Currently on a 23 year mortgage with BoI fixed at 2.7% for one year. Mortgage was only drawn in October last year.
Mortgage of €222k v value of €400k.
I have in the last week started a new job and will be on probation till mid November.
Given that no new bank will take me on until my probation finishes, should I try and break out of my one year fix with BOI but stay with them for 5 years at the same 2.7% rate (green rate)?
I could wait till year end and switch then but that 2.7% available now with BOI might seem reasonably competitive at that stage.
My hope had been that the fixed rates of in or around 2% with other lenders would have been available when my 1 year fix finished but that seems unlikely now?
Went with BOI for the cash bank offer. Due another 1% after 5 years for what it's worth.
Would welcome thoughts, I appreciate no one has a crystal ball!
I am creating this thread as a place where people can request guidance on whether they should switch their mortgage to another lender (also called mortgage refinancing or remortgaging) and, if so, which lenders and interest rates they might consider switching to. You are allowed to switch even...