fixing for one year with EBS???

Hi, my new mortgage repayment with EBS is 3.95% variable rate and I am paying 791.70 per month for this minus 75 TRS so I end up paying 716.70.
I see they have a 1 year fixed at 3.50% and am considering this and wonder if people think it is a good idea or not?

I have a second question - I owe the bank 106 thousand euro having bought it for 188 thousand euro originally - it's worth about 140,000 or 145000 at present with 15 years left on the mortgage, would I be entitled to a lower rate anyway because it's worth more than what I owe??
Thanks

summersday said:

Hi, my new mortgage repayment with EBS is 3.95% variable rate and I am paying 791.70 per month for this minus 75 TRS so I end up paying 716.70.
I see they have a 1 year fixed at 3.50% and am considering this and wonder if people think it is a good idea or not?

Click to expand...

I have done a Key Post on the topic here:

Should I fix my rate to escape the very high variable rates?

summersday said:

I owe the bank 106 thousand euro having bought it for 188 thousand euro originally - it's worth about 140,000 or 145000 at present with 15 years left on the mortgage, would I be entitled to a lower rate anyway because it's worth more than what I owe??

Click to expand...

Your loan to value is 76% (106k/140k). EBS has a rate of 3.75% for people with LTVs between 50% and 80%. However, they base their rate on the LTV when you took out the mortgage and not the LTV today. You will have to switch lenders to get a better rate. But you should ask EBS to reduce your rate anyway.