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Fix AIB Mortgage Rate?

  • 13-02-2022 1:05pm
    #1
    muloc
    Registered Users, Registered Users 2 Posts: 451 ✭✭


    Hi,

    Am currently with AIB on a LTV<=50% rate of 2.75%.

    With variable rates expected to rise this year is there any reason not to fix at this point?

    There rates are:

    2.35% for 3 or 5 year LTV<=50%

    2.65% for the 4 year fixed LTV<=50%

    Any idea why the 4 year is different? Doesn't make sense to me.

    Thanks.



Comments

  • #2
    Newbie20
    Registered Users Posts: 692 ✭✭✭Newbie20


    I am also AIB, got a mortgage in 2019 and fixed. Since then I have changed to a better fixed rate twice with no breakage fee. Outside of maybe wanting to pay lumps of the mortgage every so often, I can’t see why anybody would go for a variable rate when you can easily break out of a fixed rate.



  • #3
    muloc
    Registered Users, Registered Users 2 Posts: 451 ✭✭muloc


    Cheers. Will probably go for the 5 year fixed. Don't think I'll be paying lump sums of it somehow unless I win the lotto!



  • #4
    [Deleted User]
    Posts: 1,344 ✭✭✭ [Deleted User]


    Bit of a no brainer really......my advice at the moment.....is TAKE THE 5YR FIXED......theres no way we'll see out 2022 WITHOUT an ECB rise..../ possibly 2 this year. That % for a 5yr fixed isn't bad, all things considered



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