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can we extend fixed rate

CJ1 · 2011-02-07 23:22:06

Currently have 234,000 mortgage on two bed apartment in Lucan, 24 yrs left on it. Current fixed rate mortgage for 3 yrs at 3.19% due to expire in August 2012. Will bank allow us to break and fix for longer, Would this be wise?

07-02-2011 11:22pm

#1

CJ1

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Posts: 47

Currently have 234,000 mortgage on two bed apartment in Lucan, 24 yrs left on it. Current fixed rate mortgage for 3 yrs at 3.19% due to expire in August 2012. Will bank allow us to break and fix for longer, Would this be wise?

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Comments

#2 08-02-2011 12:15am

Victor

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If you break, you may have to pay a penalty (not certain as rates are rising).

I think ask them about an extension of the existing rate. If they say no, wait a few days and ask them what rate they would give you.

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#3 08-02-2011 12:58am

Tigger

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CJ1 wrote: »

Would this be wise?

nobody can tell you what is going to happen to rates but they will certainly go up.

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