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News on breaking fixed rate mortgage

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  • 21-04-2009 2:12pm
    #1
    jetski
    Registered Users Posts: 820 ✭✭✭


    hi all,

    Their is alot of talk about having a low set fee for breaking fixed rate mortgages... anyone hear anything?


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    #2
    El Stuntman
    Closed Accounts Posts: 4,720 ✭✭✭El Stuntman


    jetski wrote: »
    hi all,

    Their is alot of talk about having a low set fee for breaking fixed rate mortgages... anyone hear anything?

    no but keep us posted, I have a stack of legally binding commitments I would like to be bailed out of


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    #3
    irishneady
    Registered Users Posts: 163 ✭✭irishneady


    hey
    there was a lot of talk on ray darcy show last week about this. I think they are asking banks to take individual circumstances into consideration. the expense will not be completely abolished however as legislation would need to be introduced.The Consumers’ Association of Ireland and opposition politicians have called for the banking sector to introduce "some leeway" for customers struggling to cut back on their mortgage expenses.

    I am keeping my eyes peeled as they quoted us 9k two months ago to break out of it and one of us not working at the mo so it'd majorly help out if we coud switch.


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    #4
    MicraBoy
    Registered Users Posts: 916 ✭✭✭MicraBoy


    irishneady wrote:
    hey
    there was a lot of talk on ray darcy show last week about this. I think they are asking banks to take individual circumstances into consideration. the expense will not be completely abolished however as legislation would need to be introduced.The Consumers’ Association of Ireland and opposition politicians have called for the banking sector to introduce "some leeway" for customers struggling to cut back on their mortgage expenses.

    I am keeping my eyes peeled as they quoted us 9k two months ago to break out of it and one of us not working at the mo so it'd majorly help out if we coud switch.

    Banks do take personal circumstances into consideration. There are usually options to switch to interest only, payment breaks, or agree lower payments, as long as the person struggling to repay the mortgage engages with the bank from early on.


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