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Unfixing a fixed rate

  • 05-03-2009 01:07PM
    #1
    Rew
    Moderators, Sports Moderators Posts: 8,683 Mod ✭✭✭✭


    We fixed as rates were going through the roof last year. Whats the general story with getting out of a fixed rate. Im going to have a chat with the bank about our specfic case but I'd like to know the general info.


Comments

  • #2
    Thomas_S_Hunterson
    Closed Accounts Posts: 6,151 ✭✭✭Thomas_S_Hunterson


    It's more than likely going to cost you big time.


  • #3
    Rew
    Moderators, Sports Moderators Posts: 8,683 Mod ✭✭✭✭Rew


    Yeah thats the impression im getting, costing me big time already! :(


  • #4
    Thomas_S_Hunterson
    Closed Accounts Posts: 6,151 ✭✭✭Thomas_S_Hunterson


    Rew wrote: »
    Yeah thats the impression im getting, costing me big time already! :(

    Yup, in a nutshell, the bank will likely just want you to pay up front whatever profits they would have made keeping you on the fixed rate.


  • #5
    dotsman
    Registered Users, Registered Users 2 Posts: 3,636 ✭✭✭dotsman


    See here


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