Best Subprime Mortgage Rates
It’s here. The credit crunch is well and truly in full swing in Ireland. There is little we can do about it now. With the main lenders (national banks) imposing tighter and tighter restrictions on their lending criteria, more and more people looking for mortgages are going the subprime route. So what are the best subprime rates in Ireland? Before we go any further, it is important to understand that subprime is not necessarily a curse.
With the aforementioned crunch and restrictions, many buyers, especially first time buyers in Ireland are opting to get a mortgage (easily) at subprime rates and bite the bullet for a up to 5 years. Once they have improved their credit score after this time they simply approach a broker to switch to a “prime” rate mortgage with sometimes a much better rate that can save literally thousands of Euros a year.
Right now, there is not really a best subprime rate in Ireland but in teh coming weeks and months, we will be developing charts and advice on which lender is best should you wish to approach this situation.
Best of look, and remember…research.