how the bank works is it is the difference between your fixed...

how the bank works is it is the difference between your fixed rate and their current variable rate.

They then have to times (x) the number of months left by the differnce in rpayments.

The loss they would incur........seems that would be 98k.


heres one alternative.

Tell them you are willing to pay a higher variable rate than the current rate.

This will reduce the break costs.

Say u drop from the 8.2 to even 7.5

Then if rates drop further you would still recieve any benefit.

cheers