Raise in interest rates

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This topic contains 3 replies, has 3 voices, and was last updated by Profile photo of Anonymous Anonymous 11 years ago.

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  • #51396
    Profile photo of Anonymous
    Anonymous
    Participant

    I see the ECB has decided to raise the base rate by .25% to 2.25%. Has anybody worked out yet the potential impact on mortgage repayments per 1000 euro borrowed.

    Also, will this have any further impact on the already depressed resale market.

    Regards
    Kevin

  • #60085
    Profile photo of Anonymous
    Anonymous
    Participant

    On a mortgage of €100,000 at an average of 3.5% the 25 point raise will mean an increase of €21 a month. (Assuming a straight increase of 0.25 by the bank)

    Personally I don’t think this will impact all that much, in fact why the ECB bothered at all is a mystery. Still makes the UK look expensive!

  • #60087
    Profile photo of Anonymous
    Anonymous
    Participant

    I was at the bank today and the rate is now 3.75% and due to rise. Although low it will worry some buyers wary about the bad old days of 15% plus rates! (UK of course)

  • #60089
    Profile photo of Anonymous
    Anonymous
    Participant

    Does that mean we can expect a higher rate of interest on our deposit, that the developers have to pay us for non build, when we action our Bank Guarantee or “whatever”?

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