thejuggler
Registered User
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My wife and I are 13 years into a 30 year mortgage with PTSB. Original amount borrowed was 156400. Current balance remaining 108k. Estate agent values house at 255-260k giving us around 140k equity when moving costs are paid.
Also have savings of 50k
We are looking to move to an area where houses are more expensive so would expect our new mortgage to be for around 200k.
We have a tracker rate of 1.68 %. Have been looking into the PTSB movers mortgage which allows the user to bring their tracker rate (+1%) for the outstanding balance and to take out a mortgage at standard variables rates for the additional funds.
Is this a good deal for our situation?
We are both 40 and would be taking out the additional loan over a 20 year term.
The deal is that you get six months between selling your own property and buying another. Has anyone here been through the process and are there any pitfalls?
Also have savings of 50k
We are looking to move to an area where houses are more expensive so would expect our new mortgage to be for around 200k.
We have a tracker rate of 1.68 %. Have been looking into the PTSB movers mortgage which allows the user to bring their tracker rate (+1%) for the outstanding balance and to take out a mortgage at standard variables rates for the additional funds.
Is this a good deal for our situation?
We are both 40 and would be taking out the additional loan over a 20 year term.
The deal is that you get six months between selling your own property and buying another. Has anyone here been through the process and are there any pitfalls?
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