New Years’ Resolution. Save yourself some money!
If it is your New Year’s resolution to save yourself some money, keep reading. Here is how much one of our client’s recently saved themselves by simply switching mortgage providers.
The client approached us at the start of November and was on a Variable rate of 4.5% with a leading mortgage provider. Having completed a review of the market for them, we were able to secure them a rate of 3.45% with a competing bank.
What does this mean to client?
The mortgage outstanding was €290,000 over a term of 30 years.
Their existing mortgage repayment was €1469.39 per month.
Their new repayment is €1294.15 per month
The annual saving is €2102
The saving over the lifetime of the mortgage is €63,086
Alternatively if the clients were to keep the payment the same they would have their mortgage paid off 5 years quicker.
The new bank also contributed €2000 which covered the legal fees, associated with the switch.
If you are interested in reviewing what you are currently paying on your mortgage why not call us today for a consultation on 01 8228022. We can also advise you on all the money lenders special offers and incentives along with MC Financials special offers.
Blogger: QFA Rob O’Neill