AN POST MORTGAGES | DUBLIN CORK LIMERICK GALWAY
COMMENCING EARLY 2019
An Post has announced plans to provide mortgages at cheaper rates than are available in the current market.
These new mortgages packages will be made available to both new customers and, also allow existing borrowers to switchers seeking a move from their existing mortgage provider to cut their monthly payments.
Latest Central Bank figures show that the average interest rate on new mortgages issued in July was 3.21pc - among the highest in the eurozone where the average is just 1.77pc
Details recently published in the Sunday Independent newspaper reveal that the board of An Post has approved a new financial services strategy which would see the semi-state offering mortgages with a joint venture partner early in 2019.
An Post has set itself the ambitious target of undercutting existing rates by 1%. This would mean that a reduction € 55 a month for each € 100,000 borrowed. During the 30 years of an average mortgage of € 250,000, this would save borrowers € 47,000.