M
Macrezz
Guest
Hi all.
I currently have my AIB mortgage fixed at 3.85% for the next 3 years. Now that the ECB rates are going down I looked into how much it would cost to move onto a variable rate. To my surprise there was no breakage fee even though the loan to value rate I would be going onto would be 3.49%.
I'm now a bit sceptical about the whole thing. Banks give nothing for free. Then I hear about the possibility of quantitative easing happening which will push up inflation which in turn would normally push up ECB interest rates.
What should I do???
People are talking about another two interest rate drops! This would mean €120 less on my monthly mortgage repayments. But I'm worried about it going up if inflation spikes.
Advice is most welcome. I have 6 days before the breakage quote expires.
Cheers..
I currently have my AIB mortgage fixed at 3.85% for the next 3 years. Now that the ECB rates are going down I looked into how much it would cost to move onto a variable rate. To my surprise there was no breakage fee even though the loan to value rate I would be going onto would be 3.49%.
I'm now a bit sceptical about the whole thing. Banks give nothing for free. Then I hear about the possibility of quantitative easing happening which will push up inflation which in turn would normally push up ECB interest rates.
What should I do???
People are talking about another two interest rate drops! This would mean €120 less on my monthly mortgage repayments. But I'm worried about it going up if inflation spikes.
Advice is most welcome. I have 6 days before the breakage quote expires.
Cheers..