My fixed rate is up soon. Should I stay with my current provider or switch?
Briefly

Since fixed-rate mortgage holders will face potentially unaffordable repayments, seeking advice and planning next steps is crucial before accepting the rate offered by their current provider.
The European Central Bank's potential rate reductions may not immediately impact lenders' rates, leading to slow decreases and rates settling in the 2.5 to 3% range with added bank margins.
Mortgage lenders may not follow ECB rate reductions, as they haven't passed on full increases to mortgage holders previously. Pressure to increase rates for deposit holders may further complicate the situation.
Existing mortgage holders transitioning from fixed rates must prepare for higher monthly repayments, pass lenders' stress tests, and adjust to possible budget constraints compared to new home buyers.
Read at Irish Independent
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