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To switch or not Switch?

  • 27-07-2015 11:47am
    #1
    Redgirl82
    Closed Accounts Posts: 1,252 ✭✭✭


    Ok so after years of not worrying about Mortgage I am wondeirng should I move. With BOI...

    Just checked online and LTV is around 37% so in good shape. Issue is the mortgage is not due to be paid back till 2032.
    I already overpay each month by 230 euro to try and finish up a little bit early but after all the news last week wondering what is best option.

    Not a question about moving, I think this is best option unless BOI do something to keep me. But should I move to fixed or stay on variable? at the moment I am on variable rate of 3.65%. No idea is this is good/bad/different to be honest.

    Just wondering what is best option? to go with fixed for 5/10 years? or stay with variable and just move and see what others can offer.

    Below are the fixed rates I have seen....KBC with discount if you open current account

    Should I also look at APR and not interest rate? I cannot work that out...

    Any help would be great?

    BOI Interest APR 1 year 3.60% 3.90% 3 year 3.60% 3.90% 5 year 3.80% 3.90% 10 year 4.20% 4.20%


    KBC(Current Account) 1 year 3.30% 4.27% 3 year 3.55% 3.79% 5 year 3.75% 3.84%


    Permanent
    1 year 3.29% 3.99% 3 year 3.60% 3.80% 5 year 3.90% 3.91%


    Ulster Bank
    3 year 3.30% 4.10% 5 year 3.50% 4.00% 7 year 3.60% 3.90%


Comments

  • #2
    kevmyyster
    Registered Users, Registered Users 2 Posts: 22 ✭kevmyyster


    anyone know the approx solicitor fees for a routine switch of mortgage from one bank to another


  • #3
    Redgirl82
    Closed Accounts Posts: 1,252 ✭✭✭Redgirl82


    kevmyyster wrote: »
    anyone know the approx solicitor fees for a routine switch of mortgage from one bank to another

    I got quote the other day, coming in around 1,000-1,100 but they said it could rise depending on which bank I was moving from

    I would guess if they work out KBC hand you 2k then the fee will rise very quickly:p


  • #4
    Trish56
    Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭Trish56


    Legal fees for switcher would be approx. 1k and would have nothing to do with lender. Ask your Solicitor for a price and shop around...most should come in circa 1k unless your getting additional funds for extension etc.

    kevmyyster wrote: »
    anyone know the approx solicitor fees for a routine switch of mortgage from one bank to another


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