Thanks everyone. Some good points for us to consider. I heard back from our BOI rep and the 2% is available for all mortgages/rates offered as long as the funds are drawn down by 31/12/15. And yes, it will be clawed back if we switch within 5 years. At this stage, we're leaning towards KBC. It seems like a better bet in the long-term.
Thanks again.
At this stage, we're leaning towards KBC. It seems like a better bet in the long-term.
.
Thanks everyone. Some good points for us to consider. I heard back from our BOI rep and the 2% is available for all mortgages/rates offered as long as the funds are drawn down by 31/12/15. And yes, it will be clawed back if we switch within 5 years. At this stage, we're leaning towards KBC. It seems like a better bet in the long-term.
Thanks again.
We have decided to go with KBC for a number of reasons. They have confirmed that the discount of 0.2% applies to the lifetime of the mortgage provided we have a current account with them with mandated salary. Comparing their discounted variable rate with BOI, after 3.5 years we will have saved the equivalent of the 2% cashback (assuming rates stay the same) versus 5 years at the mercy of BOI. And should variable rates drop and KBC become less competitive, we have the option to switch. With BOI, we don't.
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