EBS Fix for one year?

My EBS mortgage is going from fixed to variable at end of the month, I read that the expected variable rate decreases are not expected to benefit EBS customers, so am thinking of fixing for another year @3.5% (variable currently 3.7%). Do you think this is wise? Loan valué €250k, 29/35 years remaining. Any advice apreciated, thanks

No EBS Pocket the money themselves rather than passing on benefits to their customers disgraceful. As to fixing I can't advise you - its just a shame this bank isn't for its customers

annie7 said:

My EBS mortgage is going from fixed to variable at end of the month, I read that the expected variable rate decreases are not expected to benefit EBS customers, so am thinking of fixing for another year @3.5% (variable currently 3.7%). Do you think this is wise? Loan valué €250k, 29/35 years remaining. Any advice apreciated, thanks

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Hi Annie

It's not really possible for anybody to accurately predict short-term interest rate movements.

However, for the variable option to come out ahead, EBS would have to cut their variable rate for existing customers by more than 0.2% AND would have to do so quickly enough for the variable option to come out ahead of the one-year fix. And, of course, there's always the possibility that rates will rise.

Possible? For sure.

Likely? Well....

FWIW, if I was in your shoes, I would take that one-year fix in a heartbeat. It's not a bad rate at all (relatively speaking) and the downside risk of being "wrong" is minimal.

Hope that helps.

What's the value of the house?

How much lower is the fixed repayment?