Coming off fixed Mortgage Advice

0

005404

Registered User
Messages
23
Hi all,

Currently on fixed rate mortgage. As soon as that is finished I intend to pay off a lump sum off the capital. I would like advice on any offers etc I should look to avail of ie 2% refunds on new loans to maximise savings as a result of lump sum payment. Also my lump sum I am saving is gaining no interest currently and my fixed rate is in place until January 2020. What things should I get in order before looking for switch. Is it in essence like going through the mortgage application all over again.

Thanks for your time and help in advance as always. It's much appreciated.
 
Which bank are you currently with?
What's Mortgage balance, house value, and lump sum savings amount?
 
Hi, Ulster,266 but 250ish by Jan 2020,440,20 aiming for 100 by jan2020
 
Last edited:
Hi, the good news for you is that UB allow overpayments on fixed rate mortgages, before checking if a break fee is applicable.
From memory they allow 10% of the Mortgage amount to be repaid each year. You should avail of this rather than earning 0% on your money.

I missed the date in your first post. All of the banks only extend their cash back offers on a rolling 6 month basis or thereabouts, so nobody will know what cash back offers, if any, will be available then.

You should keep an eye on rates / offers available, and see if it's worth breaking your fixed rate early if rates go lower.
 
You must log in or register to reply here.
Back
Top