HouseBuyer10
Registered User
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- 69
This is correct.I assume that we can go with the variable rate and fix at any point if needed without having to pay a breakage fee, can’t we?
Actually AIB have them but only for new customer. Presumably because it is easier to manage when they set up new borrower account (i.e. create two account essentially) where as existing borrower can get messy with traceability and changing of balances etc to move a portion to another account.One of my long standing bugbears for all the years I worked in the bank was the fact that customers were forced in to making the 'full duck or no dinner' choice. Fixed or variable. I failed to convince them to offer borrowers a choice of fixing a portion of the mortgage rate and leaving some element on variable. Would eliminate this dilemma borrowers have at either the start of the mortgage or when their current fixed rate expires. So in essence my suggestion to split the borrowers mortgage in to 2 or even three accounts, and place a percentage (exact split to be decided by the borrower) of same in the variable and fixed rate options. Would provide an element of protection/security to those nervous about locking in the full mortgage at a fixed rate.
I failed to convince them
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