Interest rate cut by 0.5%

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mrswildrogue Posts: 1739
Interest rates have been cut by 0.5% by US EU and US banks. When and if will Irish banks pass this on and when will we be affected for mortgages?
funkyfish Posts: 7626
the feckers always put the up asap and take ages to bring them down
porshe Posts: 1359
Oh god I really hope we get it, what kind of money diff woudl that make?
mrswildrogue Posts: 1739
well i was reading for a £150,000 it would be £47 a month difference. So depending on your amount of mortgage.
boohoo Posts: 39
€250,000 variable mortgage will be cut by €105.00...if and when the banks pass it on!
snuggler Posts: 1296
anyone tell me? we on capped tracker and not sure int rate, i not at home but have letter here from last year stating our revised int is 4.99% (typ apr 5.10%) anyone know if we benefit? sorry sound syupid, just not at home where info is!
SingleNoMore Posts: 146
If you're on a tracker it def benefits you because a tracker is ECB + a % say ECB + .8% would have been (before decrease) = 5.05% this will now reduce to 4.55%. The only people not benefiting are the fixed rates! The banks have to pass it on within a certain time frame or the government are applying penalties
montagne Posts: 1849
That is one creepy picture porshe!
porshe Posts: 1359
[quote:gd3gxe4i]That is one creepy picture porshe![/quote:gd3gxe4i] Sorry yeah I know I wish there was a way i could only use it in P&B dont mean to offend :-8