Mortgage help!

the goon

Hi, I was wondering if people could give me some feedback on my situation.
My wife and I aged 28, are buying a property as first time buyers. I currently earn 25k from my job and have additional income of about 5k per annum. My salary will be increasing substantially over the next few years. My wife currently earns about 20k per annum in a new job but this should also increase over the next few years. I also have some investments amounting to about 20k.We are looking for a mortgage of 167000 and loan to value is about 60%.
Currently through a broker , BOI have offered us the following:

3 year fixed at 6.25% repayments of €1013.5 per month.
29 year variable.

I am a bit clueless but is this rate a bit high considering loan to value etc?. We both have no credit problems past or present and have very stable jobs ( I am half way through accounting exams and wife works for big American company). Any input on this would be greatly appreciated.

Ogham

Rates are rising - but that 6.25% is one of the higher ones around at the moment - especially if you're borrowing around 60% of the value of the house.
Ignore the broker and go straight to NIB - you should get a tracker rate of 4.6% there.
Also Halifax have rates of 4.75% and a 1 year discounted rate of 4.4%! Probably not for much longer though.

the goon

I was thinkingit seemed a little high. thanks for that!