W
Webb Ellis
Guest
I recently purchased a house 12months ago through mortgage with EBS on a fixed rate of 5.99% for 5yrs... repayments per month ~€1,300... a few months after i fixed, the rates began to tumble and the general economic climate deteriorated considerably. EBS now offer a 5yr fixed mortgage close to ~3.5%...
To break my current mortgage, the penalty would be ~€19K!!
Is there anyone with any advice as to how to manage this? Is it just forget about it and soldier on?
Or do i have any opportunity to renegotiate a lower rate?
I have heard through the grapevine that EBS may be willing to remove the penalty for breaking out of fixed rate mortgages? Any truth in this?
To break my current mortgage, the penalty would be ~€19K!!
Is there anyone with any advice as to how to manage this? Is it just forget about it and soldier on?
Or do i have any opportunity to renegotiate a lower rate?
I have heard through the grapevine that EBS may be willing to remove the penalty for breaking out of fixed rate mortgages? Any truth in this?