Mortgages

It seems likely that rates will have to come down again at one point to breathe some life into the property market.
More of our clients are taking two-year fixes and trackers rather than five-year deals because they expect the cost of borrowing to reduce over the next year or so. It was not long ago virtually everyone was taking a longer term deal to hedge against the constant rate hikes.
For the moment borrowers will have to take five-year fixes if they want the cheapest rates. If they take a two-year fix or tracker they will probably end up paying more, although they will have more freedom to swap deals if rates do come down.
Bank of Ireland, Nationwide and Barclays have increased their rates over the last few days showing that mortgage pricing will continue to fluctuate until we get more stability in the market.