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Examiner1

Deal of the Week

For this week’s Deal of the Week we turn to comparison site bonkers.ie to see what the best mortgage offering on the market right now - Grainne McGuinness

We took the example of first-time buyers looking for a home loan of €300,000. Our example used 80% loan to the value (LTV) – so borrowing €240,000 with a €60,000 deposit. We look for a variable rate loan over 25 years.

Bonkers.ie is an Irish website and compares prices from all the main players in the market, including AIB, Bank of Ireland, EBS, Haven, ICS, KBC Bank, Mortgage Store, Permanent TSB and Ulster Bank.

Ironically, given the headlines in the past week, the top suggestion from the site for the example above was the offer from Permanent TSB.

They offer a LTV discounted variable managed variable rate of 3.5% - working out at a monthly repayment of €1,201.50. It is important to note that this is a discounted rate, so after the first 12 months, the rate will mature to the managed variable rate. This is currently 4%, which is still a competitive rate.

The product is available to first-time buyers and those trading up and is offered to both new and existing customers of the bank. It is available on home loans with a LTV of greater than 70% or less than or equal to 80% of the value of the property and the maximum terms offered is 35 years. In addition, subject to conditions, they offer up to €1000 towards your legal fees.

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