Not sure what you mean by FIRE here if I am being honest
Ok, everything in this post is all what I would if I was you - but its really up to yourself as to what works best for you
I would target reducing your mortgage to 21 years so you are mortgage free by 60
I would also set a stretch target of being mortgage free 5 years before that at 55 - when your eldest is likely to start university, as this would effectively be the best means of saving for university
drawdown will not be in time before the end of March when 3k deal ends.
There is a chance this will be extended or be re-initiated at a time in the future. Cash back deals are very popular at the moment and banks don't seem to be able to complete on interest rates alone - if you look at AIB for example, they have
some of the lowest
variable rates and are still struggling for market share
*Edit in bold*
lowest rate now but afraid what kind of rates will be available in 4 years time.
This is the million euro question - will interest rates be above 2.95% in 4 years time? This is the decision only you can make
My understanding is both KBC and Ulster Bank allow 10% overpayment on fixed mortgages. But these have to be regular overpayments to my knowledge and not lump sum overpayments.
So if I was you I would shorted your term to 21 years so you are mortgage free by 60, and then overpay by 10% if you can afford that.
Whether you go for the 4 year fixed term or the 10 year fixed term is personal choice as where you think interest rates will go in the next few years.
For the record, we recently fixed for 10 years with KBC.