ICS has announced a series of substantial rate cuts across our PDH fixed and variable rates( Private Dwelling House) – effective 09 August 2021, that will allow ICS Mortgages customers to avail of the lowest rates in the market.
All variable, 3 year and 5 year fixed rates for first time buyers, movers and switchers have been lowered. Fixed rates will be the most competitive in the market; 3 and 5 year fixed rates starting at 1.95%. Variable rates now start at 2.45% (APRC 2.53%) which is the lowest variable rate on the Irish market.
By cutting both fixed and variable rates, ICS now offer more choice to a wider range of mortgage customers in line with their overall strategy to offer customers low rates, low APRCs and on-going flexibility to suit individuals changing needs. These new rates offer sustained, long-term value for consumers – as evidenced by the lowest APRC rates on the market and are available across the entire country.
Updated ICS Mortgage rates table
Annual Percentage Rate of Charge (APRC) figures are calculated based on a mortgage of €100,000 over a 240 month term, and assume the customer pays a valuation fee of €185 and
Overpay Facility & Mortgage Breaks
ICS continue to offer the best in market overpayment facility, allowing customers to pay 20% off the loan amount in any 12 month period without prepayment penalty when on a fixed rate.
Customers can also apply for a 3-month break from their mortgage up to 3 times throughout their mortgage term. This allows them some breathing space during life events such as the birth of a child, medical or educational expenses. The mortgage must be drawn down for at least 12 months before applying for a mortgage break.
Public Sector Specialists
ICS has a long history of catering to the borrowing needs of the public sector and these reduced rates will also apply to public sector workers.
In conjunction with lower rates, public sector workers enjoy better value by:
- taking basic pay as two points up the salary scale
- accepting Overtime & Allowances
This announcement highlights ICS ambition to offer greater savings for homebuyers and mortgage switchers through best-in-market rates that offer customers more choice and long-term value.
Whether you are a first time buyer, moving home, looking to switch lender , investing in a buy-to-let property or should you have any questions on the issues raised in this article, why not chat to a Seaspray mortgage adviser today about finding the mortgage that’s right for you:
Seaspray Financial Services Ltd trading as Seaspray Private and Seaspray Mortgages is regulated by the Central Bank of Ireland with registered number C165527