AIBs green rate of 2.15% may mot be available in 5 years time so better to take advantage now. Im early in year 1 of the 5 year fixed. So it would be great if you could fixed again at same rate while its in offer. Keeping rate and term same.Sure you can. Best to give them a ring, there might be a break fee but I think that depends on how close you’re are to the end of your fixed period.
Are you breaking and reducing on the same rate?
AIB will let you do what @help999 is enquiring about. In essence, @help999 would be resetting the clock on the 5-year fixed-rate period. Others on this site have done the same.@help999 I'm not sure if I'm reading this correctly - you are currently on AIBs green rate of 2.15% and you want to break out of that rate, but then start at that rate again - so in essence make it a 6 year term rather than 5 year ?
I don't think AIB will do that though.
I was on a higher fixed rate with AIB early last year and when the new lower fixed rate came in, I was able to move to the lower rate, and in essence, start things again. Unless there is a change in the rate, I don't think you can change their term length.
Have you looked at longer terms with AIB - not sure if they offer competitve 7 / 10 year terms ?
I did just that. I was a year into the 5 year 2.35% fixed rate and broke out and reset there 2 months ago. No fees / Penalties
I did exactly that with AIBs three year rate and will do it again. It also makes perfectly sense.@help999 I'm not sure if I'm reading this correctly - you are currently on AIBs green rate of 2.15% and you want to break out of that rate, but then start at that rate again - so in essence make it a 6 year term rather than 5 year ?
I don't think AIB will do that though.
I was on a higher fixed rate with AIB early last year and when the new lower fixed rate came in, I was able to move to the lower rate, and in essence, start things again. Unless there is a change in the rate, I don't think you can change their term length.
Have you looked at longer terms with AIB - not sure if they offer competitve 7 / 10 year terms ?
This is exactly what we did recently. Very easy to do and you are unlikely to have any break fee. We effectively stretched it out to a 6 year fixed rate.Say you are 1 or 2 or 3 years into that rate, can you break out of it and refix again for another 5 years. To take advantage of the low rate on offer for another 5 years.
Any one know if this is still possible. Im 6/7 months into 5 year green 2.15%, If i break and refix now for 5 years again will it be the higher green rate or will they still honour the 2.15% rate.
I am a mortgage customer and have submitted a request to fix my mortgage interest rate. Does this change affect me?
We will charge the previous rate (before the increase) to customers who have asked us to fix their rate using the mortgage amendment form from our website by close of business on 14 October 2022.
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