The only person who knows when interest rates are likely to rise is Mario Draghi - any commentary from persons other than him is simply speculation.Everywhere I read, I'm seeing rates are likely to increase in the near future.
There are three main downsides to fixing - 1. you want to dramatically over-pay your mortgage and 2. you believe mortgage interest rates will drop further and you will be stuck on the higher rate and 3. you might roll over only a less favourable rate (e.g. SVR over LTV)Is there any negatives to having this piece of mind over 10 years. Or is this too long a period to sign up to, where anything could happen.
Never assume or think anything - get clarification from KBC on how the break penalty is calculated. You only need to worry if the interbank rate falls further negative. How likely is it that the interbank rate will rise or remain the same and the mortgage rates will fall? Maybe, but if it does it will do so in the next 12 months in my viewI think I can break out with not too harsh a penalty.
You should always keep options open until you decide you want to make a final decision. A bank could change rates at the last minute making it more attractiveShould I be looking at other mortgage options.
Not sure when you are planning to draw down, but the price of this is going up effective 3rd AprilI'm 95% now on taking the KBC 10 year fixed.
I am thinking of doing the same thing although I'm in the LTV 60-80% range.
@gnf_ireland what is changing on 3-April? I called them today but they didn't say I had to meet a deadline....
Correct. AIB and UB do a 7 year fixed.Am I correct is saying only KBC and BoI offer a 10 year fixed rate?
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