EBS Fixed rates finished as of 17/2/11..what next?

T

turbobb

Guest
Hi,

I am currently on variable and was shopping around for a fixed term, and almost all banks not doing fixed term. My own EBS sent me email, saying that if i want a fixed term need to return the form by today latest tomorrow. The rates are;

variable: 4.43% ( from the 1st April )
3 yr fixed 5.2%
5 yr fixed 5.65%
10 yr 6.15%

crazy rates, knowing we tax payers are bailing them out, plus they get european loans are much lower rates. Soon there will be no more fixed rates. Should I fix, whats people thoughts.
I am thinking is Ireland heading down the road of something similair to America, where there will be 30 year fix rates or something similiar. Surely the banks will push alot of people over the edge?

Any thoughts, should i fix?
T.
 
Its a joke and something needs to be done. I think the banks need to offer fair fixed rates. I just fixed mine for 5years with EBS at 5.65 and am quite happy i did. I feel sorry for people who are on variable and struggling. This is something that will effects everyone who owns a home whether you are on variable tracker or fixed rate mortgages.
 
in same boat myself, on variable with ebs, in middle of building house so haven't drawn down full amount yet,not sure what do?
 
My gut feel is that you'd be lucky to get the 5.65% fixed for 5 years. The variable rate is only going to go one way.

Not sure I'd consider it a rip off either, the country is paying more on its debt!!
 
i'm on a 3yr fixed at 5.2% with Haven/EBS which expires July this year.

after that, i'm going to struggle.

i presume it's impossible to re-fix this mortgage today, 4 months early? could manage another 3 years at 5.2%.
 
Mackemdub said:
i presume it's impossible to re-fix this mortgage today, 4 months early? could manage another 3 years at 5.2%.
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Only people who could answer that are EBS, a mere phone call away.

Think today is the last day though.
 
thanks, have been on to my broker who did the original deal - if i have no luck with him i will call them myself.

the IT is saying COB tomorrow is last chance saloon.

will report back here if i have any luck
 
contacted Haven and they advised we would have to pay €6,000 break out penalty if we wanted to re-fix today (i.e. 4 months early).

They have no indication of how long fixed rates will be off the shelves or what rates they could be when they return.

the current SVR is 3.85%, rising to 4.45% in April this year.

So, in a bit of a bind trying to weigh up whether it's worth €6k to fix today.
 
racer said:
Its a joke and something needs to be done. I think the banks need to offer fair fixed rates. I just fixed mine for 5years with EBS at 5.65 and am quite happy i did. I feel sorry for people who are on variable and struggling. This is something that will effects everyone who owns a home whether you are on variable tracker or fixed rate mortgages.
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The problem is the banks are paying more for money than they are lending it out at - so they are actually undercharging for mortgages at the moment.
 
I'm with Haven and was on a fixed rate for 2 years at 3.25% - it was due to expire on July this year. I decided this week to change onto a 3 year fixed rate at 4.89% - the breakout fee was just €16.59 but they wouldn't guarantee it until they got a cheque from me for this amount. I arranged a courier today to get teh cheque and forms into them and they emailed me to say they received it and that they would honour the rate. I'm so relieved i got it litterally by the skin of my teeth!!! A work collegue rang the EBS yesterday as she's on a variable and wanted to fix it before it was too late. They told her yesterday they weren't offering them anymore even though the deadline is COB tomorrow!
 
We have been told we can avail of a 3yr fixed at 4.89% also.

We need to get the forms in today (easy, i can see the EBS building from my desk) and pay over €6k (not so easy but i've done my sums and it should hopefully pay off over 3 years)!

i envy your €16.59!
 
you need to have your branch stamp on the forms by COB today. As I am self building we were given the the option of 50% fixed 50% variable or to aportion it anyway at the beginning (july last yr). Been told that I cannot do this now I would have to fix the whole amount. Silly oversight on my behalf at the time I didn't folow up on this, was so delighted to get mortgage approval :-(

However was also told that we would be interest only for the first year but turns out we have been paying int & cap to date.
 
how long had you got left on your current fixed rate? i presume mine is so low because of the rate i was on and how long was left on it!
 
Emma1980 said:
how long had you got left on your current fixed rate? i presume mine is so low because of the rate i was on and how long was left on it!
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Due to expire in July also

it's all sorted now, we got a new FR of 4.89% for 3 years
 
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