PTSB breakage fee

D

dob123

Registered User
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I have just over 2 years left on a 10 year fixed rate mortgage with approx €180k left.

I was today quoted a breakage fee of over €16,000

I had read a few months ago about a new way of calculating breakage fee which should reduce the cost does this cost sound correct or can it be argued against the new EU directive
 
It looks about right, sorry. The 10 year interbank rate would have been about 4% back then, and the 2 year rate now us negative. So roughly 180k * 4% * 28/12

Unfortunately when we did the examples, I forgot to include cases which were fixed when rates were high.

What's your interest rate by the way?
 
No problem thanks for the help. I had seen lower figures so was wondering was mine correct or way off.

6.1%
 
At 6.1%, unless you are planning to pay it off in full it's not worth while breaking (you'd need to be able to refinance at under 2%).
 
RedOnion said:
It looks about right, sorry. The 10 year interbank rate would have been about 4% back then, and the 2 year rate now us negative. So roughly 180k * 4% * 28/12

Unfortunately when we did the examples, I forgot to include cases which were fixed when rates were high.
What's your interest rate by the way?
Click to expand...

Out of curiosity, I fixed 2 mths ago €285k with BOI for 1 yr at 3%. What would my breakout fee roughly be??
 
renter45 said:
Out of curiosity, I fixed 2 mths ago €285k with BOI for 1 yr at 3%. What would my breakout fee roughly be??
Click to expand...
A few quid. You'd need to contact them to get a quote but it should be very small given where rates are over past 2 months. About 0.03% of balance maybe (about 85 euro).
 
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