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fixed rate to variable

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  • 09-12-2008 11:43pm
    #1
    B1977
    Registered Users Posts: 410 ✭✭


    My mortgage is currently fixed at 4.79% till Nov 09,Variable rate is now 4.5%,is it worth my while changing to variable now and should I continue paying the same amount if I go to variable, and just change the length of time ?

    where can I get good advice,other than my own Bank


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    #2
    dinneenp
    Registered Users Posts: 8,135 ✭✭✭dinneenp


    phone a indie mortgage broker, look at itsyourmoney.ie.

    you'll get a charge for coming away from fixed so probably not worth it.


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    #3
    Ogham
    Registered Users Posts: 1,844 ✭✭✭Ogham


    Just ask you bank what the penalty is to come off the fixed rate. Don't delay - because with variable rates coming down again very soon -any penalty will rise in the next few days . Do it today if the penalty is pretty low (under 500) or nil. Sort out the other stuff later. Don't let your bank fob you off with "we'll get back to you later" .
    It depends on the penalty and the size of the mortgage wether it's worth your while breaking the fix . Post back here with details of both when you know the penalty.


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