MacktheKnife
Registered User
- Messages
- 13
Hi,
I've been trying to move from an AIB 5 year fixed rate (5.35%) since October to a <50% variable.
The first quote I received was for €1,538, I then got a second quote (final offer) of €1,000.
In mid December I contacted them again requesting them to outline a breakage cost in accordance with S26 of the Mortgage Credit directive, this morning I received a letter with a quote of €1,176 and with same formula outlined.
Currently I owe €104,200 on a house currently worth on the region of €250k and my fixed term expires in July of this year.
Based on my calculations, all the quotes I have received thus far would mean me incurring a loss if I was to accept them.
Is my next step to start the formal complaint process or do I just suck it up for the next 6 months.
Any advice greatly appreciated.
I've been trying to move from an AIB 5 year fixed rate (5.35%) since October to a <50% variable.
The first quote I received was for €1,538, I then got a second quote (final offer) of €1,000.
In mid December I contacted them again requesting them to outline a breakage cost in accordance with S26 of the Mortgage Credit directive, this morning I received a letter with a quote of €1,176 and with same formula outlined.
Currently I owe €104,200 on a house currently worth on the region of €250k and my fixed term expires in July of this year.
Based on my calculations, all the quotes I have received thus far would mean me incurring a loss if I was to accept them.
Is my next step to start the formal complaint process or do I just suck it up for the next 6 months.
Any advice greatly appreciated.