Cheapest tracker switcher mortgage

J

Jellybear

Registered User
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I have been checking out various companies to avail of a switcher tracker mortgage. UB are covering all costs including sol. & val. Their rate above ECB rate is .95%. - My loan to value is less than 60%.
Only problem with them is that it can take up to 4 wks to get cheque -

I am very disappointed with EBS - I got quote on i-net yesterday of 1% above ECB rate but on phoning them today this rate is incorrect - it is in fact 1.25% above ECB rate - I was going to use them as they can arrange cheque in 10 days and they cover sol. costs.

Is going to UB the best option available - what do you think ???
 
Although it is technically possible, it is unrealistic to expect your cheque within 10 working days (still 2 weeks) unless you have all the necessary up to date documents to hand ie salary certificates, mortgage/bank/loan statements etc. You also need to have your life cover arranged and ammend your home insurance policy.

The 4 week time frame that Ulster Bank seems more realistic and they were probably even covering themselves for delays. Once you have all the documents required it shouldn't take any longer to arrange it with Ulster Bank than with EBS and you will be availing of a better rate with your legal fes still paid for.

I'm not saying that UB are 'better' than EBS, but you shouldn't choose the EBS simply because they are telling you that you will have your cheque within 10 days.
 
BoSI also offer a good tracker for those =<75%.

It is normally ECB +1% (currently 3.75%), but they offer a two-year discount rate of ECB +0.45% (currently 3.20%).

Not sure of time-frame, but check out their web-site for [broken link removed]
 
irishpancake said:
BoSI also offer a good tracker for those =<75%.

It is normally ECB +1% (currently 3.75%), but they offer a two-year discount rate of ECB +0.45% (currently 3.20%).

Not sure of time-frame, but check out their web-site for [broken link removed]
Click to expand...

Also, if you apply direct to BOS they will pay €1000 towards your legal fees.
 
I'm currently on a tracker with NIB (moving house and changing to fixed) but our rate is ECB +0.79% I'd assume that the cheapest over the term...unless you intend to switch again in 2 yrs and bosi don't have a clwback of some sort.
 
bambino said:
I'm currently on a tracker with NIB (moving house and changing to fixed) but our rate is ECB +0.79% I'd assume that the cheapest over the term...unless you intend to switch again in 2 yrs and bosi don't have a clwback of some sort.
Click to expand...

BoSI definitely had a clawback of their legal fees in the event of somebody switching again within 5 years, but this is no longer quoted on their web-site.

AAMOF they no longer refer to the legal fees incentive on their main switcher web-site, but do refer to it in their [broken link removed] section, which seems strange, as the normal punter would not usually look to a FAQ section to find details of incentives such as legal fees paid.

NIB are definitely the best tracker for mortgages of LTV <60% and >€100K Rate is 3.54% (3.60% APR).

See [broken link removed].
 
Thank you all for your help - we have submitted application to UB - I know that their rate of .95 above ECB rate is slightly higher than NIB but they cover all legal costs and valuation fees.

Also there is no NIB branch near me locally and we would both have to travel to arrange mort.

I checked BOSI - they have clawback built in to their policies - if we move after two years we must repay the €1K to them - and after the two years the rate above NCB is 1.25 -

I hope that we have done the right thing - hopefully it will all go through smoothly and quickly now.
 
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