News
Put some Euro back in your pocket for a change

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.
News
Matt Britton Flooring Now Open in Cork
Matt Britton a thriving, local, sustainable, family-run business that has evolved into the ultimate destination for Ireland’s finest hardwood flooring, luxury carpets and bespoke rugs is now open in Cork. […]

Matt Britton a thriving, local, sustainable, family-run business that has evolved into the ultimate destination for Ireland’s finest hardwood flooring, luxury carpets and bespoke rugs is now open in Cork.
Established in 1997 by brothers Matt and Craig, both fitters by trade, Matt Britton has become a popular household name throughout Ireland, a favourite among Ireland’s top interior designers and has been featured in an array of celebrities’ homes, including Peter O’Mahony, Johnny Sexton, Conor Murray, Pippa O’Connor, Vogue Williams, Rosie Connolly, and Suzanne Jackson, among others.
Recent expansion plans included the opening of their fifth showroom, Matt Britton Cork, unveiled by Ireland, Munster and Lions rugby legend Peter O’Mahony.
“We are delighted to have launched our first Munster store as part of our expansion plans across Ireland. We have been overwhelmed with positive feedback from our customers who have previously travelled from Munster to visit us in Dublin and Wicklow and this has encouraged us to open a store closer to home for them. Moreover, we are pleased that the opening of this showroom has allowed us to create 10 new jobs in the local area,” said Managing Director Matt Britton .
Their showrooms are designed to offer customers a luxurious experience and showcase their extraordinary collection of hardwood flooring, opulent carpets, and bespoke rugs tailored to clients’ unique preferences.
News
Quest Killarney named Ireland’s best fitness and wellness event
Quest Adventure Series organised by Kerry based Elite Event Management came out winners at the Gym+Coffee Make Life Richer Awards. Quest won Best Large Fitness and Wellness Event, beating other […]

Quest Adventure Series organised by Kerry based Elite Event Management came out winners at the Gym+Coffee Make Life Richer Awards.
Quest won Best Large Fitness and Wellness Event, beating other well-known names in the fitness and event industry.
Irish gym clothing company Gym+Coffee established the Make Life Richer Awards as community-based awards that celebrate those who ‘Make Life Richer” to include people who have the same passion as they do and facilitate events and meet-ups that bring people together.
“The team at Quest are super-proud of this award and the achievement and would like to thank everyone who voted for them, and enjoys being part of the Quest community.,” said Elite Event Management’s Rebecca Kemp
Entries for Quest Killarney October 7 are now open at www.questadventureseries.com