With effect from 31st August, Haven Mortgages, the broker wing of EBS, has increased its mortgage rates again. The given reason is that Irish banks are having to pay more to borrow on the international money markets. Of course the banks also need to subsidise the losses they are making on existing customer tracker mortgages.
Standard variable – 3.45% (was 3.35%)
2 year fixed – 3.80% (was 3.64%)
3 year fixed – 3.99% (was 3.64%)
4 year fixed – 4.18% (was 3.99%)
5 year fixed – 4.50% (was 4.25%)
The new 5 year fixed rate represents much better value than several of Haven’s competitors.