Bank of Ireland offers FTB new fixed rate

[TheBigD]

Report on RTE site

Wonder if any of the other banks will respond to this in an attempt to get market share?

 

[Locke]

Hmmm interesting to see how banks react.

 

[TheBigD]

I think the one most likely to react would be AIB. Other banks don't seem willing to offer as low rates as AIB or BOI. Some (Halifix for certain) have increased rates in the face of falling ECB rates.

 

[Robin Banks]

Ah I'm sure they'll all jump in.

It's not like banks exist to make money for their shareholders anymore.

They've all become government semi state bodies whose sole aim is to prop up the property market which destroyed them.

 

[NorfBank]

It's not really a great offer to be honest.
I'd prefer to take my chances on a variable at the same rate 2.65%.

The best way for a bank to get market share for first time buyers will be to relax their lending criteria not through reduced interest rates. It's all well and good offering a low rate but if you are stressing the repayments at 6%, not many first time buyers will qualify for the rate.

 

[TheBigD]

I'd be in the other camp, thinking that interests rates will soon rise so fixing in as long as possible now on low rates will be advantageous.

 

[NorfBank]

It's the age old advice, only fix if you need to, don't try and time the market.

 

[Robin Banks]

The best way for a bank to get market share for first time buyers will be to relax their lending criteria

Anglo Irish Bank to the rescue !

Now there's a fine example of a bank with relaxed lending criteria.

 

[NorfBank]

Anglo only lend to first time buyers of development land though so still restricted.

 

[Brendan Burgess]

Folks

If someone makes an off-topic reply, humorous or not, please ignore it. I have had to delete 4 posts which were dragging the tread off topic.

Brendan