NEW FIGURES SHOW 15% OF MORTGAGE HOLDERS SWITCH PROVIDERS
With Danish banks heralding the advent of negative mortgage rates, which means that homeowners could be actually paid to borrow money to buy a home, Irish homeowners may understandably be expecting a similar boon here. However, is such optimism misplaced?
Earlier this month, Jyske Bank A/S, Denmark’s third-largest lender announced ia mortgage rate of -0.5 per cent, before fees, while fellow Danish bank Nordea Bank Abp, is offering 30-year mortgages at annual interest of 0.5 per cent, and 20-year loans at zero.
So is this the start of something that could eventually benefit Irish homeowners, as the European Central Bank’s quantitative-easing programme continues to make its presence felt on European markets?
Well, perhaps not.
5 year fixed >300K loan is now 2.2% (was 2.5%)
10 year fixed <80% LTV is now 2.95%
10 year fixed 80-90% LTV is now 3.15%