#### FrankLloyd

##### Registered User

Hi All,

Given the recent media coverage and my reading of this forum I contacted my bank today to ask what my breakage fee would be. Based on the examples I've seen here, I was surprised at how high it was. See below for the details - does this sound right to you?

Even with this breakage fee it should still constitute a saving of approx. €2000 to break now and switch to a 3 year fixed rate of 3%, so we will most likely do this, but like I say I was just surprised at the breakage fee quoted so wanted to ask for a second opinion.

Thanks in advance for any replies/advice.

J.

Given the recent media coverage and my reading of this forum I contacted my bank today to ask what my breakage fee would be. Based on the examples I've seen here, I was surprised at how high it was. See below for the details - does this sound right to you?

**Lender:**Bank of Ireland**Rough value of property:**€300k**Total amount borrowed:**€210,000**Amount of mortgage balance outstanding:**€202,000**Date you fixed:**May 2015**Period for which you fixed:**5 Years**Fixed rate:**4.15%**Term left:**29 Months at 4.15% (overall term left = approx. 33 years.)**Breakage fee quoted:**__€2921__Even with this breakage fee it should still constitute a saving of approx. €2000 to break now and switch to a 3 year fixed rate of 3%, so we will most likely do this, but like I say I was just surprised at the breakage fee quoted so wanted to ask for a second opinion.

Thanks in advance for any replies/advice.

J.

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