M Mackemdub Registered User Messages 87 29 May 2015 #1 now that Haven are offering a 3.5% 1 yr fix to existing customers i'm considering taking it The 1 year fixed rate is 3.5% with an APR of 4%, my current SVR of 3.97% has a 4.1% APR By my own calcs a change in rate from 3.97% to 3.5% will save me c€130pm but how would the APRs affect this? 23 years and about €522k remaining, €150pm MIR thanks
now that Haven are offering a 3.5% 1 yr fix to existing customers i'm considering taking it The 1 year fixed rate is 3.5% with an APR of 4%, my current SVR of 3.97% has a 4.1% APR By my own calcs a change in rate from 3.97% to 3.5% will save me c€130pm but how would the APRs affect this? 23 years and about €522k remaining, €150pm MIR thanks
Brendan Burgess Founder Messages 52,160 29 May 2015 #2 Don't bother with APRs when looking at fixed rate. In very simple terms. If you have 20 years left and you fix at 8% for 10 years when the variable rate is 4%, they will tell you that the APR is 6%. Brendan
Don't bother with APRs when looking at fixed rate. In very simple terms. If you have 20 years left and you fix at 8% for 10 years when the variable rate is 4%, they will tell you that the APR is 6%. Brendan
M Monbretia Registered User Messages 2,667 29 May 2015 #4 Compare the CPT, cost per thousand, what you repay for each thousand borrowed, it's the bottom line.