Do you think there'll be any more cuts in fixed rates?AIB is the only bank completing on variable rates.
The other banks want fixed rates. Bank of Ireland for example have publicly stated this policy. But the actions of the others shows they are following similar policies.
I can't see any reductions happening on SVRs.
Yes.Do you think there'll be any more cuts in fixed rates?
I would question the value in variable rates at the moment. The big issue in the past was you were not able to break out of the fixed rate without heavy penalties plus it was very difficult to overpay the mortgage while on a fixed rate.I accept there are good fixed rates on the market(UB for one) but what about variables?...
Can this be really as good as its going to get?
KBC had a 2.95% 10 year rate a while back but has increased it slightly to 3.15% or so at this stage. The person I spoke to in KBC said the take-up was very poorIt'd be good to see sub 3% 10 year rates; a BOI reduction to 3%, while maintaining current cashback would bring the effective rate under 2.7%. I think that scenario is more likely than a sub 2% short term rate.