Im into year 2 of a two year fixed rate due up next March.
Will I be penalised by the bank if I switch bank while on the fixed rate?
With EBS.
From their website it doesn't mention anything about a penalty when switching bank.
Will I be penalised by the bank if I switch bank while on the fixed rate?
With EBS.
From their website it doesn't mention anything about a penalty when switching bank.
- An early redemption charge is payable in the following cases where the fixed rate period has not expired:
- If a capital payment or full repayment is made to the loan, including an involuntary/voluntary payment from a third party source e.g. a payment from a Mortgage Protection policy; or
- If the loan is converted to a variable rate; or
- If the loan is converted to another fixed rate.