|
Mortgage
rates in Ireland are closely linked to the European Central Bank rate
- which has just seen several drops since October 2008 and is now at 1.25%
(April 2009)
At the Money
Guide Ireland web site - you can find up to date interest rate
figures and the
Lowest mortgage rates in Ireland
Also this Mortgage
Blog has news about mortgages in Ireland
House sales in Ireland have dropped sharply since early 2008 but late
2009 might see some sort of recovery with the lower interest rates and
lower house prices.
There is strong competition for mortgage business in Ireland - with brokers
being a major route for many borrowers.
Some lenders now don't deal wih brokers - such as NIB (National Irish
Bank) or Ulster Bank. There was bad publicity for mortgage brokers in
July 2008 when an RTE Prime Time program revealed that some brokers were
encouraging applicants to lie about income levels.
100 % mortgages
are now almost impossible to obtain - most lenders will not lend any more
than 92% of the house value now. Tracker mortgages have been withdrawn
for all new customers by all lenders apart from Leeds Building Society
Tax relief
on Mortgage Interest payments is still given in Ireland. More about
Mortgage Tax Relief here.
|
