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@Pinoy adventure As skrooge says, this is what will happen at the end of your fixed rate – by default you will go onto the lender's variable rate. What @markodaly may have been referring to when he said "a higher rate once your fixed rate expires" is that some lenders' variable rates (BOI's and...

You should definitely do this. The problem is that even if you have got AIP from a few lenders and completed a few more of the steps, you will then have to instruct your solicitor which lender to try to get full approval (a letter of offer) from. That's because the solicitor needs to engage...

@JimmyCorkhill What lenders are you thinking of going with? Be aware that if you overpay every month (or even once in a while) during the time you are on a fixed rate, you might face an early repayment charge (confusingly called a "break fee", even though you are not breaking out of your fixed...

https://www.irishtimes.com/business/financial-services/2023/04/06/cantillon-ics-mortgages-parent-bond-deal-lifts-competition-hopes/ While I hope this increases competition, ICS would need to cut their rates a lot – or at least not increase them when others do – to become appealing to borrowers...

If the fixed-rate period was long, e.g., 7 or 10 years, there could be a large-ish break fee – even if you pay off the lump sum quickly after drawdown. In my experience it can take some time for overpayments to be applied, during which time interbank interest rates could have moved a bit...

Who is your current lender?

Yes, rates could have gone up by the time a switch is completed. @Track2023 If you do decide to switch, apply to several lenders at the same time (or make sure that your broker does). Get approval in principle from as many of them as you can and do as many of the subsequent steps as you can...

@WandaVision Because it seems possible that your mortgage will be sold to a vulture fund, you should definitely re-fix. Do so ASAP. Even if your mortgage is sold to a vulture fund, you will at least have 4 or 7 years with the security of a fixed rate. As for whether to fix for 4 or 7 years...

Is it possible that the €180k tracker does actually end in 2038 and that 2043 refers to the €50k mortgage? Dig out your mortgage contract or annual mortgage statement and see what it says. What is your current monthly repayment on the tracker part alone? Does that repayment amount reflect the...

@Track2023 You are also eligible for AIB's green 5-year fixed rate at 3.75% – if your BER really is B3 or better. (See the rates table here.) @Brendan Burgess Would that change your view?

This seems to contradict what their webpage says: Did you use the overpayment form or did you do it another way?

@MelF I'm pretty sure that the valuation has to be done before you can get a letter of offer – regardless of whether it's a new build or second hand. They need the valuation to calculate you loan-to-value (LTV) ratio, which determines which rates they offer you.

@Kiwigirl In the thread you started last month, I posted this reply: https://www.askaboutmoney.com/threads/broker-in-galway-mayo.230194/post-1808175 In particular, I said: As others said in that thread, the broker does not need to be in your area. Some of the online-only brokers have very...

I have never heard of this in relation to AIB. You need to get out your mortgage agreement and see if such a feature is mentioned. Even if it isn't you have nothing to lose by contacting AIB and asking them if they will let you do this. I asked last year for info about Bank of Ireland's "bring...

@Kant @lola1979 Bear this in mind if you were thinking of switching to PTSB – their rates have gone up 0.75% compared to the rates I gave in my above posts. https://www.askaboutmoney.com/threads/ptsb-increasing-fixed-rates-by-0-75.230514/#post-1812565

@lola1979 Your break fee should be zero at the moment – but it is volatile because wholesale interest rates are volatile, so confirm it with EBS. If it is higher than zero, please post it here when you receive it, including the date of the letter. Switching immediately to Permanent TSB's 5-year...

Yes, usually you need to have been with your current lender for at least 12 months before a new lender will take you. See this thread for more info: https://www.askaboutmoney.com/threads/how-long-must-you-be-with-an-existing-lender-before-switching.209609/ In any case, switching very frequently...

@Kant Because you are on a variable-rate mortgage, you do not have to pay a break fee. Switching immediately to Permanent TSB's 5-year fixed rate (3.6% with €4,360 initial cashback and 2% monthly cashback) will save you about €21,980 over the next 4 years Note that Permanent TSB's interest...

@Clueless lady Your break fee should be zero at the moment – but confirm it with AIB. If it is higher than zero, please post it here when you receive it, including the date of the letter. Switching immediately to Permanent TSB's 5-year fixed rate (3.6% with €3,392 initial cashback and 2%...

@Nameless23 A tracker with a margin of 1.95% is worth very little. The ECB rate is currently 3% and it will very likely go to 3.5% in a couple of weeks, and quite possibly 4% in early May. After that it's difficult to say what will happen. Your tracker rate is currently 4.95%. At an ECB rate...