Coming to the end of fixed rate on Mortgage

skywalker_208

I have just reached the end of my fixed rate which was nice and low - but the bank in question has one of the highest variable rates on the market at the moment.

I have looked into switching and can move to another banks variable - pay a little bit more - but bring the loan term down by 10 years!

Apart from the fact that it will cost a bit of money to move in legal fees and the hassle etc - is there any disadvantages to moving mortgages in todays current economic climate?

seamus

I think you'll do well on a variable rate for at least the next 12-18 months. If you can drastically reduce the term of your mortgage like you say, I see no reason not to go for it!

will1977

Sorry for Hi jacking this but I'm in a similar position. My fixed rate of 3.47% !! is up in 3 weeks. Def goin to stick with the variable rate for the time being but am looking to shop around. Does anyone know any good comparison sites for this ?? Thanks

skywalker_208

Wow 3.47% was good!

http://www.finfacts.com/Private/dip_rate/mort_var.htm is updated pretty regularly

Ogham

Lowest mortgage rates on Money Guide Ireland.
Some lenders are still offering to pay towards legal fees for switchers

skywalker_208

Bank of Ireland are paying up to €1000 towards fees when your switching.