Nicetoknow
Registered User
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I was very surprised at the time when any lender offered sub-2% credit secured on Irish residential property for a ten-year term.Currently 4 years left on a 1.95 rate.
Sorry, there are three possibilites but they areThree possibilities
- Yes
- No
- Maybe
Consider posting a thread about your situation in the Money Makeover forum. I see that you did one a few years ago, so it could be helpful if you did another one now.I know no one has a crystal ball but I'm trying to figure out how urgent it is to get our mortgage balance down. Currently 4 years left on a 1.95 rate. Mortgage of 500,000.
If you can afford to same a little each month, then do so, and put it against the mortgage in 4 years time, when you fixed rate ends.
And the penalty capped at 2%, so if you currently have a fixed rate with Avant of more than 2%, then it's a no brainer to overpay by any amount.Avant allows borrowers to repay 10% (?) each year without penalty. The earlier you pay, the more interest you save.
if you currently have a fixed rate with Avant of more than 2%, then it's a no brainer to overpay by any amount.
Hi Mr Earl
Why wait?
Avant allows borrowers to repay 10% (?) each year without penalty. The earlier you pay, the more interest you save.
Brendan
And the penalty capped at 2%, so if you currently have a fixed rate with Avant of more than 2%, then it's a no brainer to overpay by any amount.
The OP has 4 years left on a great rate (1.95%). If she broke and re-fixed with Avant she'd have to pay 3.95% (for a 7-year fix) or 4.3% (to fix for the entire remaining term of the mortgage).Stop belly aching and just fix. Peace of mind.
thanks Paul F. yes i see your point, it does sound simplistic, i didnt mean to be-little the OPs predicament.The OP has 4 years left on a great rate (1.95%). If she broke and re-fixed with Avant she'd have to pay 3.95% (for a 7-year fix) or 4.3% (to fix for the entire remaining term of the mortgage).
Your "just fix" advice is too simplistic.
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