We have no equity in the house. We have 240k left on the mortgage and I think the house is worth 220-240. (original loan was 275k)
We are on the standard variable with AIB 3.15%.
Due to our LTV>90% we cant switch for at least another year until we have a small bit of equity in the house.
I'm looking for advice, with all news recently about interest rates maybe rising soon. Would it make sense to fix at 3.2% for 1-3 years, or longer for more....3.3% for 4-5 years? Or should I wait it out for another year or so and hope to switch to a lower rate when my LTV is less than 90%.
Any help or guidance would be greatly appreciated. Thanks
We are on the standard variable with AIB 3.15%.
Due to our LTV>90% we cant switch for at least another year until we have a small bit of equity in the house.
I'm looking for advice, with all news recently about interest rates maybe rising soon. Would it make sense to fix at 3.2% for 1-3 years, or longer for more....3.3% for 4-5 years? Or should I wait it out for another year or so and hope to switch to a lower rate when my LTV is less than 90%.
Any help or guidance would be greatly appreciated. Thanks