NIB Variable Rate

Hi all,

Does anyone know if NIB are to drop their std variable rate? It's currently 4.15% which is 2.15% above ECB. Got rate from here http://www.*****************.com/mortgages/standard-variable-rates

Thanks.

Even though that site's been updated recently, the new variable rates aren't available yet. I don't think they'll be displayed until they're applied to current mortgages, and then they'll be available to everyone.

This is all just a guess by me though. I do know though that AIB's new reduced rate is gonna be 3.25% though, which would tie in with that site showing 3.75% (pre ECB cut).

buyingabroad said:

Hi all,

Does anyone know if NIB are to drop their std variable rate?

Click to expand...

They have said they will pass on the recent ECB cut to variable customers, see here,

http://www.rte.ie/business/2009/0115/ecb.html

October’s cut was passed on after 14 days, November’s after 19 days and December’s after 33 days.

It’s entirely at their discretion, if they do pass it on the standard variable will be 3.65%.