New Finance Ireland mortgage rate to reach 6.2 to 6.9 percent

Robert Besser
14 Mar 2023, 17:18 GMT+10

Finance Ireland, is increasing its fixed mortgage rates by as much as 0.75 percent.
Three-year fixed rate loans will increase to 6.29 percent, and the new highest 5-year rate will be 6.22 percent.
Finance Ireland is a non-bank lender which, along with others, has faced greater pressure than banks to increase rates, since they are funded from the wholesale markets.

DUBLIN, Ireland: Finance Ireland, is increasing its fixed mortgage rates by as much as 0.75 percent.

Three-year fixed rate loans will increase to 6.29 percent, and the new highest 5-year rate will be 6.22 percent.

Finance Ireland also announced that 5-year fixed rates will increase by 0.5 percent, while 3-year fixed rates will increase 0.75 percent.

The new rates go into affect this week.

However, earlier loan offers will be honored at their stated rates, as customers have until April 17th to close.

"Cases at a pre-offer stage will have the new rates applied at loan offer," Finance Ireland said in a statement.

Finance Ireland raised its standard variable rate products by 1 percent in February.

The company increased both variable and fixed rates for its mortgage products in October by 1.5 to 2 percent.

Also in October, Finance Ireland suspended fixed rate mortgages for periods of 10 years or more to new applicants.

Finance Ireland is a non-bank lender which, along with others, has faced greater pressure than banks to increase rates, since they are funded from the wholesale markets where rates have greatly increased.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Iraq Sun.

More Information

17 ℃

Fair in Baghdad

International

Section

Seven dead, ten injured after chocolate factory explodes

WEST READING, Pennsylvania: An explosion occurred at a chocolate factory in Pennsylvania, killing seven people and seeing ten staff members ...

US, Canada looks to close border roads to migrants

OTTAWA, Canada: US President Joe Biden and Canadian Prime Minister Justin Trudeau have announced a plan to close a loophole ...

Migrants found in hot Texas freight train; two die, 10 hospitalized

UVLADE, Texas: Texas police stopped a Florida-bound freight train this week and discovered two migrants had died in a freight ...

Officials confirm 25 dead in Mississippi tornadoes, dozens injured

ROLLING FORK, Mississippi: A powerful tornado has struck Mississippi, killing at least 25 people, injuring dozens, flattening entire blocks and ...

Honduras to end diplomatic relations with Taiwan

TEGUCIGALPA, Honduras: In what could signal the end of his country's decades-long relations with Taiwan, Honduran foreign minister Eduardo Enrique ...

Focus on Chinese abuse of Uyghurs by US House

WASHINGTON D.C.: A new US Congressional committee focusing on China held its second hearing on the alleged abuses of the ...

Arab

Section