Mortgage switch while on a fixed rate with another provider

FCBC12

Registered User
Messages
32
I'm 2 years into a 5 year fixed rate with Ulster at the moment. Do I need to break out of the fixed rate to a variable rate before switching mortgage providers or how does this typically work? The break fee quoted is €0.
 

newirishman

Registered User
Messages
877
You don't need to break out, unless you want to have a guarantee on the break fee.
Otherwise break fee will be calculated as part of final payment to clear the loan and will depend on the situation on that day, which we could be different to what you have been quoted.
 

Concrete

Registered User
Messages
44
If they're currently quoting you a break fee of €0, break out now if you're definitely switching soon, as it can only become dearer than that (or, at worst, the same). Unless, of course you might want to stay fixed with Ulster.
 
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