Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Mortgage rate Renewal time

Options
  • 02-06-2006 6:58am
    #1
    Saruman
    Registered Users Posts: 11,389 ✭✭✭✭


    I got my mortgage last year and its time to renew. I can go to variable or i can pick various fixed rates.

    variable: 3.990%
    1 year fixed 4.290%
    2 year fixed 4.390%
    down to fixed till 2016 at 4.990 %
    OR i can go tracker ECB + 1.25% at 3.750%

    Anyone in the know have any idea of what way i should go? Will rates rise pretty high and 4.990% might be best?


Comments

  • Options
    #2
    masterK
    Registered Users Posts: 2,757 ✭✭✭masterK


    The perceived wisdom seems to be that rates will rise be between .5 and 1% in the next year. Beyond that it's impossible to predict what will happen. From the rates you have provided the 2 year fixed may be the one to opt for.

    It's also worth remembering that it has become fairly straightforward to switch to another financial institution as there are better rates to be had elsewhere, a lot of them willl cover your legal costs if you choose to switch.


Advertisement