Switch your mortgage & save up to €100,000 Expert says competition ‘heating up’
Gary as boy
GARY Lineker hangs out with his first team squad as he enjoys a night with his four sons.
In a touching photo shared with his one million followers on Instagram, the 59-year-old Match of the Day host captioned a photograph of the family sat around a table simply: “The Boys”. Gary looks on proudly with George, 28,
MORTGAGE experts say homeowners could save up to €100,000 by switching to the lowest rates.
With specialists predicting the competition will begin to “heat up”, AIB has become the latest bank to announce a cut in its fixed loans.
It was claimed 220,000 borrowers currently on standard variable rates of up to 4.5% could benefit.
AIB announced yesterday it is cutting its three and five-year fixed
Tobias, 24, Harry, 26, and Angus, 22, who gathered on Saturday night it is thought to celebrate Tobias’s birthday.
Fellow ex-england striker Ian Wright quipped “More Ears” in a quip about Gary’s prominent features, while pundit Danny Murphy joked, “There maybe [sic] trouble ahead. Enjoy”. rates from 2.85% to 2.55% and its green five-year fixed rate from 2.5% to 2.45%. This is its second mortgage rate reduction in less than 12 months. It comes on foot of rate cut from KBC Bank just last week and from Ulster Bank last month. Martina Hennessy, a mortgage expert at doddl.ie, told RTE Radio 1’s Today With Sean O’rourke: “You’d hope over the next few months other lenders who haven’t reduced rates recently may start to drop their rates. People don’t realise they can switch or how much the savings can be. They fear it’s complex and costly – it isn’t.”
Ms Hennessy said if a homeowner with a 4.5% rate on a 30-year mortgage with a balance of €300,000 switches to the lowest rate of 2.2%, monthly repayments would fall from €1,520 to €1,139.
This would mean a savings of €381 per month or €22,860 over five years. But homeowners could save more than €100,000 – and cut nearly 10 years off their home loan by making the same payments at the lower rate.
Meanwhile, Mymortgages.ie spokesman Joey Sheahan said he expects competition to “heat up”.
He added: “Existing and prospective mortgage holders should take note – there is great value on fixed rates.
“If you are applying for a mortgage, then you absolutely need to look at what all lenders are offering.
“And if you are already tied into a mortgage contract, then you should look at what your switching options are.”
10 years could be cut off a mortgage if customers shop around