Hi I have posted elsewhere about being one of the people who were placed in error by BOI on a variable after coming off fixed and should have been placed on a Tracker. I have got on to Branch as I was getting nowhere with Mortgages in Dublin.
The lady in Branch was explaining to me about my rates and am now confused on what to do for the best.
I fixed in June 2010 for 3 yrs at 3.95%, my tracker would be ECB +1.25%.. My current repayment is 1100 approx and going by previous statements on my a/c this would drop by apprxo 200 - 250 per month to about 900.
Her point is the Trackers are rising and I fixed at a good rate I think she said the three year fixed at minute is 5.95% in comparison.
When my current fixed ends in 2013 I will revert to Tracker.
To be honest I am not very clued in when it comes to all this and I would really appreciate some views.
By the way there is no guarantee the Bank will break me out of the fixed without penalty as of yet. Have requested this but no response and now I am unsure what I should do.
Thanks
The lady in Branch was explaining to me about my rates and am now confused on what to do for the best.
I fixed in June 2010 for 3 yrs at 3.95%, my tracker would be ECB +1.25%.. My current repayment is 1100 approx and going by previous statements on my a/c this would drop by apprxo 200 - 250 per month to about 900.
Her point is the Trackers are rising and I fixed at a good rate I think she said the three year fixed at minute is 5.95% in comparison.
When my current fixed ends in 2013 I will revert to Tracker.
To be honest I am not very clued in when it comes to all this and I would really appreciate some views.
By the way there is no guarantee the Bank will break me out of the fixed without penalty as of yet. Have requested this but no response and now I am unsure what I should do.
Thanks