So your average rate is 3.76% which means that 3.5% should save you c. €26 p.a. per thousand or €2.17 p.m. per thousand (so I'm guessing that your loan balance must be c.
At the very least tell BoI you're considering moving to save money and see what they say.
Why won't BoI let you fix at 3.6%?
If you are overpaying then it makes more sense to overpay the portion at 3.97% before the portion at 3.65%.
Don't forget that KBC also offer a 50% reduction in home insurance premiums for 12 months - that should also be worth a few bob.
That makes no sense to me.I was moved from IBRC to BOI and I was told the interest rate I am on is better than she could offer, if I was on a BOI interest rate I would be over 4%.
Even with a discount some home insurance can be much more expensive than what's available elsewhere.I actually already have home insurance with them, I have a credit card and savings and they offered me great deal to take out the home insurance as well....trying to see now if I do take out mortgage if they will give me cheap home insurance next year
I actually already have home insurance with them, I have a credit card and savings and they offered me great deal to take out the home insurance as well....trying to see now if I do take out mortgage if they will give me cheap home insurance next year
That makes no sense to me.
You're on lower than that at the moment.
And BoI offer 3.6% fixed for 2-3 years to existing borrowers with an LTV < 80% which is you.
Unless they don't treat former IBRC customers the same as other existing customers...
Even with a discount some home insurance can be much more expensive than what's available elsewhere.
Make sure to shop around, make sure to insure for the rebuilding cost not the market value, make sure to avoid any unnecessary bells and whistles etc.
I shop around for everything, when I got onto KBC they where about 10 euro more expensive than the other quotes I had(I had rang all the other providers). After I told them I was a customer etc.....girl put me on hold, came and offered me nearly 100 under everyone else. Now I can't argue with that.
I love hearing stories like that.
You do realise that you are in danger of being held up as a role model!
Fair point - I overlooked the issue of making accelerated capital repayments.I'm not sure I understand why a borrower that hopes to make accelerated capital repayments would ever chose a fixed rate mortgage @3.6%, rather than a variable rate @3.5%, without some other compelling incentive (or an uncanny ability to predict future interest rate movements!).
Well done - if only more people would do this so that customers in general played their full part in the free market.haha, I do shop around for everything, insurance/TV/BB/phone etc. If the company is not willing to do a bit of negotiating then I just join a rival.
Always take hour or so doing some research on internet, have competition prices wrote down and ready to use when I ring companies.
Always worth ringing them as well and quote online deal and see if they will do anything better on phone as usually person on phone is on commission. Nobody gets paid most of the time if you register onlineit goes straight into company pockets
The mortgage is the only thing I have never really negotiated for, not really sure why as it is the biggest bill I have.....not too late to start now anyway
Never pay full price unless you really have to.....
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