Hi everyone
I'm on a 2 year fixed rate with AIB of 3.69%, which will expire in March 2013. As with a lot of people I am having problems meeting the repayments, the bank are aware of all the issues. I requested the breakage cost to revert back to the variable. I'm not entirely sure which variable rate i'd be going on but it would be either 3% or 3.24%.
But heres the thing, they said the cost would be €0.00. So i'm wondering is there a catch? do they think the rates are going to go up? after all their 2 year fixed is at 4.65% or are they just being nice?! When it comes to fixed rates I always make the wrong decision, I dont want to make the wrong decision yet again!
I'd appreciate any views please. Thanks
I'm on a 2 year fixed rate with AIB of 3.69%, which will expire in March 2013. As with a lot of people I am having problems meeting the repayments, the bank are aware of all the issues. I requested the breakage cost to revert back to the variable. I'm not entirely sure which variable rate i'd be going on but it would be either 3% or 3.24%.
But heres the thing, they said the cost would be €0.00. So i'm wondering is there a catch? do they think the rates are going to go up? after all their 2 year fixed is at 4.65% or are they just being nice?! When it comes to fixed rates I always make the wrong decision, I dont want to make the wrong decision yet again!
I'd appreciate any views please. Thanks