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Finance Ireland suspends longer term mortgage products

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Non-bank lender Finance Ireland has announced that it is temporarily suspending the offer of fixed rate mortgage products of periods of 10 years or more to new applicants.

However, it said it plans to reopen applications for such products"in due course when more normal markets return".

"Applicants for relevant fixed rate products which have received an offer will be processed as normal but new applications will not be accepted for the time-being," it said.At the time it was the twice the maximum length of any mortgage currently available in the market.At the start of October, Finance Ireland said it was raising its variable and fixed rates by between 1.5% and 2%.

McGovern said there are 30-year term mortgages still available in the United States, despite the fact that rates have increased.

 

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