We have received a Mortgage Interest Rate Update from Haven
Following the European Central Bank’s increases in interest rates by 4.00% since July 2022 and in a rising interest rate environment, today we are announcing that we are increasing our Private Dwelling House (PDH) Fixed and Variable Mortgage Interest Rates. The changes are as follows:
- Effective from Friday 30 June 2023, our PDH Fixed Rates will increase by up to 0.65% (ranging from 0.15% to 0.65%). The Haven Green Fixed Rate is not impacted by this change.
- Effective from Tuesday 15 August 2023, our PDH Variable Rates will increase by 0.65%.
New Mortgage Drawdowns – IMPORTANT – Key Dates to remember
- Customers who draw down their new mortgage by close of business 28 July 2023 (4 weeks after implementation date 30 June 2023) will avail of the previous rates.
- To ensure the customer is able to avail of the previous rates all required documentation needs to be submitted for review on or before 20 July 2023.
- Unfortunately, documentation received after 20 July 2023 could mean the loan will not be drawn down by 28 July 2023 and therefore the new rates will apply to those mortgages. It will not be possible to make exceptions to maintain fairness to all customers.
- Loans that drawdown after 28 July 2023 will receive the new rates, no exceptions will apply.
Existing Drawn Down Haven Mortgage Customers
- Existing customers that have submitted (by email to [email protected] or by post) a Home Loan Interest Rate Application Form before 5pm on Thursday, 29 June 2023 will receive the previous fixed rates.
- Any Home Loan Interest Rate Application Forms received after 5pm on Thursday 29 June 2023 will receive the new fixed rates.
Given the current Cheque Issue turnaround timelines please allow 10 working days for the issuing of funds.
The new fixed rates are as follows:
| Term | Current Rate | New Rate (Effective from 30.06.2023) |
| 1 Year Fixed Rate |
4.40% |
4.55% |
| 2 Year Fixed Rate |
4.40% |
4.65% |
| 3 Year Fixed Rate |
4.10% |
4.75% |
| 5 Year Fixed Rate |
4.20% |
4.85% |
| 7 Year Fixed Rate |
4.40% |
5.05% |
| 10 Year Fixed Rate |
4.60% |
5.15% |
| Green 4 Year Fixed |
3.65% |
Not Impacted by this change |
The new variable rates are as follows:
| Haven PDH LTV Variable Rates | Current Rate | New Rates (Effective from 15.08.2023) |
| <=50% LTV |
3.10% |
3.75% |
| >50%<=80% |
3.30% |
3.95% |
| >80% |
3.50% |
4.15% |
| SVR |
3.50% |
4.15% |
We recognise the importance of supporting customers who choose Haven Mortgages and therefore I am delighted to let you know that we are today announcing that we have extended our Haven €5,000 Cashback offering until 31 December 2024. This means Haven will give all eligible customers who drawdown their mortgage before 31 December 2024 €5,000 cashback.
Information on these changes is available on our website, https://www.havenmortgages.ie
If you have any questions, you can contact a Mortgage Advisor on 01 669 1000.
