Break Fees with BOI

Discussion in 'The Fair Mortgage Rates Campaign' started by cliqueentour, Dec 7, 2017.

  1. cliqueentour

    cliqueentour New Member


    Apologises if this has been discussed previously but we have unsure how to proceed.

    We are on a variable rate with BOI @ 3.90%. It's a small mortgage and we were unsure whether we were selling our house to move elsewhere so we stayed on the high variable rate.

    We have the option of moving to a 1 year fixed rate of 3.00% with BOI. We would save just under €400 next year by fixing. However, should we see a house to purchase and thus need to sell our own house, we are concerned that we would need to pay the breakage fee to BOI as a result.

    My question is, what would the break fee be or would I need to contact BOI and ask them to explain and calculate such a break fee.

    I know the amount/saving is small by fixing for 1 year, but I rather have an extra €400 in my pocket than paying the bank you know. Thank you!
  2. RedOnion

    RedOnion Frequent Poster