Haven cuts its rates for all borrowers, but EBS yet to cut theirs.

[Dauhee]

Yep fixed is fixed. You won't be able to move for at least a year so no point in breaking, and you did just get a 2% cashback

 

[RedOnion]

I drewdown on a mortgage with EBS last week (lucky me) and I am on the fixed rate for a year. Does this mean I cannot change the rate (if they do lower it) to a lower fixed rate if offered or to variable ? If I do so will there be a breakage fee? Thanks in advance.

Hi,
Request a break fee for changing to another rate. It will be minimal. Once you've got the Break fee and EBS announce their new fixed rates people on here can advise better.

Break fee calculation is based on changed in wholesale funding markets, and in no way connected to the rates banks charge.

 

[Dauhee]

I would recommend going with BOI on their fixed straight away. If BOI doesn't reduce fixed by time you move, no biggie, as somebody reported recently that their break fee was 100Eur. You could then go to PTSB (2%), then to KBC (3k), then to AIB (lowest rate). Keep moving, keep winning. On 200k mortgage, 4k from boi, 4k from ptsb, 3k from KBC, 2k from AIB. Find yourself a cost effective solicitor and you could make a nice bit of money.