Looking for advice as to whether we should re-fix with KBC or move to another lender such as PTSB.
We're just over 4 years into a 5-year fixed rate period with KBC at 2.6%. Mortgage balance is ~270k with 17 years remaining. LTV is below 50% and our BER is A3.
A breakage fee no longer applies so we can end our fixed rate at no charge.
KBC are offering us a new 5-year fixed rate at 2.4%. BoI are obliged to honour that rate once they take over KBC's mortgage book in early 2023.
My question is, is 2.4% for 5 years competitive or is it worth going through the hassle of switching to get a lower rate? Looks like we could fix with e.g. PTSB at 2.05% for the same period, though we haven't switched before so not sure how much hassle/expense is involved.
Any advice appreciated!
We're just over 4 years into a 5-year fixed rate period with KBC at 2.6%. Mortgage balance is ~270k with 17 years remaining. LTV is below 50% and our BER is A3.
A breakage fee no longer applies so we can end our fixed rate at no charge.
KBC are offering us a new 5-year fixed rate at 2.4%. BoI are obliged to honour that rate once they take over KBC's mortgage book in early 2023.
My question is, is 2.4% for 5 years competitive or is it worth going through the hassle of switching to get a lower rate? Looks like we could fix with e.g. PTSB at 2.05% for the same period, though we haven't switched before so not sure how much hassle/expense is involved.
Any advice appreciated!