Keane Finance Brokers

Why a fixed rate mortgage won’t suit everyone    As the Financial Regulator predicts a rise in mortgage rates, many homeowners are rushing to switch to a fixed rate. But this may not make the best economic sense, writes Charlie Weston THOUSANDS of homeowners are desperately trying to lock in to fixed-rate mortgages as home-loan rates have started to surge in the past few months. So far Permanent TSB, AIB, Bank of Ireland/ICS, EBS/Haven and KBC Homeloans have increased their standard variable for new and existing customers, with most of these lenders also hiking fixed rates. Financial regulator Matthew Elderfield warned last week that more crippling mortgage rate rises are on the way for hard-pressed mortgage holders. The regulator told an Oireachtas committee higher mortgage rates were an “unfortunate but inevitable consequence” of the banking crisis. But is it … Read entire article »