Sunnysoutheast
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We switched to Avant 7 year 1.95% rate in January 2022 - monthly mortgage is now €1033.
Thinking of moving to 2.5% fixed rate with Avant for remainder of term (22 years) with a monthly mortgage payment of €1093 per month (no break fee). Reason: security. In 7 years time when we come off the fixed rate mortgage rates could be a lot higher!
Thoughts?
Our mortgage broker is saying a lot of new customers are opting for fixed rates over a long period. Note: approx 2% early redemption fee if we did have a lump sum in the future to pay off mortgage, also can pay 10% off mortgage balance in any one year.
Thinking of moving to 2.5% fixed rate with Avant for remainder of term (22 years) with a monthly mortgage payment of €1093 per month (no break fee). Reason: security. In 7 years time when we come off the fixed rate mortgage rates could be a lot higher!
Thoughts?
Our mortgage broker is saying a lot of new customers are opting for fixed rates over a long period. Note: approx 2% early redemption fee if we did have a lump sum in the future to pay off mortgage, also can pay 10% off mortgage balance in any one year.