Cooling off period after fixing mortgage with existing lender

[Dan_The_Man]

Certainly not the biggest issue out there right now, but a real one for a friend of mine.
He just (last 2wks) fixed again with existing lender for 3yrs on Mortgage ...2.9%.

Like many starting to fret about his income and thinks rates may go lower soon and he could have gotten a better deal.
(lower due to some sort of corona stimulus measures ..ecb, bank or gov help)

1.Are fixed rates likely to go lower from Irish banks for existing customers?
2. If he is willing to chance it ...Can he now scrap the deal he signed 2wks ago and wait and see (would temporarily be on variable rate 4.0% I think).
In a nutshell is there a cooling off period for this type of transaction?

 

[HollowKnight]

I'm not sure about cooling off period but your friend could have got 2.25% two weeks ago.

 

[Dan_The_Man]

I'm not sure about cooling off period but your friend could have got 2.25% two weeks ago.

yes with other banks but decision made at the time was (due to inertia) to stick with existing bank (BOI) ...that was then.

 

[Monbretia]

No cooling off period unless your bank is feeling generous and will let you scrap the agreement so soon without penalty, could realistically charge you a break fee but worth asking how much that is anyway.