This offer from KBC has intrigued me. My mortgage is currently with BOI, and is a SVR of 4.05%. We have a house in Dublin with about €281,000 left to pay on the mortgage, and the house is worth about €480,000 now with the recent price rises in Dublin. This gives us a LTV of 58%.
I rang KBC today, and they offered me a switcher mortgage with a rate of 3.65%, if I switched my current account to them. This would result in my monthly mortgage payments dropping from €1436 to €1337, almost €100 a month less. I would have to pay current account fee, but this is only €6 a quarter. They pay €1000 towards the legal fees, and throw in 1 year free house insurance.
With a saving of €100 a month, it would seem like a no brainer to switch to KBC, but I am wondering down the road would they hike rates? Like Danske did? What do people think? I suppose we could switch to them, and then switch again to someone else if they hike the rates?
I rang KBC today, and they offered me a switcher mortgage with a rate of 3.65%, if I switched my current account to them. This would result in my monthly mortgage payments dropping from €1436 to €1337, almost €100 a month less. I would have to pay current account fee, but this is only €6 a quarter. They pay €1000 towards the legal fees, and throw in 1 year free house insurance.
With a saving of €100 a month, it would seem like a no brainer to switch to KBC, but I am wondering down the road would they hike rates? Like Danske did? What do people think? I suppose we could switch to them, and then switch again to someone else if they hike the rates?