Construction News

16/06/2015

Minister Kelly Welcomes Cut To Variable Mortgage Rate

The 0.20% cut to the variable mortgage rate has been welcomed by the Minister for the Environment and Local Government.

Mr Alan Kelly said he was pleased with the decision by the Board of the Housing Finance Agency (HFA) and confirmed it is being passed on in full to local authority borrowers.

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Minister Kelly said: "The reduction will have real meaning for 13,700 households with a local authority variable mortgage. The saving amounts to €17 per month on a typical mortgage of €100,000."

(CD/MH)

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