The requirements on the banks to notify Mortgage holders of better rates is beginning to have affectHi Brendan
Unfortunately, we have a SVR mortgage with Ptsb taken out in 2006. We have an approximate LTV value of 87% and as you can imagine, the possibility of moving banks was never an option in the past but hopefully, in the next year or two, we'll be in a position to look at other lenders.
Currently, we are paying 4.30% and our remaining mortgage balance is approx. €280,000.00. We received our Certificate of Interest from the bank yesterday (not pleasant reading!) and they appear to be offering a new 2, 3 and 5 year fixed rate of 3.70%.
The question is should we fix at this lower rate? Or, should we sit tight and wait for the SVR rates to fall (which may be the case given the world economy). I know it's so hard to tell what the future holds but any advice would be greatly appreciated.
Many thanks.
280k X 0.6% = 1,680 interest saving per year.Hi there again
How do I work out the possible savings per month after moving to the fixed rate?
Many thanks.
I know when fixed rate ends that interest rates here will likely be near 5 per cent again so that is why it is useful to get more of your capital repayments out of the way presently so you can limit the damage in the future.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?