Finance Ireland Announce A New 10, 15 & 20 Year Fixed Year Rate from Broker Only!
So what’s new in Finance Irelands offering….
- New rates from broker only Finance Ireland – introduction of the first 15 and 20 year rates to the Irish market.
- Fixed long term rates with flexible benefits!
- Finance Ireland mortgages can only be acquired via the broker channel i.e. doddl
Fixed Rate Revolution launching June available through dodd.ie
- A fixed rate that will reduce over time – as your LTV decreases so will your rate – this is unique in market
- A fixed rate that allows overpayment without early repayment charges – overpay up to 10% of mortgage balance each year
- Portability of the rate – with the 10, 15 and 20 year fixed rates from Finance Ireland if you want to move home during your fixed period, you can take your existing rate with you Any extra you want to borrow with Finance Ireland be arranged at an interest rate and term of your choice. No breakage fee would apply.
- Capped Break penalty – a maximum early repayment charge. This differs to most other lenders who do not cap the early repayment charge. The cap with Finance Ireland is 5% of the balance in Years 0-5 and 2.5% of the balance if you break the fixed rate early in years 5-10. On the 15 year fixed rate, 1.5% of the balance would be charged if you break out in years 10-12 and there is no break penalty if you break out after year 12. On the 20 year fixed rate 1.5% applies from after 10 years and up to 15 years with no penalty for breaking out in the last 5 years of the term
- Consumer Exposure to fixed rate penalties is greatly reduced – rates are applicable for homeloans not buy to let properties
Finance Ireland only offer their mortgage products through the mortgage broker channel. With the introduction last year of Avant Money as a broker only mortgage provider and the introduction of these longer term fixed rates available via brokers the broker market currently offers lowest market rate and longest term fixed rate. The broker market share has risen significantly over the last 18 months as consumers continue to recognise that the broker channel offers more choice and lower rate options.