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nvidic View Drop Down
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Joined: 03 Aug 2010
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Points: 18994 		Post Options Post Options   Thanks (0) Thanks(0)   Quote nvidic Quote  Post ReplyReply Direct Link To This Post Posted: 12 Apr 2022 at 1:04pm
Originally posted by McG McG wrote:

Originally posted by Shedite Shedite wrote:

Originally posted by MayoMark MayoMark wrote:

We've gone from 2.45% to 2.1%. It's small in terms of monthly payments but if you retain or slightly increase payments, it's a nice bit from the mortgage term
Yeah it all depends on the size of the mortgage too, a 0.35% saving when you've €50-€100k left on a mortgage is a lot less that someone who has just started a €400k mortgage.

Chopping it off the term of the mortgage is the best way to do it, it's an odd way to think about it, but you've basically given yourself a big pay rise for a year or so when you're in your 50's/60's
 

Do providers have to accept overpayments? How do you sort it? For example, can i email and say, thanks for the percentage cut but can i retain the repayments as they were before?

Or could i hypothetically email and ask to pay 100 extra a month say?

I'm with boi, I just rang them and asked to overpay 10% every month, was sorted in two mins.

And yeah, you should be able to keep repayments as they were before and cut the term of the mortgage. 


Edited by nvidic - 12 Apr 2022 at 1:05pm
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SISAO? What the hell is SISAO?

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Points: 26990 		Post Options Post Options   Thanks (0) Thanks(0)   Quote McG Quote  Post ReplyReply Direct Link To This Post Posted: 12 Apr 2022 at 1:27pm
Originally posted by nvidic nvidic wrote:

Originally posted by McG McG wrote:

Originally posted by Shedite Shedite wrote:

Originally posted by MayoMark MayoMark wrote:

We've gone from 2.45% to 2.1%. It's small in terms of monthly payments but if you retain or slightly increase payments, it's a nice bit from the mortgage term
Yeah it all depends on the size of the mortgage too, a 0.35% saving when you've €50-€100k left on a mortgage is a lot less that someone who has just started a €400k mortgage.

Chopping it off the term of the mortgage is the best way to do it, it's an odd way to think about it, but you've basically given yourself a big pay rise for a year or so when you're in your 50's/60's
 

Do providers have to accept overpayments? How do you sort it? For example, can i email and say, thanks for the percentage cut but can i retain the repayments as they were before?

Or could i hypothetically email and ask to pay 100 extra a month say?

I'm with boi, I just rang them and asked to overpay 10% every month, was sorted in two mins.

And yeah, you should be able to keep repayments as they were before and cut the term of the mortgage. 

18 quid in the difference per month. 216 per annum. 1080 over 5 years? Worth it?
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Davey Langan
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ask can you overpay the principle and not the interest Wink
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Points: 18994 		Post Options Post Options   Thanks (0) Thanks(0)   Quote nvidic Quote  Post ReplyReply Direct Link To This Post Posted: 12 Apr 2022 at 5:54pm
Originally posted by McG McG wrote:

Originally posted by nvidic nvidic wrote:

Originally posted by McG McG wrote:

Originally posted by Shedite Shedite wrote:

Originally posted by MayoMark MayoMark wrote:

We've gone from 2.45% to 2.1%. It's small in terms of monthly payments but if you retain or slightly increase payments, it's a nice bit from the mortgage term
Yeah it all depends on the size of the mortgage too, a 0.35% saving when you've €50-€100k left on a mortgage is a lot less that someone who has just started a €400k mortgage.

Chopping it off the term of the mortgage is the best way to do it, it's an odd way to think about it, but you've basically given yourself a big pay rise for a year or so when you're in your 50's/60's
 

Do providers have to accept overpayments? How do you sort it? For example, can i email and say, thanks for the percentage cut but can i retain the repayments as they were before?

Or could i hypothetically email and ask to pay 100 extra a month say?

I'm with boi, I just rang them and asked to overpay 10% every month, was sorted in two mins.

And yeah, you should be able to keep repayments as they were before and cut the term of the mortgage. 

18 quid in the difference per month. 216 per annum. 1080 over 5 years? Worth it?

If you can afford it I don't see why not. 
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Applied for a new mortgage yesterday. Hoping this is the one that finally gets me out of home and into my own.
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Best of luck lad.
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Originally posted by ShamtheRam ShamtheRam wrote:

Applied for a new mortgage yesterday. Hoping this is the one that finally gets me out of home and into my own.
 
If you are a PAYE worker and in your job more than 6 months (and not still on probation) then it should be very quick and easy to get approval in principal. Providing you don't have other loans or your credit report is riddled!! Good luck either way.
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The 1st of the rate rises will be coming in July as hinted by lagarde earlier today, then 2 more before year end the experts reckon.
"One of the dominant facts in English life during the past three quarters of a century has been the decay of ability in the ruling class." Orwell, 1942.
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Robbie Keane
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Currently on variable mortgage. 

Would it be a good time to fix then? 
Or what about a switch and fix? 
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Originally posted by t_rAndy t_rAndy wrote:

Currently on variable mortgage. 

Would it be a good time to fix then? 
Or what about a switch and fix? 



Yes to both. 

I reckon you're burning money. 
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Good time to fix, some good rates out at the moment 
They finally did it man... They killed my f**kin' car...
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Originally posted by t_rAndy t_rAndy wrote:

Currently on variable mortgage. 

Would it be a good time to fix then? 
Or what about a switch and fix? 


yes definitely. The ECB may have to up interest rates significantly with inflation spiralling upwards.

the three rate rises are expected to add circa 180 euro per month to repayments on a 270k mortgage, over 2k extra per year.
"One of the dominant facts in English life during the past three quarters of a century has been the decay of ability in the ruling class." Orwell, 1942.
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Robbie Keane
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With AIB at the moment. Where would be a good place to go. Also with AiB with my current account and did like the way they didn't charge bank fees like ATM fees for having a mortgage with them.
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Originally posted by t_rAndy t_rAndy wrote:

Currently on variable mortgage. 

Would it be a good time to fix then? 
Or what about a switch and fix? 


 
Irrespective of any potential rate rises you should fix, even if for only 12 months if you don't want to lock in as fixed rates are a good bit cheaper at the minute.
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Joined: 27 Jan 2008
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Points: 26990 		Post Options Post Options   Thanks (0) Thanks(0)   Quote McG Quote  Post ReplyReply Direct Link To This Post Posted: 11 May 2022 at 2:28pm
Originally posted by t_rAndy t_rAndy wrote:

With AIB at the moment. Where would be a good place to go. Also with AiB with my current account and did like the way they didn't charge bank fees like ATM fees for having a mortgage with them.

Get onto them. Have a look at their rates on their website for starters. 

You're probably pissing away 150 quid a month on your current variable. 
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Roy Keane
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The sooner the better as fixed rates have increased in the past month or so and are only going one way for the foreseeable.
"One of the dominant facts in English life during the past three quarters of a century has been the decay of ability in the ruling class." Orwell, 1942.
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Originally posted by colemanY2K colemanY2K wrote:

The sooner the better as fixed rates have increased in the past month or so and are only going one way for the foreseeable.
 
Euribor is still negative and banks still offering record low mortgage rates (BOI offering a 1.9% fixed AFAIK) so need for a traditional YBIG panic just yet.
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Liam Brady
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how many years into your mortgage before u can switch?
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