Best value mortgage provider

seanagh92

Hi,

I am looking at buying a house and getting a mortgage of ~€115k which is about 80% of the value of the property. Which mortgage providers offer the best value?

Fees and penalties for early repayment make me nervous. Are you better to go with a variable mortgage as opposed to fixed rate? We're hoping to pay it off in 20-25 years rather than having it looming over us for 35 years.

A friend told us that he got a 35 year mortgage so that he could reduce the term later if he wanted to, and didn't seem to think there would be any penalties... I presume that means he has a variable mortgage?

Any advice would be much appreciated!

Geuze

Read this:

http://www.askaboutmoney.com/threads/mortgage-rates-best-buys.197714/

KBC cut their rates today, they are now best value.

But other banks may respond.

Geuze

http://www.askaboutmoney.com/threads/kbc-changes-direction-stopping-discrimination-against-existing-customers.200983/

Geuze

No penalties on early repayments to a variable rate mortgage.

Water John

At 115K for 80% seems a lowish value. Depends on what part of the country. Will you require funds to do it up or extend it at some stage? Just putting the Q there for your consideration.

seanagh92

Thanks for all the info. We may add an extension in a few years time, but that's just an extra loan right? It's not going to affect your mortgage..

Water John

Well your best bet would to have it included in some way. Either now, or have a separate smaller mortgage when you do the upgrade.
We did this when we refurbished the house.
Mortgage is the best value money.
Alt is set aside an account that you regularly lodge into for this purpose and build a nest egg if you have the spare income.