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Another Switching Query?

  • 09-01-2019 10:38am
    #1
    Newgrange Warrior
    Registered Users, Registered Users 2 Posts: 145 ✭✭


    Looking to start new year afresh and looking at switching mortgage providers presently. (on aib variable 3.15% presently)

    Can one change the term of mortgage when switching? Possibly reduce term & increase payments.

    Does it affect mortgage interest relief?

    Is switching worthwhile, calculators indicate fixed saving c.50-80/month but the follow on rates kbc-ulster appear high.


Comments

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


    Depending on your loan to value you can get 2.60%/2.65% fixed for 5 years by switching to KBC and they will also give you 3k back which will more than cover your legal and valuation fees.

    Yes you can reduce the term. It's relatively simple to do, you need to get a redemption figure from AIB, get a salary certificate completed by your employer, 1 recent payslip, 3 months current and credit card statements, copy of passport or drivers licence, 12 months mortgage statement and complete their Application form. It should be completed within 4/6 weeks.


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