EBS cuts fixed rates -but not its variable rates

Discussion in 'The Fair Mortgage Rates Campaign' started by CiaranT, Oct 9, 2017.

  1. RedOnion

    RedOnion Frequent Poster

    Posts:
    433
    I would argue that there is no valid reason for any customer to be on EBS SVR.

    In your case, if you fix now for 3 years at 3.15%, you'd still be better off than staying on SVR even if the rate dropped to 3% at the end of 1 year. The SVR would need to drop below 2.9% in 12 months before you'd be losing out.

    That coupled with how break fees are calculated, and even if the SVR drops you should be able to break at low / zero break fee.
     
  2. Funnyname

    Funnyname Registered User

    Posts:
    18
    I spoke to BoI yesterday, they won't take you unless you have 12 months payments on the mortgage you want to switch from.

    Also EBS confirmed that once the fixed period is up their SVR is 3.70%. However it is easy to fix again.

    BoI mentioned that their cash back deals has been extended to the end of June 2018.

    Is their a post on cash back deals and their T&Cs, if not they might be handy to do a key post?

     
  3. Brendan Burgess

    Brendan Burgess Founder

    Posts:
    32,826
    Great idea. Let me know when you have it done and I will mark it as a Key Post.

    Brendan
     
  4. Dauhee

    Dauhee Frequent Poster

    Posts:
    73
    Last edited: Oct 13, 2017
    Definitely need to go fixed ASAP. Hard to know how many years to lock in. Break fees currently low anyhow.

    Its very unfair that roll onto high SVR after fixed ends, but since you are already on SVR the choice is already made
     
    Last edited: Oct 13, 2017