EBS Standard Variable Rate - Should I fix for 1 year?

Discussion in 'The Fair Mortgage Rates Campaign' started by deltrotter, Feb 24, 2017.

  1. deltrotter

    deltrotter Registered User


    I'm looking for peoples opinions on this please?

    Given the last interest rate cut was October 2015 by EBS would it be worth fixing for 1 year at 3.5%?

    I'm currently on SVR at 3.7%. Savings of approximately €30 odd per month. I know it is not much in the grand scale of things but €360 better in my pocket than theirs!

    Thank You
  2. Dauhee

    Dauhee Frequent Poster

    Hi, You would do better by moving to KBC 1 year fixed (if possible), 2.9% I think
  3. gsp119

    gsp119 New Member

    In the same boat as you with EBS - forever hearing don't do anything yet - Rates will fall etc...
    Thinking of fixing for 3 year with KBC / BOI @ 2.9 or 3.1 - then see what's available after the 3 year
    Don't see EBS variable dropping any time soon

  4. cremeegg

    cremeegg Frequent Poster

    There are 2 reasons to fix.

    1. Because you want the certainty or

    2. Because you think you will save money.

    If you want the certainty then go ahead. What you see is what you get.

    If you think you will save money, in my opinion don't fix. This is not because I know anything about future rate movements it is precisely because I don't. The banks will not let you fix at a rate that they think will save you money, unless you think you know more than the bank don't fix to save.

    It may well be possible to exploit anomolies in the yield curve which distort bank costs over fixed time frames and so save by fixing, but unless you think you understand those anomalies better than the banks and have a better insight into how they will unwind, stay away.

    If on the other hand you were just thinking of having a punt on saving by fixing, stay even further away.
  5. Paul Reilly

    Paul Reilly Frequent Poster

    The Independent is speculative today that Variables and Trackers are to rise next year especially trackers so this may help you decide. Ive gone interest only as hope to have better job in 6 months.