Interest rates

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    I see the Interest rate have been reducded again….

    I wonder will this budget do anything for those with Fixed Mortages????/I am emailing in the frustration that this might get out there more in
    the public domain. Again we expect the ECB to cut interest rates
    today and our Minister for Finance will take this as another
    opportunity to state that costs are coming down etc and may use it to
    play around even more in next week’s budget.
    Alan Shatner
    raised this issue and I am hoping that as the main opposition, that FG
    will bring this up again, when this ECB cut is announced in the coming
    We have a fixed rate mortgage with ICS Building Society and are locked
    into it for another year. I rang them a few weeks ago after the last
    interest rate cut and was told rather bluntly that it would cost 5.5k
    breakage fee and before I had time to digest this enormous fee, the
    lady at the other end promptly hung up. Well this is money that we
    just don’t have ! I was on a parenting forum recently and am hearing
    more and more that some people are getting out of fixed rate mortages
    with no fee…AIB/PTSB were mentioned. Why can’t these guranteed or
    bailed out banks, do us a favour and help their customers.

    Just wondering is it worth sending this on to other TD’s…. I got in on Rollercoaster.

    Any views on it welcome


    I do feel very sorry for people on fixed interest rates to some level, let me explain…….whoever is on the fixed got full advantage of the hikes in interest rates…got off the tracker/variable to avail of it being fixed…but low and behold the rates start going down and we have the same peole now moaning that they are locked into a fixed rate, it is in your terms and conditions that there will be a penalty to pay if you break a fixed rate so it shouldnt come as a shock.

    Now here is where i feel sorry, some banks are letting people break them with no penalty while others arent i cant see how this is allowed, it should all be the same, some banks obviously seem more customer orientated than others…its not on and defo something has to be done about it.

    I myself am on a variable rate and have had full advantage of the drops in interest rates since dec my mortgage has dropped €180 a month, but i really dont see this as a full time advantage as im stuck on a variable so when rates go back up ill be hit but you can guarantee that peole on fixed rates wont be complaining then.

    Its a catch 22 and taking on a fixed rate on a mortgage is not something to be taken lightly.


    I do agreed with what you said

    But it was fixed – when times were good.

    Our income has been reduced in the last while… everything has got dearer – It should be fair for all…


    i agree it should be fair for all as in the banks should all be made either charge for penalty or not charge!!! They should all be the same.


    we have another 2 and half yrs left on ours. 🙁 But like yummy said they can go up as quick as they came down and im not getting no penelty for it 🙄 we had it on veriable for the first 2 yrs when we moved in and it was great but then we fixed it and it started to go up so we were glad when we did it then


    i was with my bank manager last week and he advised me to leave my loan variable for the time being as he reclons 1 maybe 2 interest rate cuts and then to fix the rate as it is nearly at the bottom and cant really go any further down… was quite surprised as when i went for loan i didnt think i’d get it but he said they are more or less lending as normal


    i agree with what yummy said, it’s a bummer for those who fixed and great for those on variable and tracker, we’re tracker and still paying the orginal amount in order to make over payments, so in turn we’re reducing our mortage overall so when interest rates go back up we won’t be shocked also we will have reduced our term etc etc….but for people on variable and tracker no doubt we will be screwed later on when they sky rocket again, unfortunately it’s pretty crap out there an nobody’s winning really in the long term, as wages decrease and people loose jobs…..what the problem is that people have huge mortages and they re-mortaged to have the luxuries and now are screwing themselves….

    hopefully everyone will see through this but personally if in fixed i know not great now but may be to your advantage in a year or so, when increases, but i wouldn’t buy out as you would perhaps regret it later….

    if we all had crystal balls we’d be laughing….


    Crystal Balls

    Would it really be good to see – whats around the corner?


    i know then we could have the lotto numbers too…lol….


    LIbby was that you on the radio today? If it was you you put a great case forward and you’ve opened a can of worms

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