illingworth22
Registered User
- Messages
- 6
You have one problem and that is the fact that you are near retirement. You may only get a loan till 2028 which means you need to pay a higher monthly cost than now but will finish sooner. If you borrow 120k at 3.2% (AIB) over 12 years (till 2028), your repayments at the moment will be €1004 a month. Assuming all things equal you are currently paying around €850 (just putting the figures you mention into Karl's calculator 120k outstanding) but you will be paying this for an extra five years till 2033.
That is exactly it unfortunately but they give you a sweetener of 2k I believe to more than cover legal costs. Try to get the same solicitor you used before and negotiate the fee.I just contacted AIB and asked what I need to do, it sounds like a full repurchase again, I need to submit pay slips and all the usual stuff.
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