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Put some Euro back in your pocket for a change

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By Ted Healy of DNG TED HEALY

So it looks as though mortgage rates in Ireland have hit rock bottom with inevitable rate increases in the post.

Some 200,000 homeowners are on Standard Variable Rates and are set to pay more with rates across Europe expected to rise in the coming months.

Around 250,000 are on trackers, which rise or fall when the ECB rate changes. An increase of about 25 basis points (one quarter percent) is expected. This means that monthly repayments would increase by about €40 on a €300,000 mortgage.

The European Central Bank (ECB) president Christine Lagarde recently refused to rule out an ECB rate rise – a move that would see tracker and variable rates rise, and new fixed rates become more expensive.

The Dutch Central Bank president and a member of the ECB’s governing council, Klaas Knot, said he expects the ECB to raise interest rates in the fourth quarter of this year. He expects an interest rate rise of 0.25% between October and year’s end.

So does this mean now is the time to lock into a longer-term fixed rate? There are some very attractive fixed rate terms available in the market at present, which in five year's time will very likely look like great value.

NOT ALL BAD NEWS

It is not all bad news however. Surging house prices over the last two years mean that thousands of homeowners are now unexpectedly eligible for lower mortgage rates.

With the sudden rise in property values in recent times, there are now opportunities for anyone coming out of a fixed term period to take advantage of lower loan-to-value mortgage rates which could make significant savings over the life of the mortgage.

Mortgage interest rates get a lot more competitive at 80% loan-to-value as banks tier their rates based on this calculation.

With double-digit property inflation in the past few years, coupled with some of the loan having been paid off, anyone who took out a mortgage in 2019 or 2020 with an original loan-to-value of 90% should be at 80% loan-to-value now.

A loan-to-value of 80% means a homeowner has built up equity of 20% in their home and can now benefit from a more competitive rate.

There are still over 200,000 Irish households repaying their mortgage on Standard Variable Rates of up to 4.5%. The average new mortgage rate in Ireland at the end of last year was 2.79%. However, in 2019 the average rate was just over 3%.

There are certainly savings to be had by switching mortgages – especially for those coming out of a fixed term where their loan-to-value ratio has decreased over the past few years.

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KWD Recycling shortlisted for national environmental awards

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KWD Recycling shortlisted for national environmental awards


Killarney-based KWD Recycling has been announced as a finalist in the 2026 Repak Resource Awards, securing a spot on the national shortlist for environmental achievement.


The local waste management company has been nominated in the Best Recovery Operator Innovation category, sponsored by DNV, for its state-of-the-art residual waste recovery system.
The Killarney facility utilizes optical sorting, screening, and mechanical processing to extract recyclable plastics and organic material from municipal waste. In its first year of operation, the technology recovered more than 10 per cent of plastic packaging from residual waste for recycling and diverted almost 50 per cent of organic material toward composting.
KWD Recycling will compete alongside Dublin operators Panda and Thorntons Recycling for the category title.
Repak CEO Zoe Kavanagh commended the Kerry firm for demonstrating environmental leadership and bringing local ambition to the national awards.
Category winners will be announced at a black-tie ceremony at the Mansion House in Dublin on Friday, October 23, where each winner will also compete for the Overall Repak Resource Award.
Local businesses have a strong track record at the national event, with Killarney town venue The Killarney Park and The Ross previously taking home the overall title in 2023.

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Drivers warned as deer rutting season begins

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Drivers warned as deer rutting season begins


Motorists in Killarney are being urged to exercise extreme caution as the annual deer rutting season gets underway, causing animals to stray far beyond their usual habitats inside Killarney National Park.


The autumn mating season sees deer becoming highly active and unpredictable, leading to increased sightings and collisions on local roads outside traditional park boundaries.
Two separate incidents highlighted the growing hazard on local routes this week. A reader contacted the Killarney Advertiser to warn drivers after spotting a deer roaming near Tiernaboul towards the school on Sunday afternoon around 7.30pm.
Later that same night, in the early hours of Monday morning, a local driver collided with a deer near Kerry Airport around 1am while returning home from an event.
Despite attempting evasive action, the motorist struck the animal, which died at the scene and temporarily blocked the road before local Gardaí were alerted to clear the obstruction.
The driver sustained substantial vehicle damage, requiring repairs to the bumper, headlamp, and internal components, leaving her facing significant garage costs and time off the road.
Gardaí and road safety advocates advise motorists travelLing during early morning and late evening and remain vigilant along tree-lined routes.

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