S
I don't see myself sacrificing that high a proportion of my savings although 20 k of it was recently inhereted so would be willing to pay this off the mortgage, although unsure as to take it off the term or to reduce the monthly payments and keep the term the same ..
Can mamage monthly repayments as it stands .
If you can manage the monthly repayments as they are then keep them at their current rate. That way, any lump sum overpayment will accelerate how quickly you're paying down what you owe and will save you interest. Go further - if there's another interest rate decrease in the next couple of months (as is speculated), instruct PTSB to keep your monthly repayment at the current level, which will also leave you paying off the capital more quickly.
Hi Submarine
mortgage |175
savings|35
possible net mortgage|140
House value |160
80%|128
Required to get to 80% LTV|12k
Can you raise €12k anywhere to get down to 80% Loan to Value?
If so, you should demand to be put on their new rate of 3.7%
They will refuse, but you should kick up a song and dance about it.
Brendan
Incidentally, have you read the Askaboutmoney [broken link removed]?
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