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Danske bank tracker mortgage

Scobyone · 2013-11-27 12:26:01

Hi, I have a tracker mortgage of less than 200k which is interest only. It's due to be paid in full in 2027. The monthly payment is small and falls further next month. It's a good news story for me. If I could pay off the mortgage with a lump sum, could I expect to achieve a write down of the amount owing and by how much?…

27-11-2013 12:26PM

#1

Scobyone

Registered Users, Registered Users 2 Posts: 23 ✭

Join Date: December 2009

Posts: 19

Hi,

I have a tracker mortgage of less than 200k which is interest only. It's due to be paid in full in 2027. The monthly payment is small and falls further next month. It's a good news story for me. If I could pay off the mortgage with a lump sum, could I expect to achieve a write down of the amount owing and by how much?
I say this considering DB exit from Ireland and the probable increased cost for them to manage/sell my contract.
And how would I calculate at what point it would make sense?
Any thoughts welcome
Thanks

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Comments

#2 27-11-2013 12:29PM

Borderfox

Registered Users, Registered Users 2 Posts: 10,265 ✭✭✭✭

Join Date: September 2001

Posts: 9766

10%

Just about to do the same with an investment property of mine before selling, all the advice I am getting is its around 10% to settle early.

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