Can anyone tell me which rate is better to opt for
Tracker rate ECB+9% or variable investment rate of 3.59%. I am aware that at present the variable rate is better at present but there is know tracker option available with this particular package on investment property with NIB therefore should i be looking elsewhere
Just to give you a background. Have three properties (two consolidated into one payment mortgage with 214000 left to be paid over 18years. The value of this investment is approx 400000. The third mortgage which is an interest only mortgage is on 152000 with a value of 180000). Am switching mortgages from ACC to another institution.
Have been quoted
NIB = investment variable of
3.59% on 214000 as LTV<60% not sure what the APR on this is.
3.75% on 152000 with 3.8 APR as LTV>60%
600euro per mortgage to switch is also part of the package.
NIB do not offer a tracker rate on investment mortgages
Ulster Bank= Tracker rate offering
ECB+.85 on both mortgages not sure what the APR is on this.
evaluation fees will also be paid but no solicitors fees.