Are More Variable Rate Cuts On The Way

[Reflections]

Hi All,

With the recent news of some of the banks being massively back in profit and then yesterdays news of another cut in the ECB rate, what are the chances of further mortgage variable rate cuts in the near future?

 

[Mackemdub]

would have thought nothing will happen until we at least have a government.

AIB have always led the charge with SVR cuts but in my view are unlikely to do so without some government arm twisting and i can't see any other banks being in a rush to reduce them first

 

[WorstPigeon]

Well, these people are meant to be launching at some point: http://www.independent.ie/business/...tgage-lender-to-shake-up-market-34425862.html

Might put some pressure on the banks.

 

[Cervelo]

would have thought nothing will happen until we at least have a government

Don't think the banks care if there is a government or not, they don't listen to the government unless its in their best interest (forgive the pun)

 

[Páid]

The Big Bank Switch might also put pressure on the banks - https://www.onebigswitch.ie/news/category/the-big-bank-switch

I think that if AIB or EBS are sold the first thing the new owners will do is put up the SVR.

 

[Paul Reilly]

No variable cuts on the way

As much as I hate to say FF would have had to win election as they have a lot of mortgage fairness in their manifesto.

Overpay until your in positive equity then switch. Thats what im doing but have to wait 7 years for that possibly.

Other parties have no mortgage policies

Banks are like bookies

They laugh at you

 

[WorstPigeon]

The Big Bank Switch might also put pressure on the banks - https://www.onebigswitch.ie/news/category/the-big-bank-switch

I think that if AIB or EBS are sold the first thing the new owners will do is put up the SVR.

I'd be a little surprised at that; they'd potentially lose a lot of their recent new business to KBC and Ulster Bank, who both offer similar rates (though in the case of UB only at <80% LTV)

 

[Páid]

I'd be a little surprised at that; they'd potentially lose a lot of their recent new business to KBC and Ulster Bank, who both offer similar rates (though in the case of UB only at <80% LTV)

Not everyone can switch.