Hi all, current UB situation situation detailed:
Current rate: 3.2% variable
Current LTV: 59%
Balance Outstanding: €258k approx
Haven: 2%
BOI: 1.9%
Been trying to switch to Haven since May, put in an application to BOI in July and got AIP from both Haven and BOI late sept. Decided to go with Haven, in the meantime BOI sent loan form to solicitor and we decided to wait for Haven. Today it transpires that Haven need more docs and instead of offering us a mortgage for 26 years as the AIP, they’re now offering for 31 years. We wanted the term as close as possible to 20 years.
I’m fed up with Haven, so spoke with broker about going with BOI, as much as I’d rather not as I don’t want to have to switch again. I cannot go through the application process with another lender, so my two (not so great) options are:
1.) Refix with UB @2.2% for 5 years
2.) Switch to BOI @1.9% for 4 years (20year mortgage offered) and overpay as much as possible to knock of another 2-3 years before the end of the fixed rate.
I’m not sure what to do but I’m leaning towards BOI. I have an account with them from 2002 and I doubt I’ll ever close it.
Will appreciate any thoughts. Thanks.
Current rate: 3.2% variable
Current LTV: 59%
Balance Outstanding: €258k approx
Haven: 2%
BOI: 1.9%
Been trying to switch to Haven since May, put in an application to BOI in July and got AIP from both Haven and BOI late sept. Decided to go with Haven, in the meantime BOI sent loan form to solicitor and we decided to wait for Haven. Today it transpires that Haven need more docs and instead of offering us a mortgage for 26 years as the AIP, they’re now offering for 31 years. We wanted the term as close as possible to 20 years.
I’m fed up with Haven, so spoke with broker about going with BOI, as much as I’d rather not as I don’t want to have to switch again. I cannot go through the application process with another lender, so my two (not so great) options are:
1.) Refix with UB @2.2% for 5 years
2.) Switch to BOI @1.9% for 4 years (20year mortgage offered) and overpay as much as possible to knock of another 2-3 years before the end of the fixed rate.
I’m not sure what to do but I’m leaning towards BOI. I have an account with them from 2002 and I doubt I’ll ever close it.
Will appreciate any thoughts. Thanks.