How much you could save by asking your existing lender for a better rate!

metricspaces said:
The only option for EBS customers who want to stay with EBS and get a better rate is to fix then?
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Correct.
Again, a phonecall might let you know if there's any room for negotiation, but there are several cases here of customers who switched to AIB for a better variable rate because EBS wouldn't move.

EBS may require an up to date valuation, but none of the banks have anything overly duffudiff to switch between variable and fixed.
 
Thanks. I am with EBS on standard rate of 3.7%. In a few months time I will be in position to reduce my LTV alot. My plan was at that point to switch mortgage providers and go with best long term fix rate in the market (e.g. best 10 year rate).

Is it worth my while to fix with EBS now for a few months? I would save approx 100e a month by fixing now. I can fix for one year. But if I break in a few months time, would my 100e savings be wiped out by the breakage fee, or could I possibly be at a loss?

As breakage fee is based on interbank rates, is it impossible to tell whether I'd be at a gain\loss if I fix now and break in a few months? Or it is possible to say with high level of confidence that if I stay on the fixed rate for X number of months there is no way interbank rates would change so much that I'd be at a loss?
 
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