INBS fixed rate mortgage-good deal?

[Jazzy]

Hi, Im a new member, this is my first post and have been reading with interest for a while. I am in the process of securing my first mortgage (300,000) and am using a mortgage broker for this purpose.
My question is whether a 3 year fixed at an interest rate of 4.69% and an APR of 4.67% is a good rate from Irish Nationwide.
My broker has told me that some institutions have refused myself and my partner a 300,000 mortgage on the basis that I am a substitute teacher i.e. work is not guaranteed.
Any advice for our situation would be great, Cheers.

 

[Sherman]

If you've been reading other posts here for a while you'll know that there are myriad opinions on where interest rates are going to go, and that trying to figure them out is pointless - if anyone could predict the future, they'd be rich!

If your income fluctuates, it may be a good idea for peace of mind to go for a fixed repayment, that way you can budget accordingly without worrying about interest rate rises over the next three years.

Have a look at the Best Buys section on 3 year fixed-rate mortgages to give you a better idea of how competitive the Irish Nationwide offer is.

 

[gar32]

Hi there, I got a fix rate for 3 years of INBS because like you they where the only people to give me a loan. I called yesterday to ask about paying money of the loan while in a fix rate & they said penalty of E500's. I would take it but try switch to better deal ASAP which would be about a year I would say. I have to say they are not the best but they gave me the money when other would not. I could not be in my own place without them. Good luck hope you do well.