Break Fees with BOI

cliqueentour

Registered User
Messages
54
Hi,

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!
 
This is like a parallel universe. It’s exactly like me.

Fixed last July with the intention of the same for a year. Went in recently to check about a new mortgage which would mean breaking it.

I asked the mortgage broker and she said it had come right down and could be about € 20.

I’ll take that €380 any day!
 
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