Mortgage rate advice

Hello all,

I will be coming out of a 3 year fixed rate (4.8%) with my mortgage lender in February. My new variable rate will be 2.7%, a huge saving of nearly €300 per month. Because I was on a fixed rate I missed out on all the savings as interest rates dropped which unfortunately coincided with me being made redundant.

My question is should I stick to the variable rate or take the 1 year fixed rate of 2.8% they are currently offering? I know there is no crystal ball to tell us what way interest rates will go but I would appreciate hearing your opinions. Thanks for reading and your replies.

K

Hi
Take the fixed rate. The variable rate is not going to drop further and the difference between the two rates is so small, you might as well buy off the risk of an increase.

artois said:

hi
take the fixed rate. The variable rate is not going to drop further and the difference between the two rates is so small, you might as well buy off the risk of an increase.

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