Panthera Tigri
Registered User
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I want to borrow over shortest time possible even if it means stretching myself.
The reason is, with the exception of AIB, the banks are offering better value fixed rates.The best buy section recommends fixed though
The reason is, with the exception of AIB, the banks are offering better value fixed rates.
With UB, you can repay 10% of the balance early each year without penalty.
I'd agree with @RedOnion .
There's nothing wrong with a twenty-year mortgage term over a thirty-year one. Particularly if you want to retire early and have no kids or other big outgoings. Lower than twenty years would push you, although Irish banks are generally very relaxed about interest-only periods and other types of restructures if your circumstances change.
Variable rates give you the option of repaying early but at the moment the value is all in the fixed rates.
I have a one-ear fixed rate term with BoI and they allow the repayment of 10% per month without penalty. It means I'll finish paying a 30-year term about six years early.
I'd recommend a 25-year term with UB or BoI and overpay from the start. If you have extra lump sums you can bank them til the fixed-rate term ends, transfer to variable for a week, pay off the lump sum, and then revert to a fixed rate.
If you don't do anything, you will go onto the standard variable rate. However, you can chose any other rate (fixed or variable) that might be applicable for you at the time.Im looking at the UB 2 year fixed at 2.3 percent.
Can anyone tell me what happens after the 2 year period. Do you just move to a variable rate or can you go back to fixed?
Thanks
If you don't do anything, you will go onto the standard variable rate. However, you can chose any other rate (fixed or variable) that might be applicable for you at the time.
This is assuming Ulsterbank will have anything on offer of course, which seem however likely.
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