Moving from Fixed rate to fixed rate?

[rustbucket]

Hi

Am currently entering year 2 of a 2 year fixed rate. 2.85% with AIB.

Am concerned about interest rate rises this and next year and would like to fix again.

Does anyone know if its possible to change fixed rate now to say a 5 year fixed 3.8%.

I know it should cost me a penalty etc but would the bank look at this favourably given they would earn more interest in year 1 than they would currently from me in year 2?

Cheers

 

[NorfBank]

Does anyone know if its possible to change fixed rate now to say a 5 year fixed 3.8%.

I know it should cost me a penalty etc

Cheers

Best 5 year fixed at AIB is 4.39%, they may waive the breakage penalty as you are giving up the lower rate.

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