Brendan Burgess
Founder
- Messages
- 51,904
Just to bring a bit of clarity into this.
1) Everyone should check what their break fee is today with Ulster Bank.
2) It may well be worth breaking out early and refixing again with Ulster Bank. If you do this, you may have a break fee but you will not have legal costs. You have to do the arithmetic to see if it's worthwhile.
3) It may be worth breaking out and switching to another lender like Avant. Again, do the arithmetic. But given the legal costs of switching it may not be worthwhile.
However...
If you fix for say five years with Ulster Bank and end up with ptsb after that, you will probably have to switch from ptsb at that stage, so you will face the legal costs then anyway.
So it might be worth just paying the legal costs now and switching to a cheaper lender.
1) Everyone should check what their break fee is today with Ulster Bank.
2) It may well be worth breaking out early and refixing again with Ulster Bank. If you do this, you may have a break fee but you will not have legal costs. You have to do the arithmetic to see if it's worthwhile.
3) It may be worth breaking out and switching to another lender like Avant. Again, do the arithmetic. But given the legal costs of switching it may not be worthwhile.
However...
If you fix for say five years with Ulster Bank and end up with ptsb after that, you will probably have to switch from ptsb at that stage, so you will face the legal costs then anyway.
So it might be worth just paying the legal costs now and switching to a cheaper lender.