Government Backed Mortgage Rate Rises by 1.3%

The Irish Government backed Home Choice Mortgage scheme – have increased their mortgage rate from 2.9% to 4.2%. That is an increase of 1.3%  – way more than the recent 0.25% ECB rate rise.

Until this big jump – the Homechoice mortgage  rate was the lowest available in Ireland.  It is no longer at the top of our table of the lowest mortgage rates.

Homechoice mortgages are only available to first time buyers who have  have been refused loans by two or more other lenders. The number of applicants is thought to be very low –  more about the Home Choice Mortgage here .