BOI cuts rates, but for new customers only

leonmahon

Registered User
Messages
178
http://www.irishtimes.com/business/...-relief-for-variable-rate-customers-1.2055185

mortgages-6.png


They are REALLY trying to make people fix. The two year <75% fix is less than the <60% variable, and existing customers can only avail of these new rates by fixing.

What can we infer from that?
 
Here is the [broken link removed]

So if you are on a Bank of Ireland SVR, you are paying 4.35% or 4.5%.

If you have got the LTV below 60% - tough. You can't avail of the rate of 3.9% for new customers announced to day.

So you should simply move to KBC or AIB.
 
They are REALLY trying to make people fix. The two year <75% fix is less than the <60% variable, and existing customers can only avail of these new rates by fixing.

What can we infer from that?

If you borrow 75% LTV as a new customer, you will pay 4.2% variable.
But if you fix for 5 years, you will pay 3.95%.

This means that they expect that they will be cutting the rates further over the coming months.

People should not fix.

Brendan
 
Back
Top