Mortgage Interest Rates in Ireland Compared
We regularly do a comparison of mortgage rates on offer to new customers from the major Irish lenders. Listed below are the lowest home loan rates on offer for you to make comparisons. We compare variable rates as well as a selection of short term fixed rate mortgages.
A lot of people are affected by mortgage rates – at the end of 2017 there was €120.5 billion worth of mortgages outstanding. This was made up of Private Dwelling Home loans of €98.5 billion and Buy to Let lending of €21.9 billion;
Interest Rates Updated June 2018
More information here on How Much You Can Borrow
New :- Low Interest rate mortgages as low as 2% fixed for 25 years are now available for some people from local authorities – more here about these Rebuilding Ireland Mortgages
Fixed Rate or Variable – Which is Best ?
The most important thing to remember is with a fixed rate, you have the safety of knowing exactly what your mortgage repayments will be for a certain period of time. You will not be affected by sudden increases )or decreases. With interest rates at their lowest for many years – it is likely that variable rates will increase during the next 5 to 10 years.
Over the past several years it was usually the case that variable mortgage rates were often lower than fixed rates – but right now some of the fixed rate deals are at their cheapest ever and some are lower than variable rates.
Mortgage Incentives :
BOI offer 2% cashback to all new customers and 3% to those with current accounts with them. (no maximum cashback)
PTSB also offer 2% cashback lump sum for new customers and 2% of the monthly repayments back until 2027
EBS also give 2% cashback to all new mortgage customers.
Ulster Bank offer €1500 towards legal fees for all new customers.
KBC will give €3000 to mortgage switchers only.
AIB give €2000 cashback for mortgage switchers.