Is BOI right switch

[Tinney78]

Hi all.
Outstanding mortgage-255000
House value 500k-510k
Currently AIB svr 3.175 from December.
Looked at switching and fixing. Going through UB at moment proving to be painfully slow due to advisor showing no interest. Would Boi be better option?? 3% fixed with cash back for 3 years.
Any help or advice appreciated

 

[Boyd]

IMO you need to get the house valued, as you are teetering on the 50% LTV, which is very important, rate-wise. Assuming you get under the 50%, see this page for an analysis for <50% LTV: https://www.askaboutmoney.com/threa...e-the-lowest-mortgage-rates-available.205864/

Seems BOI would seem to be the best option (if you want to fix), factoring in the 2% cashback upfront (you only get the extra 1% until after 5 years)

If you want to go variable, AIB would be best option at 2.75%. This would allow you to overpay as much or as little as you want.

 

[RedOnion]

Another poster in a similar position last week, with some brief comments between the BoI & UB rates (link below).

BoI have removed the LTV bands from fixed rates, and the UB fixed rate is up to 80% LTV but requires you to switch your current account also.

https://www.askaboutmoney.com/threa...e-now-available-for-ftbs-up-to-90-ltv.205892/

 

[Tinney78]

Thanks guys. If we take up the AIB offer of 2.75% we cannot avail of any other better ltv rates in the future that they might offer. With BOI 3 year fixed its working out approx €34 pm more expensive. But with cash back offer of €5100 we are up money even after legal fees. Is this correct way to assess things.