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.
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.