Red FM: Ireland is once again the most expensive country in the Eurozone to take out a mortgage

Red FM: Ireland is once again the most expensive country in the Eurozone to take out a mortgage

Posted on 11Mar

New figures from the Central Bank show the average interest rate for new mortgages in Ireland is 2.79%

Ireland had the second highest rate in December but overtook Greece in January.

The average rate in the EU is 1.29%.

Joey Sheahan of MyMortgages.ie says while the difference in rates may seem small, it is significant:

“1% difference in your mortgage could be as much as 57,000 interest over the term, so if you have a 300,000 mortgage over 30 years that can be the difference of up to 57,000 over that term.”

Source: https://www.redfm.ie/news/cork/ireland-is-once-again-the-most-expensive-country-in-the-eurozone-to-take-out-a-mortgage/?cmpredirect


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