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Best fixed rate around

  • 27-01-2018 09:57PM
    #1
    ted1
    Registered Users, Registered Users 2 Posts: 23,653 ✭✭✭✭


    I’m thinking about fixing for ten years. My LTV would be about 38% and the mortgage is less than 200k.

    Who are offering the best rates ? What do you think about fixing now ?


Comments

  • #2
    blindside88
    Registered Users, Registered Users 2 Posts: 1,957 ✭✭✭blindside88


    KBC seem to have some very attractive fixed rates. In particular there 10 year rate which gives certainty and peace of mind. I envisage rates staying fairly steady in the short term because of the mortgage war for switchers which we’re seeing across the banks. It’s always a catch 22 when fixing as no one knows what will happen. If you plan on keeping the house for as long as the fixed rate term at least it’s not a bad move to fix as it gives you peace of mind as regards monthly payments. Best of luck it’s what ever you decide


  • #3
    Trish56
    Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭Trish56


    KBC are offering 10 year fixed at 2.95% and giving 3k back in cash.


  • #4
    sweet 78
    Registered Users, Registered Users 2 Posts: 59 ✭✭sweet 78


    Any one help me .
    I have 20 years left in my mortgage.
    Was going to fix my rate for 5 years at 2.8.
    But I want to start paying my mortgage off early what the best way to do this and pay less interest and hope pay off the loan a few years early
    Do I fix and save for the next five years and then put a lump some in after the 5 years or will this cost more on interest over this time .
    Anybody advise


  • #5
    blindside88
    Registered Users, Registered Users 2 Posts: 1,957 ✭✭✭blindside88


    sweet 78 wrote: »
    Any one help me .
    I have 20 years left in my mortgage.
    Was going to fix my rate for 5 years at 2.8.
    But I want to start paying my mortgage off early what the best way to do this and pay less interest and hope pay off the loan a few years early
    Do I fix and save for the next five years and then put a lump some in after the 5 years or will this cost more on interest over this time .
    Anybody advise

    Some banks will allow you to pay a lump off when in a fixed term without penalty so it’d be worth calling your advisor


  • #6
    Trish56
    Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭Trish56


    You can ask your lender to reduce your term by 5 years however this would not be reversible. Some lenders allow you to pay 10% off capital when on a fixed rate so you really need to discuss with your lender. Another alternative is to get a split rate mortgage x amount fixed and x amount variable so that you can make lump sum payments off the variable part when suits.


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  • #7
    fiestaman
    Registered Users, Registered Users 2 Posts: 1,195 ✭✭✭fiestaman


    Im in the same boat at the moment, im with BOI and they offer 1,3,5 yrs at 3% or 10yrs at 3.3%. I am thinking of switching bank to KBC as there rate is cheaper and a cash back too. Its hard to know what to do, really all your doing is gambling, fixing gives certainty, its hard to see rates coming down much (just my opinion, i know noting about banks) The way i was looking at it is for me if the interest rate drops 1% that would mean a saving of around €70 a month, so if i fixed at 2.9% with KBC and then the rate dropped to 1.9% then id be paying €70 more per month over 10yrs which is €8400. But thats not taking into account the €70 i would be saving if i fixed now without them moving for the next while. Nobody really can answer our questions.


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