Brendan Burgess
Founder
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Finance Ireland reduces long-term fixed mortgage rates
Finance Ireland has reduced its long-term fixed mortgage interest rates.
3. €1,500 Professional Fees Contribution
Customers switching their mortgage from another lender to a Finance Ireland long term fixed rate can avail of a €1,500 contribution towards their professional fees. This contribution will be payable post-completion on new full applications received between 4th January and 31st March 2022.
- Applies to straight-switcher cases only – no additional borrowings.
- Applies to customers seeking a 10, 15, 20 or 25 year fixed rate only – 3 and 5 year fixed rates are excluded.
- Applies to new business only – existing pipeline is excluded. Full application must be submitted between 4th January and 31st March 2022 and complete within the validity period of the first offer letter issued.
- PDH loans only – buy-to-let cases are excluded.
Straight-switcher customers looking for long-term certainty can now make the switch to Finance Ireland and receive a significant contribution to their fees, leaving them to enjoy the benefits of the most innovative long-term fixed rates available on the market today.
Pipeline Treatment – Fixed Rate Reductions
Drawdowns between now and Monday 6th December will fund on existing rates. For pipeline customers who will not have funded by this date and who want the reduced rates, the following will apply at each stage of the process:
- If case is at AIP stage @ 6th December - Simply re-run the case at AIP and select the applicable rate.
- If case is FMA to pre-offer stage @ 6th December – We will apply the new reduced rate to your customer’s application when promoted to loan offer stage. You do not need to take any action.
- If case is at Offer Stage @ 6th December – Please note that a revised letter of offer will be required to avail of the new rates, otherwise the case will complete on its current rate. If a revised offer letter is needed, please advise your BDM and email the case reference number to the team at our post-offer mailbox – [email protected] - who will issue your new offer promptly.
Please note that flexibility will be applied for customers requiring new documentation as a result of this change as we approach Christmas cut-off dates.
A full rate matrix and updated product brochure will be circulated next Monday 6th December. We are delighted to further enhance what we believe to be one of the most significant product innovations in the Irish mortgage market, offering a level of certainty and flexibility not before available to Irish consumers.
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