Futurelookin
Registered User
- Messages
- 88
Do I understand you correctly?
You have a salary of €160k and a mortgage of €300k
Despite this you have stayed on the split mortgage although you can well afford to pay it in full?
You have an impaired credit record.
I would say that AIB would be delighted to get such customers.
Brendan
we'd now like to make the most financially sensible choices with our new situation and that includes getting the best deal to start getting our mortgage debt sorted. The kind of decision, I thought you and AAM might encourage.
Given your current conditions might you be better off staying where you are? If I've read your post right you've a guaranteed 0% on a portion of your mortgage for at least the rest of this year. How much of your mortgage is currently warehoused? If it is attracting 0% your effective rate on all your mortgage might be lower than can be offered elsewhere.
Have you thought about other providers? Ulster and KBC offer very competitive rates not too mention incentives for switching. AIB will offer €2K for switching whereas KBC will give you €3K.
With the EBS split, there is a review every 5 years. There is no requirement to take on the repayments for the warehoused part before the end of the term. It attracts no interest.
How much is in your warehouse?
How much is left on your main loan?
What is the remaining term of the loan?
Why is there a review every 5 years if there is no requirement for you to repay the warehoused amount if you can afford it?
A loan which is interest-free and repayment-free is very valuable, so unless it's a tiny proportion of the total loan, it's unlikely that you will do better by switching.
Brendan
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?