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Fixed rate

  • 17-08-2020 1:55pm
    #1
    Jordann
    Registered Users, Registered Users 2 Posts: 1 ✭


    I currently have a fixed deal until February (2021) and I’m wondering what the penalties would be for ending early and also switching from a repayment to an interest only mortgage. I’m considering buying another property so it doesn’t make sense to continue paying the higher amount when I intend letting this property with a view to selling it or paying it off before the life span of the current mortgage ends. I know with Covid I could prob take a 3 month break which takes me to December and closer to the current deal ending but this feels like a grey area. Any advice would be welcome


Comments

  • #2
    Bank of Ireland: Richard F
    Closed Accounts Posts: 483 ✭✭Bank of Ireland: Richard F


    Hi Jordann,

    Thanks for your post today on Boards.ie.

    Many factors would be taken into account when determining and assessing this. As these would be heavily dependent on your own personal circumstances and the lifetime of the Mortgage, we would recommend speaking with one of our Mortgage Specialists about this.

    Our team are available Monday to Friday 9am - 5pm. One of our colleagues will be happy to talk you through your options.

    We hope this helps.

    Thanks,
    Richard


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