I presume that you are with Ulster Bank?
They are the only lender that brings down the rate for those who bring their LTV down below 80%, so they are treating you much better than any other bank.
As the others have pointed out, fixed means fixed.
It's another reason why people should avoid fixed rates. If they pay off a lump-sum they don't get the benefit of the lower LTV, and will usually be hit with an early repayment penalty.
Brendan
Exactly!! You made a sensible decision to fix a large portion of your mortgage in order to ensure certainty of payments for the FR period. You entered into a contract with the Bank for the duration of that period. Obviously if rates had increased in the interim you would want to hold on to the FR for the full term but as they had decreased you would be more inclined to exit the FR earlier.the reason I went fixed for 2 years was to get away from the crazy high rates that were charged on variable early last year
You made a sensible decision to fix a large portion of your mortgage in order to ensure certainty of payments for the FR period.
when I make this payment my LTV will be less than 80%. the bank are saying they will give me the better rate on the LTV less than 80% rate on the variable only. they will only offer the lower LTV rate on the fixed element when the fixed rate expires in one years time
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