Mortgage holders are in line for further savings this week as it is widely expected that the European Central Bank rate will be cut to 1%.

If this rate does come into effect the average mortgage is expected to drop by €80 per month. It will be interesting to see if all mortgage lenders will pass on the full amount to their customer. At the start of this month First Active and Ulster Bank pass on only 0.25% of the 0.5% drop. If this happens again, we advise shopping around and remortgage with a different lender.

Tags: mortgage, Mortgage Rates

This entry was posted on Wednesday, April 1st, 2009 at 12:24 am and is filed under Mortgage Loans General Market News, Mortgage Rates & Guides. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.