€200,000 SWITCH

Sunday Independent (Ireland) - Business & Appointments - - FRONT PAGE -

Dowling Fi­nan­cial also ex­am­ined how much could be saved by a home­owner who took out a 30-year vari­able mort­gage last year — and who now has €200,000 left to re­pay on that mort­gage over the next 24 years. Again, the big­gest sav­ings would be made by a home­owner who switches from Bank of Ire­land or Per­ma­nent TSB to AIB. The home­owner would save €42,126 in in­ter­est by switch­ing from Bank of Ire­land to AIB, and €32,489 in in­ter­est by switch­ing from Per­ma­nent TSB to AIB — as­sum­ing more than 80pc of the value of the home is be­ing bor­rowed and the bor­rower switches to AIB on Novem­ber 1 (when the bank’s lat­est round of in­ter­est rate cuts kick in).

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