Existing tracker margin - 1.05% + ECB
What rates are you considering fixing at - As low as possible over 10 Y 2.4%
If switching, I'd move it to AvantMoney to get the best possible rate. Nonetheless, I don't think right move when comparing.Ulster Bank's 10 year rate is 2.8% . Where are you getting 2.4%?
Brendan
Certainly will have a look at this post. I'm not looking at the repayment figure, more so the total interest that I could have to repay over the remaining term. I've done the figures out myself and no matter what, it seems that sticking with the Tracker is more than likely the right call given the term remaining and reducing capital each year even if the interest rate potentially rises to 4.8%. It may very well only rise to mid 3's and could potentially fall again over the next decade.Sorry firewire
I have written extensively why you should not look at repayments, but look at the interest rate. The repayments are misleading
Key Post - How to evaluate if it's worth fixing, switching or breaking out of a fixed rate
Almost every post on this topic is wrong. No matter how often it is pointed out, people look at the wrong figures. They use mortgage calculators when they don't need them. Most of the time, you can do the figures in your head. Do not look at the monthly repayments – they are misleading. Do not...www.askaboutmoney.com
So I won't begin to unpick your calculations.
If you want to discuss that do so in the thread above but not in this thread.
Brendan
Lender - UB moving to AIB possibly
If switching, I'd move it to AvantMoney
If I fixed today at that best available rate of 2.4% with Avant my monthly repayment would be €998 and I'd pay a cumulative interest of €28,106
Might you trade up or overpay your mortgage - Probably not but if circumstances allow would overpay
I see why you think that...I have to say that this is really confusing.
You talk about repayments, and then say that they are not relevant.
You talk about switching to AIB but you mean Avant.
But you are raising an interesting point, I think. So I will study it in more detail later.
I am getting €113,000 @ 2.4% fixed for 11 years = €15,683 interest.
Where are you getting €28,106?
I think you have the patience of a Saint.
Found my error. Now getting €15,540 for 10Y 10M - close enough for my cals LOL...I am getting €113,000 @ 2.4% fixed for 11 years = €15,683 interest.
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