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Mortgage Advice

  • 20-01-2010 6:08pm
    #1
    yogalady
    Registered Users, Registered Users 2 Posts: 526 ✭✭✭


    hi everyone

    i am looking for some advice. am on a varible rate mortgage since november. not sure whether i should switch to a fixed rate again before rates shoot up on me. Just wondering if it is a mortgage broker i should go and talk to and if so could anyone suggest someone good

    thanks a lot


Comments

  • #2
    h3000
    Registered Users, Registered Users 2 Posts: 6,467 ✭✭✭h3000


    I have been dealing with this guy and find him really helpful, might be worth a call.
    http://www.johnmullane.net/

    0118 999 881 999 119 725 3



  • #3
    MrFireBox
    Closed Accounts Posts: 57 ✭✭MrFireBox


    I am on a variable rate myself and was also thinking of fixing. I'd say the variable rates will start to go up towards the end of Feb or start of March. I won't be ringing a broker as I will be fixing either way, mind made up :D


  • #4
    bazz26
    Registered Users, Registered Users 2 Posts: 51,295 ✭✭✭✭bazz26


    I think economists are predicting a slow increase in interest rates from here on out.

    I have a fixed rate for 3 years, costs a little bit more than the standard variable rate but that is the price for the security of paying a pre defined amount every month.


  • #5
    lilstar85
    Closed Accounts Posts: 16 ✭lilstar85


    im taking out a mortgage and have been told i can only get variable... is it worth it?


  • #6
    bazz26
    Registered Users, Registered Users 2 Posts: 51,295 ✭✭✭✭bazz26


    lilstar85 wrote: »
    im taking out a mortgage and have been told i can only get variable... is it worth it?

    I'm no expert and can only go on my own experience but I would say that the reason for that is because the bank are basing the repayments on your monthly salary and calculate that a fixed rate mortgage which has a higher monthly rate may not be suitable/affordable for you according to their lending criteria.

    My only advice is to talk to an independant mortgage adviser and of course shop around. I'm sure there is also a dedicated forum here for this kind of thing too.


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