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Fixed or Variable Rate?

  • 21-06-2022 10:50am
    #1
    Leftwaffe
    Registered Users, Registered Users 2 Posts: 1,558 ✭✭✭


    Hi all,

    Just a quick query I'm hoping someone can help me with.

    I'm almost at loan offer with AIB for a direct labour self-build. This has to be a variable rate throughout the build process. We can then progress to a green mortgage thereafter fixed for 5 years.

    Just wondering if I should switch to a different provider in order to get a fixed rate throughout the build process? EBS offer fixed rate from the first draw down. We don't want to be crucified when the rates go up, which I believe is coming, perhaps a couple of times.

    Also want a provider who is easy going when we are at sign off stage of the build as I will will be carrying out some of the work myself and paying some tradesmen in cash (I understand risks here, no need to explain!). AIB are supposed to be good in this aspect. I have an engineer sorted for signing off on stages.

    Any advice very much so appreciated.



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