Major lender Finance Ireland suspends long-term mortgages as interest rates climb

Finance Ireland said it plans for the move to be temporary

An estate agents in Dublin. Picture:

Finance Ireland, Ireland’s biggest non-bank lender, is suspending any mortgage products which fixes rates for 10 years or longer.

The company previously allowed mortgage holders to fix mortgage rates for up to 25 years. The longest a customer will now be able to fix their rate is for seven years.

The change will apply to all new customers. Applicants for long-term fixed rate products who have already received an offer will be able to proceed ...