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Best Interest rates on Table

  • 20-05-2015 8:04pm
    #1
    greenhouse
    Registered Users, Registered Users 2 Posts: 11 ✭


    We are mortgage approved and are qualified for LTV.
    Below are what is on the table:
    1 year fixed – 3.5%
    2 year fixed – 3.6%
    3 year fixed - 3.65%
    4 year fixed – 3.75%
    5 year fixed – 3.8%

    Standard variable – 3.97%

    Loan to value variable 3.8%

    If we went for X year fixed, we will lose LTV and revert to SV rates once X year fixed expires.

    What you guys think would be best deal, should I go for LTV or X year fixed or SV?
    Regards,


Comments

  • #2
    jayjay2010
    Registered Users, Registered Users 2 Posts: 505 ✭✭✭jayjay2010


    I'm in the same boat. Tough decision.

    I originally chose variable. Then 5 year fixed. Now I've changed back to variable.

    Your rates are the exact same as mine so I assume you are banking with EBS? I am going variable because of the new business discount @ 4.00%

    And also having the facility to overpay in lump sums appeals to me, as this will reduce the overall interest over the years.


  • #3
    greenhouse
    Registered Users, Registered Users 2 Posts: 11 ✭greenhouse


    Hi Jayjay,
    its AIB new offers after the drop, Not sure about the lumpsums, will check out for that.
    I am more likely to take LTV of 3.8%.
    any idea if interest rates will down or up further?


  • #4
    jayjay2010
    Registered Users, Registered Users 2 Posts: 505 ✭✭✭jayjay2010


    greenhouse wrote: »
    Hi Jayjay,
    its AIB new offers after the drop, Not sure about the lumpsums, will check out for that.
    I am more likely to take LTV of 3.8%.
    any idea if interest rates will down or up further?

    I'm very much a newbie to property and only recently sale agreed. But there are a lot of threads on here about interest rates that you should definitely check out.

    My plan is to take out the variable rate, make over-payments when possible and keep a close eye on the rates. If they start to go up, I will fix for 3-5 years. I'm taking a risk but it may be worth it if I can pay off a good chunk off the capital


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