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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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Over €2K raised at Killarney premiere of Hind Rajab film

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Killarney for Palestine welcomed over 120 people to The Brehon on Sunday evening for the Kerry premiere of the Oscar-nominated film, The Voice of Hind Rajab.

The event served as a fundraiser and an important experience for the local community, highlighting the story of the five-year-old child killed in Gaza.
The evening raised over €2,000 in donations. These funds will be sent via mutual aid directly to five families in Gaza and to The Hind Rajab Foundation.
The film’s director, Kaouther Ben Hania, recently made headlines at the Berlin International Film Festival by declining the “Most Valuable Film” award at the “Cinema for Peace” gathering. Addressing the audience, she explained her decision to leave the trophy behind as a reminder of the lack of accountability for the deaths of Hind Rajab, her family, and the paramedics sent to save her.
“Peace requires justice and accountability, not glossy slogans,” Ben Hania stated, adding she would only accept such awards when peace is rooted in moral and legal obligations.
Killarney for Palestine holds regular updates on their social media pages and invites the public to join their monthly vigil at the Killarney Courthouse, held at 12 p.m. on the last Sunday of every month.

Over €2K raised at Killarney premiere of Hind Rajab film


Killarney for Palestine welcomed over 120 people to The Brehon on Sunday evening for the Kerry premiere of the Oscar-nominated film, The Voice of Hind Rajab.

The event served as a fundraiser and an important experience for the local community, highlighting the story of the five-year-old child killed in Gaza.
The evening raised over €2,000 in donations. These funds will be sent via mutual aid directly to five families in Gaza and to The Hind Rajab Foundation.
The film’s director, Kaouther Ben Hania, recently made headlines at the Berlin International Film Festival by declining the “Most Valuable Film” award at the “Cinema for Peace” gathering. Addressing the audience, she explained her decision to leave the trophy behind as a reminder of the lack of accountability for the deaths of Hind Rajab, her family, and the paramedics sent to save her.
“Peace requires justice and accountability, not glossy slogans,” Ben Hania stated, adding she would only accept such awards when peace is rooted in moral and legal obligations.
Killarney for Palestine holds regular updates on their social media pages and invites the public to join their monthly vigil at the Killarney Courthouse, held at 12 p.m. on the last Sunday of every month.

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Four years on from the Russian invasion of Ukraine, Killarney resident Natalya Krasnenkova shares her experience

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When I first arrived at Dublin Airport four years ago, I was handed a small slip of paper. It had three words on it that changed my life: Inisfallen Hotel, Killarney

At that moment, I had no idea where Killarney was. I sat in the old terminal with my children, surrounded by other refugees, googling photos of lakes and national parks. I kept wondering how my life had shifted so dramatically, from a career and a settled life in Kyiv to a point on a map I couldn’t even pronounce yet.


Today, Killarney isn’t just a point on a map to me. It’s rather home.


We didn’t choose to be refugees; an aggressor state made that choice for us. We didn’t plan to start from scratch in our 30s, 40s, or 50s. Since we are here, we want to be part of the solution.
We now make up 5% of Killarney, one in every twenty people. We are your coworkers, teammates, and friends. We’ve retrained, we’re learning the language, and our kids are already speaking English and Irish.


I’ve retrained as a community worker, and I even found the courage to run in the local elections because I believe in the democracy you are lucky to have. You are one of the few countries in Europe that gives migrants the right to participate and vote in local elections.


I’ve had the privilege of working with the Killarney Advertiser, who, by the way, were the first in Ireland to publish texts in Ukrainian so that newcomers could understand what matters to this community. It was here that I wrote my first articles in English.


During the last for years I feel Killarney is my second home. I’ve learned the shortcuts to avoid the evening traffic jams.

A LOCAL
I know my neighbours by name, and we’ve made it a tradition together for a drink before Christmas. I’ve picked up that local habit of lifting a finger over the steering wheel to greet a passing driver or a pedestrian.


I feel that same sting of rising prices at the checkout as you do, and I felt that massive surge of local pride when the Kerry GAA team brought The Sam back to the county.


But behind the smiles and the “I’m grand” responses you hear from us at work, in sports clubs, or the streets, there is a heavy reality we carry every day.


For many of us living beside you, there is no home to go back to. Our cities are ruins; our houses are gone. Behind the woman serving your coffee or the man on the construction site is a story of a son, a father, or a brother missing in action or killed. My own parents are in occupied territory. My biggest fear is that if the worst happens, I won’t be able to go to them. I won’t even be able to stand at their funeral.


The relatives of the people you work with may be freezing in their homes right now without heating, electricity, and water at -20 degrees.


My daughter is freezing in Kyiv too. When she has electricity for a few hours a day, and we have a video call, I see her wearing a down jacket and a hat at home. She has been sick with a cold for a month.

NO END IN SIGHT

Let me remind that February 24 we marked four years since the full-scale Russian invasion in Ukraine. That’s about how long it took to fight most of World War II, yet for us, there’s no end in sight.


To put the scale of this into perspective for my friends here in Kerry: Russia currently occupies over 20% of Ukraine. That’s an area 1.3 times the size of the entire island of Ireland. The frontline stretches for 1,200km, four times the distance from Killarney to Dublin.


When we talk about 15,000 civilians killed, we’re talking about the entire population of Killarney being wiped out. When we hear that 3,200 children have been killed or injured, we’re talking about 128 empty primary school classrooms.


Throughout this time, Ukraine has received a lot of help from the world, but it has been enough only to survive, not to win.


We all need a long-lasting, just peace, because this is a war of values, democracy versus tyranny. This war is not only about Ukraine; it is about the future of all of Europe. Ireland cannot remain silent, as the threat of war is already at its borders. Neutrality is not the same as naivety. While Russian submarines regularly violate Ireland’s territorial waters, drones appear in the sky, and Russia wages a hybrid war by fuelling trolls on social media to sow anti-migrant and anti-Ukrainian sentiments, one can no longer afford to be naive.


This war concerns Ireland, Europe, and the whole world. It’s particularly painful to know that Irish-made components from Galway or Waterford have been found in the Russian’s “kamikaze” drones hitting civilians in Ukraine.


EU PRESIDENCY
As Ireland prepares for the Presidency of the Council of the EU in July 2026, you have a voice. Please, ask your TDs and MEPs to keep up the pressure. Demand tougher sanctions, the use of frozen assets to rebuild our homes and the energy system, and real action against the “shadow fleet” that funds this war. Only together can we stop this before it goes further than Ukraine.
Please remember: everything you do for Ukraine, you do for all of Europe and for yourselves. Thank you for standing with us.

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