above the original LTV you drew the mortgage down at?
You must be at least 3 years into your fixed rate period to transfer your rate.
Hi Brendan/PaulFrom Finance Ireland's webpage:
@Leighlinboy Therefore, you will not be eligible for the "take your mortgage with you" benefit of Finance Ireland's long-term fixed rates if you trade up in the new year. But if this feature interests you, you could talk to them and see if they would make an exception.
Within three months, in fact. See the above webpage.
That situation is not explicitly covered in the above webpage. I wonder if they use the rate for the higher LTV bracket as it was when you first fixed with them?
@Leighlinboy When you posted your mortgage details in the switcher thread, you quoted a different, non-tracker interest rate. How come?
Hi Brendan/PaulFrom Finance Ireland's webpage:
@Leighlinboy Therefore, you will not be eligible for the "take your mortgage with you" benefit of Finance Ireland's long-term fixed rates if you trade up in the new year. But if this feature interests you, you could talk to them and see if they would make an exception.
Within three months, in fact. See the above webpage.
That situation is not explicitly covered in the above webpage. I wonder if they use the rate for the higher LTV bracket as it was when you first fixed with them?
@Leighlinboy When you posted your mortgage details in the switcher thread, you quoted a different, non-tracker interest rate. How come?
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