haventabreeze
Registered User
- Messages
- 12
We’re currently with UB and overpay our mortgage by the allowed 10% each year. Mortgage is split between to subaccounts (2.3% and 2.6%) fairly evenly so we’re paying approximately 2.45% in interest per year.
We should, in theory, qualify for the 1.95% rate with Avant.
I’m confused as to whether or not we’d be better off switching to the lower rate with no overpayments or sticking with UB for the overpayment allowance.
We’re not in a situation where we can up the Avant repayments to cover the overpayments - the overpayments are made when RSUs vest quarterly and I wouldn’t be comfortable committing to a higher repayment and speculating that stock will do well to bridge the gap over the fixed term with Avant.
Would anyone be able to advise the best way to do the sums to figure out which would be the better way to go. I keep getting muddled as there are unknowns (how would the RSUs perform if I left them alone over the term) or maybe I should still cash RSUs in but keep them in a savings account and pa a lump sum at the end of the term.
Or maybe it’s a simple as moving to Avant and getting a break fee each time we have a lump sum?
TIA
We should, in theory, qualify for the 1.95% rate with Avant.
I’m confused as to whether or not we’d be better off switching to the lower rate with no overpayments or sticking with UB for the overpayment allowance.
We’re not in a situation where we can up the Avant repayments to cover the overpayments - the overpayments are made when RSUs vest quarterly and I wouldn’t be comfortable committing to a higher repayment and speculating that stock will do well to bridge the gap over the fixed term with Avant.
Would anyone be able to advise the best way to do the sums to figure out which would be the better way to go. I keep getting muddled as there are unknowns (how would the RSUs perform if I left them alone over the term) or maybe I should still cash RSUs in but keep them in a savings account and pa a lump sum at the end of the term.
Or maybe it’s a simple as moving to Avant and getting a break fee each time we have a lump sum?
TIA