Competitive mortgages ?

[beekeeper]

I have just left a job where we had a very attractive mortgage deal with a bank so I am in the process of looking at the best rates available in the market. My house is worth c.650 and I owe c.350. Can anybody point me in the right direction.

 

[ClubMan]

Mortgage list in the Irish Times property supplement on Thursday?

 

[Dave Vanian]

Best tracker rate for this LTV would be National Irish Bank at ECB + 0.6%.

 

[Jonathan.OB]

and the rest, based on single applicant and a 25 year term

AIB Bank Discounted Tracker (1 Year) (New Business) 80% 4.45% €1,936
Bank of Scotland Tracker (ECB + 0.70%) 80% 4.70% €1,985
E.B.S. Fixed 1 Year (New Business) 95% 4.74% €1,995
Bank of Scotland Fixed 1 Year (All Customers) 95% 4.75% €1,995
E.B.S. Tracker (New & Existing Business>250k) 60% 4.75% €1,995
Permanent TSB Tracker (All Business) 60% 4.75% €1,995
AIB Bank Tracker (New & Existing Business) 80% 4.75% €1,995

J

 

[infodaz]

your ltv is very low so you will avail of better rates than someone with a higher loan to value... so well done there to start!

Yes rates above are very good but if you can hold out for a wee while the fixed rates will hopefully drop soon enough.

What rate and term are you on now?? and what lender??

 

[beekeeper]

Thanks folks.. was on a very attractive rate of 4.56 % fixed to end '09.... the benefits of working for a bank !!!

 

[Jonathan.OB]

very attractive - depending on when you fixed.

 

[LDFerguson]

If you're keen to fix, AIB have a rate of 4.85% (APR 5.32%) fixed for two or three years.

 

[irishlinks]

Best tracker rate for this LTV would be National Irish Bank at ECB + 0.6%.

The actual rate NIB would give on these figures would be ecb plus 0.51 % . Lower than the original poster's current rate. They won't get lower than that . (maybe a 1 yr discounted rate but not long term).

 

[euromortgage]

You should try and hold off for the next month as the talk seems to be that the rates will drop. Banks in Ireland are generally very good in quickly following suit.

 

[irishlinks]

You should try and hold off for the next month as the talk seems to be that the rates will drop. Banks in Ireland are generally very good in quickly following suit.

DO not hold off if you are going for a tracker mortgage? If ECB rates fall
the trackers just follow suit.

 

[euromortgage]

Irishlinks is right, if your going for a tracker, you dont need to wait, it will track the ecb rates

 

[Kemo_Sabe]

re. variable rates: don't forget that with the credit crunch situation that banks now find themselves in, it's entirely possible that they would not pass on all/any of a ECB rate cut to their customer base

 

[EVGR]

Careful here.

Also, watch out for some lenders whose "tracker" mortgage aren't in fact genuine tracker mortgage at all (I think PTSB might be one of those, and I would be initially suspicious of something called a "1 year tracker" as quoted for AIB above).

Why is the PTSB not a genuine tracker mortgage?