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What's the best mortgage rate around...

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  • 17-07-2006 6:40pm
    #1
    [Deleted User]
    Posts: 0 ✭


    ...paying about 1200 per month with about 250k left to pay over the next 30 years. Think the rate is about 4.25% with B of I.

    Anyone know of any other particularly good offers or rates at the moment? House may have gone up in value - heard that rates change when the amount is less than 60% of the value. That true?

    Btw, unless I got some extremely good fixed rate, would prefer to go on fixed for a year or two only and thereafter variable, just in case someone made an offer I couldn't refuse.


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    #2
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    Conor74 wrote:
    Btw, unless I got some extremely good fixed rate, would prefer to go on fixed for a year or two only and thereafter variable, just in case someone made an offer I couldn't refuse.

    With some mortgages you can keep the fixed mortgage going and simply change the collatoral (i.e. the house) on which it is secured, should you sell the house. I have been talking to NIB about a 5 year fixed on this basis (APR I am quoted over the 5 yrs is 4.2%- which I consider to be reasonable).


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    #3
    quazzy
    Registered Users Posts: 1,307 ✭✭✭quazzy


    Conor74 wrote:
    ...paying about 1200 per month with about 250k left to pay over the next 30 years. Think the rate is about 4.25% with B of I.

    Anyone know of any other particularly good offers or rates at the moment? House may have gone up in value - heard that rates change when the amount is less than 60% of the value. That true?

    Btw, unless I got some extremely good fixed rate, would prefer to go on fixed for a year or two only and thereafter variable, just in case someone made an offer I couldn't refuse.

    Conor,

    How much is the house/apt worth atm?

    NIB offer 3 ECB trackers that reduce when you house price increases.
    I was on 4% and now will be going down to 3.74 next level is around 3.5 so there is a lot to be saved.

    Check it out

    Q


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