Majority of new mortgage customers now opting for fixed rate mortgages

Following on from interest rate reductions to a range of fixed interest rates in May 2017, KBC Bank Ireland today announced a new market-leading 10-year fixed mortgage offering to provide even greater value and certainty for customers over the long term.  From 2nd October 2017, customers with an LTV <60% can fix the interest rate on their mortgage for as low as 2.95% for ten years while customers with an LTV <80% can avail of a rate of 2.99%.  This comes as KBC confirmed that 70% of all customers drawing down a mortgage in the last three months opted for a fixed rate.

The new rates are available to both existing and new mortgage customers of KBC, whether they are currently on a variable rate or arrive at the end of an existing fixed term rate. The rates are inclusive of a 0.20% mortgage discount rate for customers holding a current account with KBC (and mandating their salary to that account).
KBC also has some of the best variable rates for new mortgage customers in the market, including 3.10% for customers with a maximum LTV of 80% and a one-year fixed rate of 2.90% for new and existing customers.

Darragh Lennon, KBC Bank Ireland Director of Products said “As Ireland’s leading challenger bank, our strategy is consistently about providing customers with long term value on their mortgage.  We are seeing strong demand from customers who want to fix their mortgage repayments and this has increased significantly this year. With the introduction of these new market leading 10 year fixed interest rates customers can get certainty about their mortgage repayments over the long term at a rate that is as low as many short term fixed rates.  Our team is ready to talk to customers about their mortgage or any of their financial needs on a 24/7 basis and are confident this new product offering will appeal to a broad range of mortgage customers”.

Any customers making the switch to KBC to save on their mortgage repayments will benefit from a €3,000 contribution towards their costs of switching their mortgage. The contribution is open to any customer who drawdown their mortgage by 31st December 2017.

KBC is also extending its 50% off KBC Home Insurance offer in year one on all new KBC residential mortgages for first time buyersswitchers and movers until 31st December 2017.

In 2017 KBC has been independently recognised as offering the best value in the market by winning the Best Value First-Time Buyer Mortgage, Best Value Switcher Mortgage and Best Value Current Account at the inaugural bonkers.ie Awards.

For further information on KBC’s mortgage offers see www.kbc.ie, call 1800 51 52 53 or visit any of KBC’s 15 hubs around the country.