Others with positive equity may consider switching to competitors who at least treat new and existing customers the same. BOI will hardly reduce SVR by 1% anyway so what is there to lose by availing of a lower fixed rate?
Well if you're on a fixed rate you can't switch to another lender without paying an exit fee.
is it not better for BOI customers to switch to a lower fixed rate anyway, e.g 2 year version @ 3.75%? Even those in negative equity could at least reduce cost v BOI SVR. BOI will hardly reduce SVR by 1% anyway so what is there to lose by availing of a lower fixed rate?
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