Is now the time to fix interest rates

M

midland muck

Registered User
Messages
38
Hi all,

I have a mortgage on an investment property which is currently on a variable rate of 4.45% with BOI. I have looked at their website and the fixed rates for existing custumers is 4.6% for 2 years, 4.7% for 3 years and 4.9% for 5 years.

I would expect substantial ECB rate increases over the next few years as the rest of Europe emerges from the recession and inflation becomes an issue. Does anyone else think this is a good time to fix rates for a couple of years based on the historically low rates pertaining at the moment.

Thanks in advance, all opinions welcome.
 
Is the 5 year 4.9% rate quoted APR or is that the actual nominal rate?

If the latter and you know you are not going to sell in the next 5 years then it would make sense to fix.

As you have such a high variable rate it may make sense to fix regardless as variable rates on investment properties are almost certainly going to increase substantially in the next number of years.
 
You must log in or register to reply here.
Back
Top