EBS has announced that it will reduce its three- and five-year fixed-rate mortgages by 0.15% as of Thursday, July 22.
Both mortgage rates will be reduced to 2.75% and will be available to new and existing customers regardless of their loan-to-value (LTV) rate.
New mortgage customers can receive up to 3% cash back, which means they will receive â¬ 3,000 for every â¬ 100,000 of new mortgage drawn.
Based on a 20-year mortgage of â¬ 282,615 at the new rate of 2.75%, including 3% cash back, customers could save up to â¬ 6,500 in the first five years of their mortgage loan by comparing the same mortgage loan to another without repayment. mortgage lender.
Likewise, customers currently at the standard variable rate of 3.70% would save â¬ 150 on their monthly payments if they switched to a 5-year fixed rate of 2.75%. The calculation is based on a mortgage of â¬ 300,000 over 25 years.
Paul Butler, managing director of EBS, said he wanted to make sure he had a âcompetitiveâ offer for first-time mortgage takers or changing mortgages.
âWe are delighted to announce our reduced fixed rate for new and existing customers, representing real savings for customers every month.
âCoupled with our competitive 3% repayment offer, which new clients can take advantage of, this is our lowest three- and five-year fixed rate on record and represents real value for mortgage customers looking to buy. ‘fixed rate certainty,’ he said.
The new EBS fixed rate changes come into effect this Thursday for all new and existing EBS customers.
The up to 3% cash back offer is available to customers taking out fixed or variable rate mortgages on private residential homes, including first-time buyers, customers moving into a new home, and homeowners. clients who wish to switch their mortgage to EBS.
Customers must draw the mortgage loan by December 31st.