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Marty Magennis

Marty Magennis

Fixed, tracker or variable: What should borrowers do?

Anyone with a variable rate mortgage should switch to a fixed rate immediately….

The report below takes extracts from an article published by The Irish Times( 31st October 2022) by Brendan Burgess, founder of askaboutmoney.com.

The ECB says it will continue to increase interest rates until inflation is tamed

 

Whether you are  looking to switch lender currently, a first time buyer or  moving home, should you have any concerns about the issues raised in this article,  or investing in a buy-to-let property, why not chat to a Seaspray Mortgage adviser today about finding the mortgage that’s right for you:

tel.+353 83 099 0442     or email     john.finnamore@seasprayfs.ie

EON

Seaspray Financial Services Ltd trading as Seaspray Mortgages is regulated by the Central Bank of Ireland with registered number C165527

References

Burgess, B. (2022) ‘Fixed, tracker or variable: What should borrowers do?’, Irish Times, 31 October. Available at : https://www.irishtimes.com/business/2022/10/31/all-you-need-to-know-about-mortgage-options-as-interest-rates-continue-rising/ . (Accessed 31 October 2022).

 

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Seaspray Financial Services Ltd trading as Seaspray Mortgages is regulated by the Central Bank of Ireland.

Warning – If you do not keep up your repayments you may lose your home.
Warning – You may have to pay charges if you pay off a fixed-rate loan early
Warning – If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future
Warning – The interest rate on your loan may be adjusted by the lender from time to time. The cost of your monthly repayments may increase as a result.
Warning – If you have an interest-only mortgage the entire amount that you have borrowed will still be outstanding at the end of the interest-only period.

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