Tired Paul
Registered User
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- 262
Hi all, just looking for some advice.
Got letter from Cork City Council today regarding our A/H loan. Our current Fixed Rate term expires next month and they are giving us two options. Just want to see what you think we should do.
Currently we are on a Fixed Rate of 5.25% - this expires next month.
Option 1:
Fix for a further 5 years at Fixed Rate of 4.4%
Option 2:
Switch to Variable Rate (currently 2.75%) for the remaining term of the mortgage (15 years left)
I'm inclined to stick with option 1 as I'm comfortable knowing what I need to pay every month. Also, I'm not sure which way the variable rate cold go over 15 years. Its too long to perdict anything favourable.
Thanks.
Got letter from Cork City Council today regarding our A/H loan. Our current Fixed Rate term expires next month and they are giving us two options. Just want to see what you think we should do.
Currently we are on a Fixed Rate of 5.25% - this expires next month.
Option 1:
Fix for a further 5 years at Fixed Rate of 4.4%
Option 2:
Switch to Variable Rate (currently 2.75%) for the remaining term of the mortgage (15 years left)
I'm inclined to stick with option 1 as I'm comfortable knowing what I need to pay every month. Also, I'm not sure which way the variable rate cold go over 15 years. Its too long to perdict anything favourable.
Thanks.