Q. Ten years ago I borrowed 75% loan to value on a property costing € 400k – my parents stumped up the balance. My salary at the time was 60K but lenders then were giving 5 times annual income at my level. The same property is now worth c. € 320K and the mortgage is down to € 233K after 10 years of a 30 year term – € 67K has been paid off. However my rate is not good – 4.3% and I could get at least 1% off this rate if I could switch. But they tell me I now need at least € 67K of an annual income – I am still on € 60K –  to be able to switch. This seems so unfair. Any advice ? John – Rathfarnham Dublin 14



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