Moving from variable to fixed mortgage rate

[Wexman72]

Hi all. I see a thread below titled "Moving from fixed to variable mortage rate", but I have a question about moving in the other direction.

We've been on a variable rate from the start (with AIB) and have an outstanding balance of around €152,000 over approx 11.5 years. Currently paying interest at 3.15%

Their fixed rates right now are:
3 years - 2.55%
4 years - 2.85%
5 years - 2.55%

Tempted to switch to either 3 years fixed or 5 years fixed, and probably the 3-year option, just in case variable rates do happen to start to fall during that time. Is this a good idea? Anybody got any advice or opinions for us?

Incidentally, wondering why the 4-year rate is higher than both 3 years and 5 years. Any logic behind that?

Thanks in advance.

 

[RedOnion]

Anybody got any advice or opinions for us?

Just do it.
Or swap to another lender.

Any logic behind that?

Absolutely none. They might have forgotten they had a 4 year rate, or just realised they couldn't be cheaper than Ulster Bank for 4 years to be able to advertise it.

 

[Wexman72]

Thanks.

On the assumption that somebody with 4,000 posts here must know more than me about this sort of thing, that's good enough for me!