Hi this is a great thread.
My situation is
Current lender:BOI
Outstanding balance 282,000
Value of house: 750000
Switched to BOI from AIB in 2018
Interest rate 2.8%
Current repayments: 1650 p/m
Fixed rate due to expire 31/10/2023
Due 1% back approx 3000 in Jan 2023
Was quoted today a breakage fee of 502euro. Was thinking of switching to Avant 7yr fixed rate and keep my repayments the same and reduce the term of my mortgage. Any advice...should I do it now or wait till I get the cash back. Thinking interest rates are likely to rise???
My situation is
Current lender:BOI
Outstanding balance 282,000
Value of house: 750000
Switched to BOI from AIB in 2018
Interest rate 2.8%
Current repayments: 1650 p/m
Fixed rate due to expire 31/10/2023
Due 1% back approx 3000 in Jan 2023
Was quoted today a breakage fee of 502euro. Was thinking of switching to Avant 7yr fixed rate and keep my repayments the same and reduce the term of my mortgage. Any advice...should I do it now or wait till I get the cash back. Thinking interest rates are likely to rise???