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...BOI cut fixed rates...

  • 23-12-2024 10:04AM
    #1
    liamoreilly
    Registered Users, Registered Users 2 Posts: 408 ✭✭


    ... read last month that BOI have cut all fixed rates by 0.5% on new and existing mortgages... was expecting some kind of reduction but hasn't happened, wondering would it be starting at a later date or something but can't find any reason why... anyone any idea?.



Comments

  • #2
    copacetic
    Subscribers Posts: 16,750 ✭✭✭✭copacetic


    Fixed rates were cut for new mortgages, new or existing customers, not existing mortgages. Not for existing customers on fixed rates. This is always the way. Sometimes lower rates exclude existing customers which I assume is why they mention existing customers in the announcements.



  • #3
    Geuze
    Registered Users, Registered Users 2 Posts: 14,327 ✭✭✭✭Geuze


    https://www.boards.ie/discussion/2058385414/boi-cut-fixed-rates

    Obviously if a borrower is already on a fixed rate, there is no change.

    Otherwise, the borrower would have a variable mortgage!!!

    The changes announced apply to new mortgages.



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