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Mortgage rates - fixed or variable?

  • 11-11-2014 4:53pm
    #1
    d13
    Registered Users, Registered Users 2 Posts: 26 ✭


    hi i bought a house last year and fixed it with an aib 1 year fixed.
    moving forward what would be recommended fixing again or variable.


Comments

  • #2
    Eldarion
    Registered Users, Registered Users 2 Posts: 484 ✭✭Eldarion


    Depends on your personal preferences really. Both have their benefits.

    Fixed gives you an exact amount coming out every month guaranteed for the Fixed Term.

    Variable allows you make early repayments without penalties.

    Your current LTV also comes into question now, currently the fixed rates on offer are actually lower than some of the variable rates.

    If you want some straight advice though I really don't think you can go wrong fixing at 3.8% or 3.9%. That being said, the bank is offering these rates for a reason, it could be because they are expecting variable rates to drop even more going forward.


  • #3
    d13
    Registered Users, Registered Users 2 Posts: 26 ✭d13


    aib fixed rates are much higher than 3.8or 3.9
    in my case there isnt much difference in fixing or variable.
    ill prob just fix.


  • #4
    Woodville56
    Closed Accounts Posts: 1,643 ✭✭✭Woodville56


    d13 wrote: »
    aib fixed rates are much higher than 3.8or 3.9
    in my case there isnt much difference in fixing or variable.
    ill prob just fix.

    Have you checked AIB rates recently ? Fixed rates are to be reduced to 3.8% for 2-3 yrs & @ 3.9% for 5 yr fixed. Currently AIB variable (LTV 50-80%) is @4.05%. Thinking of fixing for 2 or 3 yrs at these rates myself !


  • #5
    ted1
    Registered Users, Registered Users 2 Posts: 23,893 ✭✭✭✭ted1


    d13 wrote: »
    aib fixed rates are much higher than 3.8or 3.9
    in my case there isnt much difference in fixing or variable.
    ill prob just fix.

    no there movign to 3.8% for 4 years of 3.9% for 5 years, cheaper than the low LTV rates


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