Fixed Rates at KBC (IIB)

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Hi,

I contacted IIB today to see what fixed rates they were offering at the moment. We are on a variable rate of 2.95% and just wanted to know all our options. Apparently they are not offering any fixed rates at the moment...or in their own words.....'I would like to confirm that there are currently no fixed rates available. '

Is this normal? Are other banks saying the same?

thanks.
 
If you are on a variable rate of 2.95% & with the ECB certain to reduce interest rates further either this week or in March- why in hell would you even be looking at fixed rates?
 
Hi Yellowbelly, we asked out of curiousity...nothing wrong with knowing the options available to you.

So back to the question I asked....is it normal?
 
No law states that any institution must offer fixed rates.

How lenders "price" up their interest rate options (variable & fixed over different periods) is always a reflection of the "cost" which they must pay on the interbank market for money. The fact that KBC do not have current fixed rate pricing schedule points to the following probabilities:

They are experiencing difficulty in raising funds and/or
if they can raise funds it could be so expensive that it is uneconomic.
They may also have no demand for fixed options in a market where interest rates are falling rapidly

To be honest it would be historically unusal for a bank to have NO fixed rate options but it is not surprising in some respects in the current environment.

If you want the lowest fixed rate options- have a look at AIB

2 year fixed 3%
 
KBC/IIb current variable rate is 4.24 going to 3.99 16th Feb.
Who is giving you 2.95% variable??
 
irishlinks said:
KBC/IIb current variable rate is 4.24 going to 3.99 16th Feb.
Who is giving you 2.95% variable??
Click to expand...

Is it not dropping to 3.74%? I thought they were dropping by 0.5% as opposed to the full ECB cut of 0.75%?
 
Hi i am in 4.4 after decrease .50 % who is giving you 2.95 % , i like to switch with them
 
Thats correct , as i got in Sep 2008 with my partner as before i applied single. When i got approved my partner like another house so we had the house . But still my money of 3000€ not refunded.
 
The 2.95% is a tracker rate j unaid. You won't get a tracker with anyone now.
 
Balls!
So does that mean the most up to date variable rate with KBC, obviously depending on what happens with the ECB tomorrow, is 3.99%? And places like AIB are currently offering 3.25%?
 
Last time I checked with my broker they were offering 5.1% and she said they wouldn't be reducing that in line with ECB reductions?
(I'm on a fixed rate.)
 
I've my fixed rate mortgage with KBC, it's killing me to see other banks rates, I'm on something like 5.2% for the next year.
 
I'm on 5.24% fixed rate for next 2 years. Although, I'm not too badly off as my mortgage is small compared to most. They wanted 1500 to break the rate, wasn't gonna pay that though!
 
PaddyW said:
I'm on 5.24% fixed rate for next 2 years. Although, I'm not too badly off as my mortgage is small compared to most. They wanted 1500 to break the rate, wasn't gonna pay that though!
Click to expand...

It depends on your mortgage amount....remember that €1,500 over 2 years is only €62.50/month. Surely you would gain this if you broke out & was on a less variable rate, which are decreasing all the time.

I just spoke to a friend of mine who has a loan of €370,000 at a fixed rate of 4.69% which is up in August 2009 & he was told that it would be €2,917 to break out of this.

Perhaps he is better off staying where he is at present.

KBC Variable is today at 3.99% as per the previous posters.

Any views on what one should do in August 2009 if one holds out until then?

I see that AIB offer a 3.3% variable rate. Is this the best out there at the present?
 
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