looptheloop30
Registered User
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- 42
Just to clarify I mean I like the ability to overpay aggressively aspect of Flex
Best Buy The Avant Tracker mortgage is a clear Best Buy and people should consider switching to it
- Thread starter Brendan Burgess
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looptheloop30
Registered User
- Messages
- 42
How are people feeling re Flex now with the current outlook?
I've only recently realised that Avants 10% overpayment policy is on the remaining balance and not the monthly repayment like my current BOI mortgage. That's making their fixed with 2% cashback or one mortgage 3.4% with 1% cashback a lot more appealing.
I have an application in for Flex, but think it may be prudent to apply for either a fixed or one mortgage and reassess depending on the rate ahead of drawdown just in case there's a very nasty spike. Not in a position to switch until June as there's a few moving parts that will allow me to pay a sizeable chunk of the current mortgage but not until then so cant switch prior to this.
Thinking out loud I think if Flex is over 3.4% at drawdown, the cashback alone from the other options outweighs the flexibility of Flex, especially if used to pay off a chunk of the loan immediately.
My whole reasoning for going with Flex was the ability to overpay at will but my planned overpayment will fit into the 10% of remaining balance criteria reducing the term considerably from 20odd years to 13 or 14
I've only recently realised that Avants 10% overpayment policy is on the remaining balance and not the monthly repayment like my current BOI mortgage. That's making their fixed with 2% cashback or one mortgage 3.4% with 1% cashback a lot more appealing.
I have an application in for Flex, but think it may be prudent to apply for either a fixed or one mortgage and reassess depending on the rate ahead of drawdown just in case there's a very nasty spike. Not in a position to switch until June as there's a few moving parts that will allow me to pay a sizeable chunk of the current mortgage but not until then so cant switch prior to this.
Thinking out loud I think if Flex is over 3.4% at drawdown, the cashback alone from the other options outweighs the flexibility of Flex, especially if used to pay off a chunk of the loan immediately.
My whole reasoning for going with Flex was the ability to overpay at will but my planned overpayment will fit into the 10% of remaining balance criteria reducing the term considerably from 20odd years to 13 or 14
There was a similar discussion a couple of months ago.
Switching - Avant One or Avant Flex?
Our mortgage is currently with Bank of Ireland @ 3.45% 1 year fixed with €258,000/19 years remaining on a house worth circa €650,000. Our fixed ends shortly and we are being offered 3.65% for 1 year fixed or 3.45% for 4 years fixed (other higher rates too which I won’t go into). Having read...
www.askaboutmoney.com
There's not a huge margin between rates to start. A look at the daily rates suggest the March average - which the flex rate is priced off - will see a jump.
12 months Euribor rate
12 months Euribor rate - tables and charts which show the current rates and historical rates
www.euribor-rates.eu
looptheloop30
Registered User
- Messages
- 42
Big jump to 3.47%
Anything useful here?
Avant One Mortgage - thoughts
Hi all Looking for some advice on if I should take on Avant One Mortgage for 30 years. It goes against traditional advice as circumstances change over 30 years and ECB rates are expected to decrease over the next two years. However, given the odd nature of the Irish Mortage market at the...
www.askaboutmoney.com
Switching - Avant One or Avant Flex?
Our mortgage is currently with Bank of Ireland @ 3.45% 1 year fixed with €258,000/19 years remaining on a house worth circa €650,000. Our fixed ends shortly and we are being offered 3.65% for 1 year fixed or 3.45% for 4 years fixed (other higher rates too which I won’t go into). Having read...
www.askaboutmoney.com