Those "powers that be" quoted in the Independent are mortgage brokers - who of course may gain financially if people switch mortgages through them. (Just trying to get some more business ?)I see in Papers today, the powers that be are advicing people with variable and tracker mortgage to avail of the deals for Fixing Mortgages
If someone was getting a new mortgage (if we get one)!!! Should we go with brand new variable or new fixed?
I intend to get a new mortgage in the near(ish) future. I would be looking at a split (50/50 probably) AIB mortgage, half variable and half fixed for 10 years @ 4.41% currently.If someone was getting a new mortgage (if we get one)!!! Should we go with brand new variable or new fixed?
I intend to get a new mortgage in the near(ish) future. I would be looking at a split (50/50 probably) AIB mortgage, half variable and half fixed for 10 years @ 4.41% currently.
Only fix if you need to be sure of your future repayments, otherwise go variable. Don't try and time the market.
I'd agree with this. I've a very low margin tracker and wouldn't dream of fixing but I'll be moving house in the near(ish) future so will face the fix or not quandary.I'd also re-iterate that if you have a low margin tracker (say <1.5% above ECB) and a good few years left on your mortgage I'd be VERY reluctant to give up your tracker to fix now, as it's extremely unlikely that you'll get such a tracker again.
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