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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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Memorial plaque unveiled at Fitzgerald Stadium for Timmy Keogh

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A special commemoration took place at Fitzgerald Stadium to mark the 50th anniversary of the sudden passing of former Dr Crokes player, officer, and selector Tim (Timmy) Keogh.

All-Ireland winning Kerry and Dr Crokes manager Pat O’Shea unveiled a memorial plaque in honour of Mr Keogh, who died suddenly at the stadium on 24 May 1976 while watching the East Kerry Under-12 final between Dr Crokes and Legion.

Pat O’Shea, who played in that fixture as a nine-year-old, delivered a moving address reflecting on the tragedy and his memories of Killarney half a century ago. He described Mr Keogh as a dedicated family and community man who led the way for the Dr Crokes club.

O’Shea recalled how the match was halted and the young players were brought into the dressing rooms, leaving an indelible mark on the town. He also paid tribute to Mr Keogh’s late wife, Kathleen, and noted the bittersweet memory of neighbours and Legion icons Weeshie Fogarty and Johnny Culloty rushing to his aid on the sideline.

Speaking on behalf of the family, Eamonn Keogh detailed his father’s extensive contribution to the black and amber. Timmy Keogh served as club treasurer through the 1950s and 1960s alongside Donie Sheahan and Michael O’Connor, and was a selector for the famous Dr Crokes senior team that won seven consecutive O’Donoghue Cups between 1956 and 1962.

Eamonn thanked Fitzgerald Stadium Chairman Der Brosnan and his committee for permission to erect the monument. He welcomed members of the Keogh, Fogarty, Culloty, and Randles families, alongside several players from the 1976 under-12 panel and MC Denis Coleman.

Eamonn paid tribute to Pat O’Shea’s legendary status in the GAA, noting he remains one of only five managers to win both an All-Ireland senior inter-county championship and a senior club title.

Fr Tom Looney spoke of receiving the tragic news via a letter from his mother while serving in Peru 50 years ago, praising Mr Keogh’s legacy with Dr Crokes and local employer Hilliards. Fr Tom performed a blessing alongside Franciscan Friary Guardian Br Pat Lynch and Fr Billy Hoyne.

The commemoration concluded with a musical performance of ‘Buachaill ón Éirne’ and ‘The Parting Glass’ by Timmy’s son, Don Keogh, on concertina, and his cousin, Máire Breathnach, on guitar.

The large attendance included Mayor of Killarney Martin Grady, Kerry GAA Chairman Patrick O’Sullivan, East Kerry Board officials Dermot O’Connor and Noel Kennedy, Dr Crokes President Jackie Looney, Chairman Eoin Brosnan, and Juvenile Chairman David Byrne.

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Young entrepreneurs spot match-day business opportunity

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Two young local girls showed great business initiative on Saturday ahead of the Kerry v Donegal match at Fitzgerald Stadium.

Erin McSweeney and Jessie Doolin set up a sweet stall outside a house on Lewis Road, catching the thousands of football fans walking towards the grounds.

The enterprising pair did a busy trade selling soft drinks, sweets, and chocolates to the passing crowds before throw-in.

Their match-day venture also caught the attention of the national sports media, with a photograph of the girls at their stall captured by Sportsfile photographer Stephen McCarthy ahead of the game.

23 May 2026; Local vendors Erin McSweeney and Jessie Doolin, right, before the GAA Football All-Ireland Senior Championship Round 1 match between Kerry and Donegal at Fitzgerald Stadium in Killarney, Kerry. Photo by Stephen McCarthy/Sportsfile

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