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Repaying a fixed rate BOI mortgage early

  • 24-10-2020 8:07pm
    #1
    [Deleted User]
    Posts: 0 ✭


    Hi,

    Myself and my wife are in the lucky position of being able to pay off our mortgage with one lump sum repayment but its a fixed rate mortgage with 2 years left on the original term of 7 years fixed. The mortgage principal is currently EUR 120,000. I read on the BOI website "YOU MAY HAVE TO PAY CHARGES IF YOU PAY OFF A FIXED RATE LOAN EARLY" but it doesnt specify what those charges might be or how they are calculated. Is there any way of avoiding them or we are better off repaying the mortgage as normal over the next two years until we move onto the variable rate?


    Thanks


Comments

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


    Hi Unedumacated,

    Thanks for getting in touch with us this morning.

    For more information on the charges associated with paying off your Mortgage early, it would be best to link in with our Mortgage Specialists on 016113333. One of our colleagues will be happy to go through this with you and answer any queries you may have.

    We hope this information helps. Feel free to get back in touch if we can help with anything else.

    Many thanks,
    Richard


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