Complainer
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Can I just clarify if you understand the fact that SOMEONE has to pay for your decision to go fixed rate? If so, please clarify who you propose should pay this?I decided to share my opinion on this post a few days ago in the hope that there might be others like me that might take up the fight against the banks. Seems like there a lot of people out there who are angry enough to keep fighting to make this a political issue. Long may that continue and the best of luck to all of you that take on the good fight. This is winnable!
I was however, shocked and disappointed to read some of the comments from those that feel that I should not get out of my fixed rate mortgage. You are all certainly entitled to your opinion but sadly there was a nasty whiff of Irish begrudgery laced through many of those posts. There is even a smugness about many of the comments suggesting that I deserve the pain that my fixed rate mortgage brings upon me. Some even boast about the prized position of their own mortgage arrangement. Enough said.
I decided to share my opinion on this post a few days ago in the hope that there might be others like me that might take up the fight against the banks. Seems like there a lot of people out there who are angry enough to keep fighting to make this a political issue. Long may that continue and the best of luck to all of you that take on the good fight. This is winnable!
I was however, shocked and disappointed to read some of the comments from those that feel that I should not get out of my fixed rate mortgage. You are all certainly entitled to your opinion but sadly there was a nasty whiff of Irish begrudgery laced through many of those posts. There is even a smugness about many of the comments suggesting that I deserve the pain that my fixed rate mortgage brings upon me. Some even boast about the prized position of their own mortgage arrangement. Enough said.
I decided to share my opinion on this post a few days ago in the hope that there might be others like me that might take up the fight against the banks. Seems like there a lot of people out there who are angry enough to keep fighting to make this a political issue. Long may that continue and the best of luck to all of you that take on the good fight. This is winnable!
As another poster pointed out, if ECB rates had gone the other way, would those on fixed rates be offering to pay more to align themselves with those on variable rates?
I was however, shocked and disappointed to read some of the comments from those that feel that I should not get out of my fixed rate mortgage. You are all certainly entitled to your opinion but sadly there was a nasty whiff of Irish begrudgery laced through many of those posts. There is even a smugness about many of the comments suggesting that I deserve the pain that my fixed rate mortgage brings upon me. Some even boast about the prized position of their own mortgage arrangement. Enough said.
I decided to share my opinion on this post a few days ago in the hope that there might be others like me that might take up the fight against the banks. Seems like there a lot of people out there who are angry enough to keep fighting to make this a political issue. Long may that continue and the best of luck to all of you that take on the good fight. This is winnable!
I was however, shocked and disappointed to read some of the comments from those that feel that I should not get out of my fixed rate mortgage. You are all certainly entitled to your opinion but sadly there was a nasty whiff of Irish begrudgery laced through many of those posts. There is even a smugness about many of the comments suggesting that I deserve the pain that my fixed rate mortgage brings upon me. Some even boast about the prized position of their own mortgage arrangement. Enough said.
I wish I had understood about getting out when the rates began to fall. Didn't know enough about the formula to realise that the breakage cost would go up so high as the rates went down. It seems obvious now but wasn't then. Ah well, tough lesson but a lesson
..hmm...I'm with LD Ferguson on this, has anyone mentioned the fact that the Minister for Finance has asked the Financial Regulator to investigate the breakout fees been offered, it seems to be a significant development.
of course, customers should be allowed to come out of fixed rate depending on their current circumstance, if they're still earning as much as they were when they took the fixed rate, then it's fine, but if not, is it better for banks to reposses customer's homes and then still lose or allow them come out of fixed rate if repayment is too high for them to keep? if the government bailed out the banks from their debts then they should bail out customers from fixed rate.
And worse still, how can the bank break me from a fixed rate to a variable without penalty which they did in April08 yet when I try do the same now I get quoted €13,905?
I dont understand this. If the original contract was signed as stated then they did not 'break' you from a fixed rate. But obviuosly a bank would allow anyone who wanted to break from a fixed rate to a higher rate. This is just ordinary business sense (in general).And worse still, how can the bank break me from a fixed rate to a variable without penalty which they did in April08 yet when I try do the same now I get quoted €13,905?
So what's the problem ? You are able to afford it for the next 2.5 years as you expected. In the next while rates could rise and you will be in a good position.The biggest fear I had was that the Interest rate continued to rise and I couldnt afford my home so I fixed for 3 years reluctantly at 5.95%
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