Hi, my existing bank offered to reprice my loan package to variable rates with a 3 yrs lock-in.
Yr 1 - 1.08% (MR less 3.42%)
Yr 2 - 1.18% (MR less 3.32%)
Yr 3 - 1.48% (MR less 3.02%)
Bank claim that its the lowest and its good for those with no intention to sell their property within the nex 3 yrs, and SIBOR packages are not encouraged. Is that true?? Will Mortgage rate increase within these few yrs. Should I continue with my existing bank? Very confused