Charge to fix my mortgage

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nigel27

Registered User
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Hi, I have applied to change my mortgage with Ulster Bank from variable to 3 yr fixed. They told me that I need to pay €125 "admin" fee to change. What a joke. Do all banks charge this? I have been paying my mortgage for 7 years and am totally disgusted at seeing this charge.

Also they sent me a letter detailing the fixed rate options. The 3 yr fixed option was dated unitl 31/10/2013. Why would this be 2 yrs 8 mths and not the full 3 yrs?
 
nigel27 said:
Hi, I have applied to change my mortgage with Ulster Bank from variable to 3 yr fixed. They told me that I need to pay €125 "admin" fee to change. What a joke. Do all banks charge this? I have been paying my mortgage for 7 years and am totally disgusted at seeing this charge.

Also they sent me a letter detailing the fixed rate options. The 3 yr fixed option was dated unitl 31/10/2013. Why would this be 2 yrs 8 mths and not the full 3 yrs?
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What rate are they offering you for the 3 years? Have heard about this charge before alright.
 
Thats not a bad rate in my opinion. IS it possible thought seeing as its varible rate is more?
 
I'm moving from Ufirst 3.65% variable to 3yr fixed to peace of mind.

The 3 yr fixed option was dated unitl 31/10/2013. Why would this be 2 yrs 8 mths and not the full 3 yrs
 
That charge has been in place for several years.

UB fixed rates run from a specific date for whatever fixed period, not from the day you fix. They obviously brought out that batch of fixed rates on 31/10/2010, I wonder do they know when next lot will be issued then you could get your full 3 yrs unless of course they are at a higher rate.
 
PTSB also charge 100e to fix! I would look at fixing for a minimum of 5years but thats just my opinion.
 
Ulster bank have fees (currently) to fix except where you come off a fixed rate. Most banks have or had fees for this. Sometimes, with negotiation they can be waived.
 
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