Change From A Fixed Rate

[torres09]

At the moment i have a two year fixed rate mortgage which finishes in july.I was wondering if it's worth my while changing to a variable and incurring the penalties or waiting until it expires and taking up a variable then?With the ECB rate falling all the time i'm undecided which would be more benificial,could do with a drop in my repayments at the moment.Does anyone know what the penaties are for changing over with Ulster bank?

 

[LDFerguson]

Can be up to six months' interest but you'd need to contact them to get a figure for your own mortgage as penalties depend on your rate, mortgage outstanding and rate your going onto.

 

[c00lcarl]

At the moment i have a two year fixed rate mortgage which finishes in july.I was wondering if it's worth my while changing to a variable and incurring the penalties or waiting until it expires and taking up a variable then?With the ECB rate falling all the time i'm undecided which would be more benificial,could do with a drop in my repayments at the moment.Does anyone know what the penaties are for changing over with Ulster bank?

We are with Ulster bank and their penalties are fairly severe, the last time I looked to break out of our fixed rate they quoted a €5K penalty