Finance Ireland announces substantial rate increases

Brendan Burgess

Brendan Burgess

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From 27th June 2022:



  • 3 and 5 year fixed rate products will increase by 120bps across all LTV bands (Progress & Progress Plus).
  • Rates for longer term products (10, 15, 20 & 25 years) will increase by 50bps

Loan Offers honoured at current rates


All loan offers issued by cob Friday June 24th 2022 will be honoured at current rates provided funds are drawn by cob Friday August 12th 2022. Where a loan offer subsequently expires or any amendment is requested to an existing loan offer, the new/revised offer will be issued on our increased rates.


Any fixed rate application not at loan offer by cob Friday June 24th 2022 will fund at our new rates, subject to any necessary reassessment of affordability.
 
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Damn.

Think I left it too late to get a good deal. Could fix with my current bank KBC for 10 years at 2.85%
 
Paul F said:
@The Oggster Avant's 10-year rate is still 2.4%

Slightly off topic but can anybody estimate what the typical time is between submitting a mortgage application and getting a loan offer?
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This has certainly put a fire under me anyway. Raging I didn't switch at the start of the year when Avant were offering cashback. I will continue with my application to AIB too. Same documents the broker will want for Avant.
 
I am gutted to hear this news, although I knew it was coming.

My application has been with Finance Ireland since May 16th.

I have not received a loan offer as of yet.

I ended ringing FI to chase this then myself. I was advised my application is with the underwriter.

I doubt I will get my loan offer by next Friday at this rate.
 
lexio7 said:
I doubt I will get my loan offer by next Friday at this rate.
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I wonder will they delay issuing loan offers over the next couple of days?

But fair play to them for honouring loan offers already out. Because they do have a clause in them which says that the rate will be the rate prevailing on the day the loan is drawn down.

Brendan
 
Our valuation report was submitted to FI last week as part of a switch so I'm hoping we'll be OK. Any idea how long it takes PTSB to send deeds to your solicitor?
 
Afternoon all
I'm in the process of trying to fix longterm with FI.
Valuation done and sent in last Monday and advised by Valuer thats its been sent in on Tuesday.
I have been ringing everyday since Its not reviewed as of today. Wondering will they honour the rate for me as there doing for ppl with loan offer before Friday week???
Would anyone have any insight pls.
 
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