16-09-2019, 14:51 | #226 |
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Only thing that caught me out was the cashback from AIB takes two months to kick in. I thought it was on drawdown like other banks, so I had to cover my solicitor fees myself instead of using the cashback as planned. So I'm short that money now until I get the cashback...
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18-09-2019, 12:49 | #227 | |
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Did the contract specify a rate or a fixed term? You might be put on the prevailing 3 year rate that applies on the day. I would contact the bank directly. Also is 2.9% currently on offer or is it available from a specific date - if you're drawing down before the specific date just stay variable. If you had to switch you could in theory switch on the same day as you draw down. The cost of switching should be zero given the base cost of the bank (draw down day) and current cost (switching day) would be the same. But why the back would make you jump through such hoops |
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23-09-2019, 10:54 | #228 |
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24-09-2019, 08:37 | #229 | |
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24-09-2019, 10:55 | #230 |
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https://www.askaboutmoney.com/attach...uire-mp3.4065/
AIB will write to all those who have been over-charged. |
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01-10-2019, 12:19 | #231 |
Join Date: Jul 2017
Posts: 1,090
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Is there anyway to verify the fee quoted by the bank? BOI in my case.
I know the formula but I don't know the 2 interest rates, R% and R1% but if I work backwards from the quote using the information I do have the difference between R and R1 is 0.72% which seems high to me. |
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01-10-2019, 22:50 | #232 | |
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I used the formula in my contract and worked it out at 3.5k. I rang my bank (PTSB) and asked what the break fee would be and was told zero!! Call and ask, it takes 5 minutes (then report back here!!). |
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02-10-2019, 08:14 | #233 | |
Join Date: Jul 2017
Posts: 1,090
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I then used the formula in my contract and worked backwards to work out the difference in interest rates, as these are the only unknowns, and I was surprised by the spread considering interest rates haven't changed since I took out my mortgage. |
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06-02-2020, 10:35 | #235 |
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06-02-2020, 10:40 | #236 |
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06-02-2020, 10:51 | #238 | |
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It may seem like hassle to change providers but a lot of them offer incentives to move and it could save you a lot of money in the long run - well worth spending some time investigating your options yourself, at the very least. |
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06-02-2020, 10:53 | #240 |
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KBC are 2.25% for 2 year fixed if your LTV is less than 60% and you have your current account with them. Will give you €3k for switching. Total cost of switching is around €1,250 so you can make a little profit.
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