Variable to Fixed Mortgage?

K

KAZZA

Registered User
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We have got our mortgage, which is variable but with interest rates going up, I was wondering would it be possible to change to a fixed rate at this stage?
 
Re: Variable to Fixed Mortgage???

Is there a penelty for changing or is this a big deal? You wouldnt have to reapply for the whole mortgage again or anything?
 
Re: Variable to Fixed Mortgage???

No there is no penalty to go on to a fixed rate. There may be a penalty or breakage cost to pay your Lender if you want to come out of the fixed rate at a later date if the fixed rate term is not up yet.
 
I know with PTSB anyway that they charge you €100 approx. for the changeover from variable to fixed. Not sure about other lenders.
 
Check out the many existing threads on the pros and cons of fixed versus competitive tracker/variable rates.
 
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