Homeowners could save up to €100,000 as competition between mortgage providers expected to ‘heat up’

Homeowners could save up to €100,000 as competition between mortgage providers expected to ‘heat up’

by MyMortgagesCategories NewsTags ,

MyMortgages.ie spokesman Joey Sheahan said he expects competition to “heat up”.

He added: “Existing and prospective mortgage holders should take note – there is great value on fixed rates.

“If you are applying for a mortgage, then you absolutely need to look at what all lenders are offering.

“And if you are already tied into a mortgage contract, then you should look at what your switching options are.”

Mortgage experts say homeowners could save up to €100,000 by switching to the lowest rates.

With specialists predicting the competition will begin to “heat up”, AIB has become the latest bank to announce a cut in its fixed loans.

It was claimed 220,000 borrowers currently on standard variable rates of up to 4.5% could benefit.

AIB announced yesterday it is cutting its three and five-year fixed rates from 2.85% to 2.55% and its green five-year fixed rate from 2.5% to 2.45%. This is its second mortgage rate reduction in less than 12 months.

Meanwhile, MyMortgages.ie spokesman Joey Sheahan said he expects competition to “heat up”.

He added: “Existing and prospective mortgage holders should take note – there is great value on fixed rates.

“If you are applying for a mortgage, then you absolutely need to look at what all lenders are offering.

“And if you are already tied into a mortgage contract, then you should look at what your switching options are.”

Read the full article here –
https://www.dublinlive.ie/news/business/homeowners-could-save-up-100000-17808147


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