Best Fixed Rate Mortgages

With many Irish lenders  increasing variable rate mortgages – some  homeowners might be  thinking about switching to a fixed rate mortgage.

The best 3 year fixed rate mortgage available at the moment is 4.6% from Danske Bank (Max LTV 50%).  See  the current lowest 3 year fixed rate mortgages.

Danske Bank have a    5 year fixed rate at 5.1%   also available  on an LTV of  50%  or less.

LTV means Loan to Value Ratio – an LTV of 60% means that the mortgage needs to be 50% (or lesss) of the value of your house.

See lowest 5 year fixed rate mortgages here.

Fixing your mortgage now for 3 or 5 years, hoping that this will cushion you against future variable rate rises – is a gamble. It might pay off or it might not.  Fixing will give you  the certainty of knowing what your payments will be for the next 3 or 5 years – which can be a good thing in itself.

Switching lenders to get a fixed rate will also incur legal and valuation costs which could well exceed any savings you might make.
Also – if  variable rates fall in the future you may be penalised if you want to get out of  a fixed rate deal before the expiry date.