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Mortgage repayment - fixed or variable

  • 16-01-2017 11:31AM
    #1
    josihay35x
    Closed Accounts Posts: 27 ✭


    Hi,
    First time boards user here, and am hoping someone can help.

    iv got a 20 yr mortgage with BOI on my family home, and have just finished the initial 3 year fixed term.

    I have now been offered the following:

    - Variable LTV rate of 4.2%
    - 1 year fixed LTV rate of 3.4%
    - 2 year fixed LTV rate of 3.25%
    - 3 year fixed LTV rate of 3.1%
    - 5 year fixed LTV rate of 3.3%
    - 10 year fixed LTV rate of 3.95%
    - Tracker Variable Rate

    Can you please advise on which i should go with now? or please take the poll.

    much appreciated.

    Which mortgage repayment option should i take with BOI: 5 votes

    Variable LTV rate of 4.2%
    0% 0 votes
    1 year fixed LTV rate of 3.4%
    20% 1 vote
    2 year fixed LTV rate of 3.25%
    0% 0 votes
    3 year fixed LTV rate of 3.1%
    20% 1 vote
    5 year fixed LTV rate of 3.3%
    60% 3 votes
    10 year fixed LTV rate of 3.95%
    0% 0 votes
    Tracker Variable Rate
    0% 0 votes
    Tagged:


Comments

  • #2
    More Music
    Registered Users, Registered Users 2 Posts: 879 ✭✭✭More Music


    Well, what did you decide?

    I got the same offer.


  • #3
    JTMan
    Registered Users, Registered Users 2 Posts: 5,581 ✭✭✭JTMan


    What rate is the tracker variable?

    Switch is the best option (unless the tracker rate is favourable). You can get 2% cashback with EBS and then just switch again after you get the cashback.


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