Best 2,3 yr fixed rate on the market?

P

petrucci

Registered User
Messages
37
Hi, which bank currently offers the best 2 or 3 year fixed rate for the following:
LTV 92%, 35 years, cost 340k €
Thanks in advance.
 
3 year fixed - Bank of Scotland/Halifax - 4.89%

2 year fixed - Bank of Ireland/ICS - 4.89%
 
You are forgetting NIB (as brokers usually do) .
If your LTV is under 60% they have a 3yr fixed rate of 4.87. Under 50% ltv gets you a 3 yr fix of 4.85 and a 2 yr fix of 4.88 . I have no connection to NIB - just like to see people get the full information.
 
No - NIB go for the "safer" customers who owe less on the mortgage.
 
Ok, thanks a lot for that. A few follow up questions.

After the fixed period ends, do I have an option to choose a new fixed or a tracker rate? If so, shouldn't I also review the level of other rates I might use when the fixed period ends?
Or maybe, should I not worry about it and if the bank I chose for a fixed rate has no competetive rates, I could just switch to a different one?
How does it work please?
Some websites give info like: "fixed rate rolling to standard var. rate".
What's that about?
Cheers.
 
You'll indeed be going to the standard variable rate, which is most likely the highest (variable) rate they have. But comes the time, you should be able to negotiate that rate down to a competetive tracker rate or if not, switch to another lender.
 
BoI usually rolls to a tracker at about ECB + 1.25 - not the best tracker around, but definitely better than standard variable.

But otherwise Happy Harry's quite right - you should be in a position to discuss rates with your lender or to remortgage with another more competitive one at the end of the fixed period.

One note of caution - with several (maybe most) lenders, if you get a package which includes cut-price conveyancing or other extras, you may have to repay some of the notional value if you remortgage within the first three to five years. Check the conditions with any lender.
 
You must log in or register to reply here.
Back
Top