Bank of Ireland rate increase lower than expected
Bank of Ireland have increased their new business fixed rates by .25%. Existing customer rates have not changed, which is good news.
In an uncertain interest rate environment we believe that there is still some good value products available from our lenders, both in the short term and medium term area.
Prior to the financial crash back in 2008 the typical 5 year lending rate was around 5%. We are still along way off this, although we expect rates to rise further over the coming year.
Our preference in a rising interest rate environment are the current 5 to 7 year rates which we believe offer reasonable value and they give certainty over a reasonably long period.