How long after Fixing can you break?

Hi,

Is there a minimum amount of time you have to stay with a provider after choosing a fixed rate before you can switch to another provider or could you in theory break after one month?

Say I was switching to BOI Fixed, received the cashback and then wanted to switch to another provider soon after? besides the breakage fee, are there any negative side effects to this?

Also does the calculation of the breakage fee take into account how long is left on the fixed term, i.e. would the breakage fee be more if I have 4 years left fixed as opposed to 2 years left fixed?

Thanks!

You can break the same day if you wish.

Apart from AIB, there should be only a very small fee or none at all for breaking within days of fixing. This is covered extensively in other threads.

Brendan

Brendan Burgess said:

You can break the same day if you wish.

Apart from AIB, there should be only a very small fee or none at all for breaking within days of fixing. This is covered extensively in other threads.

Brendan

Click to expand...

Thanks Brendan, I will look in the other threads also

Hi bluecabbage. I just switched to BOI on a 2 year fixed rate..received cashback and now on 3% after moving from PTSB where we were on 4.2%. Let us know what the break fees are if you get the information. We are not planning on switching again so soon but it is interesting and I have read other threads where others have switched 2 even 3 times to avail of cashback offers. Maybe it is an option we would consider 12 months down the line. The entire switching process is painful with all the documentation requests proving this and proving that.