Hi,
I owe 200,000 on an EBS SVR of currently 4.43%, with 13 years left. I was happy enough up to 18 months ago, but then they increased my rate by three savage 0.6% jumps in fairly quick succession. I guess this is common knowledge. (My figures might not be 100% correct, but you get the picture).
Now I can switch to BoI to a 3.2% APR SVR which, let's face it, is roughly 150 Euro cheaper per month at the moment. Solicitor's fees for switching are ~600 Euro.
What is the likelihood that BoI could do to me exactly what EBS did once I've signed up?
I can afford the EBS repayments - just - so I could stay where I am. But I couldn't take another 0.6% on top of it again.
The fact that the 3-year fixed rate available from BoI is 5.3%, should I conclude from this that they have more or lass decided that my variable rate will have reached 5% in 18 months?
I realise there are no certainties, but I'd appreciate any opinions on whether I should go ahead and switch.
Thanks a million.
/M.
I owe 200,000 on an EBS SVR of currently 4.43%, with 13 years left. I was happy enough up to 18 months ago, but then they increased my rate by three savage 0.6% jumps in fairly quick succession. I guess this is common knowledge. (My figures might not be 100% correct, but you get the picture).
Now I can switch to BoI to a 3.2% APR SVR which, let's face it, is roughly 150 Euro cheaper per month at the moment. Solicitor's fees for switching are ~600 Euro.
What is the likelihood that BoI could do to me exactly what EBS did once I've signed up?
I can afford the EBS repayments - just - so I could stay where I am. But I couldn't take another 0.6% on top of it again.
The fact that the 3-year fixed rate available from BoI is 5.3%, should I conclude from this that they have more or lass decided that my variable rate will have reached 5% in 18 months?
I realise there are no certainties, but I'd appreciate any opinions on whether I should go ahead and switch.
Thanks a million.
/M.