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Hi Brendan, I finally got the breakage calculation from the bank! The following is how they explain it and break it down. The funding fee is calculated using the average balance of the loan over the period, the cost of the funds when the rate was fixed, the investment rate at date of breaking...

Read the article yesterday and contacted BoI. They informed me they got the mail re the EU mortgage credit directive and that they have been compliant in the way they have been charging the penalty. They quoted me €2267 breakage fee for a fixed rate term thats up in August 2018. Lender - BoI...