fixed rate term coming to an end

[bungaro]

been on a 2 year fixed term with aib and its finishing next month so time to decide whether to go variable or fixed. i was surprised that the fixed rate payments seemed to have gone up in the last two years as i thought with all the ecb cuts in the meantime that that would have meant they would've gone down??
should i stick with a variable rate while the economy is in a recession or should i tie myself into a fixed rate again?? any feedback will be greatly appreciated!

 

[leonmahon]

I would go variable as I believe it's more likely that you'll end up paying less overall.

If you want/need the stability of knowing exactly what you'll be paying every month, then stay fixed. Right now, you're going to pay a pretty hefty price for that, however.