Breakage charges for fixed rate products

Gday,

I am going to be taking out a mortgage soon for about 240k.

Was thinking of going on a 5 year fixed with EBS - currently 4.84%.

I haven't applied for the actual loan yet but I would like to informed before I speak with any FI/broker.

If I remortgage 2/3 years in how are the breakage fees calculated does anyone know?

Even if this has been discussed before on this site maybe someone has a link to previous threads on the topic.

Thanks in advance.

EBS charge a penalty of 6 months interest on early redemption of fixed rate mortgages where the initial fixed term is over one year - for one year fixed rates the penalty is 3 months interest.

Sarah

www.rea.ie