Fix AIB Mortgage Rate?

muloc

Hi,

Am currently with AIB on a LTV<=50% rate of 2.75%.

With variable rates expected to rise this year is there any reason not to fix at this point?

There rates are:

2.35% for 3 or 5 year LTV<=50%

2.65% for the 4 year fixed LTV<=50%

Any idea why the 4 year is different? Doesn't make sense to me.

Thanks.

Newbie20

I am also AIB, got a mortgage in 2019 and fixed. Since then I have changed to a better fixed rate twice with no breakage fee. Outside of maybe wanting to pay lumps of the mortgage every so often, I can’t see why anybody would go for a variable rate when you can easily break out of a fixed rate.

muloc

Cheers. Will probably go for the 5 year fixed. Don't think I'll be paying lump sums of it somehow unless I win the lotto!

Bit of a no brainer really......my advice at the moment.....is TAKE THE 5YR FIXED......theres no way we'll see out 2022 WITHOUT an ECB rise..../ possibly 2 this year. That % for a 5yr fixed isn't bad, all things considered