Hi,
For people who meet both of the following criteria:
could they:
- outstanding mortgage balance greater than €250k and a BER of B3 or higher
I can't see anything in the above links or on the switcher info page which appears to prevent this.
- switch from another lender to a Haven fixed rate and get the €5,000 cashback, and then (a few months later)
- switch to Haven's green mortgage (2.15% fixed for 4 years)?
Has anybody here raised this possibility before? Or (like Avant) do Haven not let you break out of a fixed rate to switch to another fixed rate?
Can anyone work out a break fee. 279k.
If i Switch this month to havens 5 year fixed at 2.55% for the 5k cashback and then within a month apply to switch to their green 4 year fixed rate 2.15%.
Thanks.
Can you caculate it if its all done today at todays rates.That's impossible to calculate. No one knows what the prevailing market rate will be in the future.
That's easy, you don't need me to calculate that one. Look at D in your formula. What you're asking is the difference between today's rate and today's rate. In other words zero.Can you caculate it if its all done today at todays rates.
Remember that you will need a BER cert that is less than 10 years old and that shows a rating of B3 or higher.Thanks, it would be great to get 2.55 plus 5k then in one month switch to 2.15% 4year geeen
Don't ring them about that strategy! They may realise what you are planning and change the rules.Yes I have that, its the uncertainty of not knowing can you switch after the switch. Im going ring em.
Thanks for all the help.You can ring and ask, they might even say yes but ultimately its still there decision when you try to do it so I wouldn't be confident trying it. Anything they say on the phone is in no way binding.
They explicitly say the €5k is not available on the 4 year green when switching so I would be surprised if they would allow you sidestep that within a month by switching between fixed products. Maybe after 12 months when you are able to switch away to another provider but waiting this long runs the risk of a break fee which. The extra €3k in switching bonus would be wiped out by the extra €1.1k in interest plus the potential of a break fee. And because you would have a large balance and 4 years remaining, even a small change in market rates would result in a significant break fee. Eg. €280k x 4yr x 0.1% = €1.1k
@Interest% , you have dropped bits and pieces of your situation across multiple threads so it is hard to give you a good steer in the right direction. I think you should start a new thread with all your details to help you choose the best product for you
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