Mortgage fixed ending - advice for new rate

[balkanhawk]

Hi all,

We currently have a mortgage with AIB and the fixed term is due to expire this week. We have 6 years left of TRS (assuming the gov dont reduce it). Hear are the rates we were offered.

LTV Variable >80% 3.49%
1 Year Fixed 3.59%
2 Year Fixed 3.69%
3 Year Fixed 3.89%
4 Year Fixed 4.19%
5 Year Fixed 4.39%
10 Year Fixed 5.2%

Personnally I am leaning towards a 5 year fixed rate due to the uncertainty with the banks and the inevitable rate rises down the road. I guess we could revert to the variable until we start to hear rumours of possible rate rises thereby saving a few euro. Has anyone any advice on what way we should go?

 

[NorfBank]

Don't try and time the interest rate increases, if you are happy to fix and know the limitations of fixing then do it now and forget about it. Those fixed rates could increase tomorrow and you will lose out on fixing at the lower rate.

Otherwise you could look at a split rate mortgage keeping some fixed and some of the mortgage on the variable rate - best of both worlds.

[broken link removed]

 

[boe]

I am in the same position as the initial poster. Coming out of a fixed rate this month and have been offered much the same as the above :

Standard Variable 3.25%
LTV Variable > 50%< =80% 3.29%
1 Year Fixed 3.59%
2 Year Fixed 3.69%
3 Year Fixed 3.89%
4 Year Fixed 4.19%
5 Year Fixed 4.39%

We have 257k(+interest) over 24 years outstanding on the mortgage. Based on other posts I have seen on here, I am thinking of mix between a 3 year fixed and the standard variable. Its just a question of what way to mix it up, 50:50 or another mix.

I know its very difficult to predict what's going to happen with regard to interest rate rises from the ECB and the banks themselves but has anyone got any opinions/advice?

Thanks