misstealeaf
Registered User
- Messages
- 93
Correct.My mortgage was fixed for 5 years from July 2019 @ then fixed rate of 2.85%.
Presuming this most recent rate cut won't apply to me given I'm already stuck in a fixed rate?
Thanks a million @RedOnion, really appreciate your advice.Correct.
But call and ask them for a break fee. It might still be worthwhile breaking and refixing at lower rate.
Thanks a million @RedOnion, really appreciate your advice.
Absolutely will do Brendan. I just requested there now so will post reply for info for all here as soon as I receive it.Anita
It's very important that when you get quoted the break fee, that you come back and post here about it.
Brendan
Wow, that's mad. Did not expect a 'no breakage' cost so will be interesting to see what my requested response will be next week! I will post when I get it.Hi all,
I requested a break fee from AIB last Monday when the cuts were announced. We had fixed on a 5 year rate of 2.85% last June.
Got the letter today, break fee of €0.00.
I actually can't believe it and think I'm missing something to be honest! I requested a break fee a few years ago on a 2 year fixed and it was almost €900. (When AIB did the calculations differently to everyone else.)
So I think we're going to fix on a 3 year rate of 2.55%. I was really expecting a huge figure so am quite shocked. Definitely worth emailing for a quote.
It'll take a few days for you to get the letter. Once it's generated they'll be able to see the letter and give you details over the phone. Give them a shout Thursday morning and ask for it.Absolutely will do Brendan. I just requested there now so will post reply for info for all here as soon as I receive it.
Will do @RedOnion !It'll take a few days for you to get the letter. Once it's generated they'll be able to see the letter and give you details over the phone. Give them a shout Thursday morning and ask for it.
I stupidly fixed with AIB about 20 months ago at 3.3%
You've explained it better than I did at the first attempt!This is how Red Onion explained it to me
How long did you fix for?Thanks for this. Defo going to ring and ask for break fee.
To refine this further, anyone who has fixed with AIB since their April 2019 rate changes, can currently break with zero break fee. This is regardless of the term they have fixed for, all the way from 2 years to 10 years.there is a very good chance that if you fixed for 5 years within the last year at a rate of 2.85% , there will be zero break fee, as reported later in this thread
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