'Now is a good time to fix your mortgage'
EBS and its Haven associate are now offering the most competitive mortgage rates for first-time buyers and for those trading up. While all three of the main lenders into the Irish housing market have increased their rates, EBS has not increased its variable rates as much as Bank of Ireland or AIB.
For instance EBS' APR rate, on variable mortgages, at 2.6pc, works out at 0.33pc or 33 basis points less than AIB.
But mortgage broker Michael Dowling advises buyers to opt for the fixed rates and points out that AIB's fixed rates over three years are the most competitive for first-timers and investors. Irish Nationwide offers the most competitive three-year fixed rates for those trading up and who also need to borrow less than 70pc of the value of the property. He also points out that EBS/Haven are offering a keen 3.68pc APR for its four-year fixed rate.
"I believe that variable Irish mortgage rates will almost double within the next 12 months to around 4.5pc to 5pc, so now is a good time to fix," Mr Dowling adds.