Why are 20% of new mortgage holders paying high variable rates when they could fix at a much lower rate?

If I fix all of the variable or a part of the variable - do I have again fees with the solicitor on that?
No, there are no fees for fixing.

I didn't have a fixed rate, but I used to overpay frequently on a variable mortgage, and everytime I did they had to send me a letter. I've a stack of them in my file!

As things currently stand, AIB cannot charge you a break fee on your 3 year fixed rate. To do so, they would first have to reduce the 2 year rate below the rate you're paying. Covered here
 
As things currently stand, AIB cannot charge you a break fee on your 3 year fixed rate. To do so, they would first have to reduce the 2 year rate below the rate you're paying. Covered here

Just have a question - is there something stopping AIB from reducing the 2 year rate to below their 3 year fixed rate? Why is there an assumption they would not do it?
 
Where exactly did I make that assumption?

Sorry, maybe I used an incorrect wording.
It's just by reading various posts on this subject I got an impression that there is something preventing AIB from reducing their 2 year fixed rate to below their 3 year rate?
So just asked if I understood if correctly and if I did then what is it?
 
Sorry, maybe I used an incorrect wording.
It's just by reading various posts on this subject I got an impression that there is something preventing AIB from reducing their 2 year fixed rate to below their 3 year rate?
So just asked if I understood if correctly and if I did then what is it?
No, there is nothing to prevent AIB reducing their 2 year rate.

If they don't drop it below the current 3 year rate, then they cannot charge a break fee for those on the 3 year rate.

I didn't intend to imply that they cannot do so, so feel free to correct any wording where it reads as an assumption. Or ask any question where I can make the scenario clearer to understand.
 
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