Hi,
I fixed in August last year with AIB at 5.2% for 3 years on 285K.
No complaints - I did it because I gambled that the ECB would keep rates high.
The current variable is 3.19% so I figure the breakout is about 14K based on the formula. I would save €341 pm if I switched, which is about 10K. So it doesn't make sense you would think.
The thing is my fiancée has just been made redundant and is going to go back to full time education to retrain for the next boom (2024 or so) so that €341 would be very useful now.
What I'm wondering is if I rang AIB and explained the situation would my credit rating be affected somehow, would I get flagged? - I'm not in danger of defaulting or anything (I hope!) - and then whether anyone knows of anecdotal evidence where the breakout has been charged for less than the formula?
Also is it possible to throw the breakout fee back onto the mortgage or will they only do it with a cheque up front?
I fixed in August last year with AIB at 5.2% for 3 years on 285K.
No complaints - I did it because I gambled that the ECB would keep rates high.
The current variable is 3.19% so I figure the breakout is about 14K based on the formula. I would save €341 pm if I switched, which is about 10K. So it doesn't make sense you would think.
The thing is my fiancée has just been made redundant and is going to go back to full time education to retrain for the next boom (2024 or so) so that €341 would be very useful now.
What I'm wondering is if I rang AIB and explained the situation would my credit rating be affected somehow, would I get flagged? - I'm not in danger of defaulting or anything (I hope!) - and then whether anyone knows of anecdotal evidence where the breakout has been charged for less than the formula?
Also is it possible to throw the breakout fee back onto the mortgage or will they only do it with a cheque up front?
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