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Irish Nationwide Morgtage Interest Rate Increase

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  • 01-06-2010 10:19am
    #1
    alphanumeric
    Closed Accounts Posts: 61 ✭✭


    Hi there,

    Irish Nationwide Building Society has increased its mortgage by .45% from today.

    Would it be a good time now to fix or should I hold out for a month or two?

    The 2 years fixed is now 3.99%.

    Any suggestions?


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    #2
    delly
    Moderators, Home & Garden Moderators, Recreation & Hobbies Moderators Posts: 7,683 Mod ✭✭✭✭delly


    I rang last week to check rates and was told about the half per cent increase and I also asked them to send me out a breakdown of the current fixed rates. It turns out I have been quoted 3.49 for the 2 year rate so from what you say the 2 year rate must have gone up just after they sent the letter out to me. I think I will go with this as its only .30% up on the variable rate, but as always you have no real idea how rates will go and it could be beneficial in the future.


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    #3
    alphanumeric
    Closed Accounts Posts: 61 ✭✭alphanumeric


    delly wrote: »
    I rang last week to check rates and was told about the half per cent increase and I also asked them to send me out a breakdown of the current fixed rates. It turns out I have been quoted 3.49 for the 2 year rate so from what you say the 2 year rate must have gone up just after they sent the letter out to me. I think I will go with this as its only .30% up on the variable rate, but as always you have no real idea how rates will go and it could be beneficial in the future.

    Looks like you got in just in time... Those rates you have are only valid for 10 days so get the forms back asap...

    I looked into this early and May and am kicking myself now that I didnt fix but am reluctant to fix now just incase they dont hike rates for another few months...

    What to do, what to do...


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    #4
    delly
    Moderators, Home & Garden Moderators, Recreation & Hobbies Moderators Posts: 7,683 Mod ✭✭✭✭delly


    Yeah, I have it ready to send back. I was very tempted to take the 3.24 offer they had at the start of the year and kicking myself now, but getting in at 3.49 eases the pain slightly. There is really no way of knowing how it will go and only time will tell.


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