Hi there, the break fee is influenced more by rate differences than remaining term. So it's crystal ball territory, but unlikely for rates to rise in next few months.Just wondering is the breakage fee likely to reduce when my term left is under 2 yeasr
The 4 year is definitely the one they've tried to be a market leader with, and the best of their rates. You'll need to be under 90% LTV to get the 2.85% rate.Is the 4 Year Fixed an option for me do you think?
If interbank rates increase, break fee will decrease.
If interbank rates increase, break fee will decrease.
Yes, that's exactly my take on it.if one were to go on a fixed rate today say for 10 years, and bear the cost of the break fee to have certainty on repayments, would it be reasonable to assume that a break fee would be less likely to be incurred in 4-5 years if one decides to change or switch mortgage, given that interbank rates should probably have increased from what they are today.
Hi @Sybil35I'm just wondering if anyone can help with the breakage fee they have stated.
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