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BoI - Interest Rates

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  • 16-06-2021 12:15pm
    #1
    CreativeSen
    Registered Users Posts: 90 ✭✭


    Hi all, apologies if this is in the wrong place.

    We are currently in the process of remortgaging, using a broker. Since November last year he has repeatedly told us that there is an impending rate cut to BoI mortgage interest rates....it seemed like a great deal at the time but we are now over 6 months waiting.

    I cannot find any references online to suggest that a rate cut is imminent, would anyone know where i could find out?


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    #2
    Q&A
    Registered Users Posts: 556 ✭✭✭Q&A


    Perhaps they know something the rest of us don't but it sounds like speculation on the brokers behalf.

    BOI would have one of the higher rates on the market right now. While they do offer good cashback there is a trade off between rates and cashback.

    While a rate cut is not impossible i would think BOI are more focused on buying KBC's loan book than competing on rates. Especially given the number of lenders are set to decline. But speculation on my behalf this time.


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    #3
    zg3409
    Registered Users Posts: 6,642 ✭✭✭zg3409


    Shop around for your mortgage. Avant is typically cheapest t the moment but it depends on your loan to value, amount of years you want fixed, and your status etc

    Without clear numbers its hard to give advice. Generally BOI is not cheap and things like cashback muddle the actual rates, and typically are bad value

    Banks only drop rates , particularly BOI when people leave them to go to other providers.


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