Y
youngc
Guest
I would be grateful for your considered opinion on matters below.
Situation:
Mortgage of €250K @ 4.85% variable Tracker
Pension from last week @ €260 p/m
Max SSIA €20K this month
Current Account: €5K with AIB and €10K with RaboDirect
I intend to convert the attic
Could afford to contribute an extra €100 p/m
I do not have any loans or Credit Card Bills outstanding.
Options:
Should I fix my mortgage: 3 yrs @ 5.05% or 2 yrs @ 4.99%, I do not have a problem with the current rate rises but the previous rates quoted by the bank are better than the current ECB rises
Should I consider increasing my repayments by the €100?
I am considering putting the SSIA €20K towards the mortgage and reducing the term by 4.5 years.
I cannot renovate the house until next year so I am presume that RaboDirects @ 5% is better than Anglo-Irish 4.11@ (1yr fixed)
Questions:
If DIRT Tax is 20% then is the Net interest rate for RaboDirect (5%) 4% and AIB Regular Saver (7.1%) 5.68%?
Would I be better off putting money into AIB Regular Saver or Increase my Mortgage repayments?
If I profit more from putting money in AIB Regular Saver rather than paying back more on my mortgage, will this be diminished by inflation (5.1% today).
Outside of Shares, does anything beat the mortgage rate?
Situation:
Mortgage of €250K @ 4.85% variable Tracker
Pension from last week @ €260 p/m
Max SSIA €20K this month
Current Account: €5K with AIB and €10K with RaboDirect
I intend to convert the attic
Could afford to contribute an extra €100 p/m
I do not have any loans or Credit Card Bills outstanding.
Options:
Should I fix my mortgage: 3 yrs @ 5.05% or 2 yrs @ 4.99%, I do not have a problem with the current rate rises but the previous rates quoted by the bank are better than the current ECB rises
Should I consider increasing my repayments by the €100?
I am considering putting the SSIA €20K towards the mortgage and reducing the term by 4.5 years.
I cannot renovate the house until next year so I am presume that RaboDirects @ 5% is better than Anglo-Irish 4.11@ (1yr fixed)
Questions:
If DIRT Tax is 20% then is the Net interest rate for RaboDirect (5%) 4% and AIB Regular Saver (7.1%) 5.68%?
Would I be better off putting money into AIB Regular Saver or Increase my Mortgage repayments?
If I profit more from putting money in AIB Regular Saver rather than paying back more on my mortgage, will this be diminished by inflation (5.1% today).
Outside of Shares, does anything beat the mortgage rate?