Can you not fix at a lower rate?and the remaining 40% on a SVR of 4.7%.
We sold our old house 6 years ago and the new mortgage was put onto SVR.Why is the mortgage split like that? Was it part of a restructuring after repayment problems/arrears?
To be honest I'm not sure, we're with KBC and presume we are not going to any good deal as KBC will be withdrawing shortly? What else do you need to know about financials? thanks.Can you not fix at a lower rate?
If not, you will not get a better return than paying off a mortgage of 4.7%. It's probably the best idea for you but without a picture of your wider financial circumstances it's hard to be certain.
Thank you. I'll revisit the interest rate to see if there's any negotiable space.As mentioned above you should first try to get that 4.7% down, perhaps by fixing at a lower rate. I don't know how the KBC situation impacts this but I'm sure that it's covered in other threads. After that, assuming that you have no higher cost debts, you don't need the money for something else essential and you are already maximising your pension contributions, accelerating the mortgage repayments (especially the highest rate part) probably makes sense.
Avant have options in and around the 2% mark which looks best for you.Our current mortgage is approx 260k (LTV ~60%). Approx 70% of that mortgage is on a tracker for 2.2% and the remaining 30% is SVR for 3.9% (not 4.7 as previously suggested).
And a tracker rate of +220bps is about a hundred times worse!Avant have options in and around the 2% mark which looks best for you.
If you move you lose your tracker, but +2.2bps is not a very good tracker rate!
I know the tracker isn't great. We were penalised when we moved house. I know nothing about AvantAvant have options in and around the 2% mark which looks best for you.
If you move you lose your tracker, but +2.2bps is not a very good tracker rate!
I know very little except you have to access them via a broker.I know the tracker isn't great. We were penalised when we moved house. I know nothing about Avant...who are they? Are they reliable etc?
Same with ICS. Going to look into it now.I know very little except you have to access them via a broker.
Thanks Paul. Have contacted both now so will see what happens.@Newbie! Avant are newish in the Irish market – they are backed by Bankinter from Spain.
Avant and ICS have similar rates but only Avant has the time-limited cashback offer I mentioned.
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