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fixed term up - to fix again or not....

  • 15-06-2010 8:11am
    #1
    niamh4626
    Registered Users, Registered Users 2 Posts: 305 ✭✭


    Hi there,

    I bought an apartment this time last year and took out a fixed term mortgage (I thought it was for 2 years but the bank say it was only for 1 year) which is expiring at the end of this month.

    I am currently with ESB.

    Do people suggest I fix again for a longer period or leave it as variable. I plan on living in the apartment myself probably for the next 3/4 years and then (hopefully) release some equity to build on a plot of land down the country and rent the apartment out. I am not on a massive wage and do think that I'd like to fix again however, I dont want to be paying over the odds if variable rates are not going to increase....

    Please let me know what you think.


Comments

  • #2
    [Deleted User]
    Posts: 23,339 ✭✭✭✭ [Deleted User]


    I'd never fix to be honest, I can't see the banks not covering themselves. Fingers crossed on the equity, I bought 5 years ago (didn't think it was that long ago) and don't expect much equity to be there in 3 / 4 years :(.


  • #3
    MRBEAVER
    Closed Accounts Posts: 206 ✭✭MRBEAVER


    niamh4626 wrote: »

    I am currently with ESB.

    .

    didn't realise that they did mortgages. Why not make the big switch to Bord Gais for better rates.


  • #4
    niamh4626
    Registered Users, Registered Users 2 Posts: 305 ✭✭niamh4626


    MRBEAVER wrote: »
    didn't realise that they did mortgages. Why not make the big switch to Bord Gais for better rates.

    That should have read EBS smart ar5e!!!!!!!! Good spot!;)


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