Last week’s disclosure that Bank of Ireland had withdrawn the only 20-year fixed rate mortgage in the Irish market has been explained as a result of a lack of consumer appetite for long-term fixed rate mortgages.
It turns out that borrowers weren’t exactly queuing up to pay 5.8 per cent APR over 20 years when the standard variable rate mortgage was priced at just 5.4 per cent.
But I’ll bet there would be plenty...
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