Switch my Mortgage?

G

Glenkar

Guest
Hi all, looking for some advice?

Our Current Fixed rate Mortgage @ 3.29% is up in October with Ulster bank? Around 250K left over 30 years

Is it best to stick with another fixed rate?
Change to a variable tracker rate or try switching our mortgage completely?

Comfortable with current repayments

Any advice welcome!

PS great site :)
 
Regarding the fixed versus tracker/variable rate question see the many existing threads on that topic for some background on the sort of issues to consider when making a decision. I'm not sure if you're also asking if you should switch lenders but if you can get a better deal elsewhere then by all means do.
 
Thx clubman will look through the threads, as there has been quite a number of hikes since we went with fixed a couple of years ago? have a few weeks to decide

cheers
 
Sorry - I don't understand the question that you seem to be asking in your second post.
 
3.29%?? Thats way less than ECB rate. Your new mortgage rate, at the present time, will rise to around 5% minimum (fixed, tracker or variable). Shop around or use a broker
 
Glenkar- What is the value of the house (approx)? - that will affect the rate you will get with most lenders.
 
How much is your house worth? Tracker rates are generally based on the value of your house, we are on a fixed rate so makes no difference to us but if I was going variable the cheapest we were quoted was ECB + 0.5% being 4.5% at the mo.
 
Vaule of house currently at 400K, only 3 years into 30 loan :(

I assume once your fixed rate is up bank will automatically transfer you to their current variable rate???

I'll check with bank what my options are!

Bambino qoute " was going variable the cheapest we were quoted was ECB + 0.5% being 4.5% at the mo." which bank was this?
 
BOSI Tracker - 0.7% above ECB, so currently 4.70%

Monthly repayment - €1,349

Monthly repayment (after tax relief) - €1,249



This is your best rate. (unless you opted for discounted tracker with AIB) You haven't enough equity for the .5 above ECB rate that Bambino quoted.

If you need quotes on Fixed Rates or Variable Rates, just let me know.

Thanks,

J
 
As posted many times before and mentioned here http://www.askaboutmoney.com/showthread.php?t=60328
NIB offer the best tracker rates for people with less than 80% owing on their house. (aprart from the few short term discounted rates)
You would get ecb plus 0.53% from NIB (4.53 currently) APR of 4.62
Monthly 1270.88 before tax relief. Over 30 years
You might be better reducing the term of the mortgage a few years - say down to 27.
Call NIB direct 1890 818 800

I have no connection with NIB - just fed up that borrowers might be missing out on the lowest rates because they rely on brokers to advise them.
 
irishlinks said:
As posted many times before and mentioned here http://www.askaboutmoney.com/showthread.php?t=60328
NIB offer the best tracker rates for people with less than 80% owing on their house. (aprart from the few short term discounted rates)
You would get ecb plus 0.53% from NIB (4.53 currently) APR of 4.62
Monthly 1270.88 before tax relief. Over 30 years
You might be better reducing the term of the mortgage a few years - say down to 27.
Call NIB direct 1890 818 800

I have no connection with NIB - just fed up that borrowers might be missing out on the lowest rates because they rely on brokers to advise them.
Click to expand...


i completely agree, somehow people seem to diregard their offer, go to their website and there is a calculator, for a 400,000 euro house with 250,000 loan at 27 years payments are 1,338.35 before TRS. i have no conncetion with NIB either
 
I've an Ulster Bank tracker mortgage. I had my home revalued recently, the loan-to-value ratio had dropped a lot in the two years since I bought the house.
I'm now on a 4.75% rate. Ask Ulster Bank what they can do for you.
 
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