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Mortgage Rates:
May/June 2009
The recent announcement of a further .25% cut by ECB (European Central Bank) of the base-lending rate to 1% will result in a saving of €40 per-month-savings on a 30-year €300,000 mortgage - - a total monthly reduction of circa €600 since last October.
The decrease of 0.25% makes for a combined cut of 3.25% since early October, bringing it to the lowest level in the bank's history.
Unfortunately Tracker Mortgages are almost a thing of the past for new borrowers.
What is on offer now is Standard variable Rates and Fixed rates:
The typical Variable rate as of 1st June 2009 is somewhere between 2.25% (APR 2.28%) for <50% LTV & 2.65% (APR 2.68%) up to 92% LTV
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Rate |
APR |
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Cost per EUR'000 over 20 years |
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AIB Variable
50 -80% LTV |
2.45% |
2.48% |
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5.27 |
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Haven Variable <= 80%LTV |
2.65% |
2.70% |
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5.37 |
Currently the ECB rate is 1.00%.
These rates may vary depending on the type of mortgage, LTV and the amount.
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1 Year Fixed |
2.40% - APR 2.43% - FTB ONLY
2.85% - APR 2.89% |
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2 Year Fixed |
2.80% - APR 2.84% |
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3 Year Fixed |
3.10% - APR 3.14% |
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5 Year Fixed |
3.69% - APR 3.75% |
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10 Year Fixed |
4.41% - APR 4.49% |
Click here to calculate the cost of your mortgage>>
The above rates are from the Financial Institutions we have agencies with.
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