Switch & Save

21/10/2024: The European Central Bank (ECB) has announced a further 0.25% interest rate cut, the third drop this year. The recent drops are thought to be in response to rapidly falling inflation.

The latest decrease in the ECB refinancing rate - the rate tracker mortgages are based on, takes it to 3.40%. This may prompt mortgage lenders to reduce their variable and fixed rate mortgages.

18/10/2024: ICS Mortgages will cut its variable rates by 0.25% from December 1st.

The announcement comes after the European Central Bank cut rates for the third time this year.

The reduced rates will benefit owner-occupier, buy-to-let, and new and existing customers.

14/10/2024: One in eight electricity customers (171,400) and one in four gas customers (169,000) were in arrears on their bills in July.

The figures, released today by the Commission for the Regulation of Utilities (CRU), showed the average arrears on electricity bills is €435, with gas customers owing an average of €210.

The CRU said the number of domestic electricity customers in arrears has continued to rise since the final payment of the Government’s Electricity Credit Scheme was applied to customers’ accounts in March.

The number of gas customers in arrears reached record highs (25%) in March, May and June 2024, dipping slightly to 24% in July.

The figures also revealed that 171 electricity customers and 207 gas customers were disconnected for non-payment of bills in April.

01/10/2024: The Government has announced a raft of measures to help households with their energy costs this winter.

All households will receive an energy credit worth €125 by the end of the year and another payment of €125 at the start of 2025. In addition, those on qualifying benefits and those over 70 in receipt of fuel allowance could be eligible for an extra €300 lump sum.

In other budget measures, the lower rate of 9% VAT on energy bills is set to stay for another 6 months.

03/10/2024: A raft of measures to support struggling homeowners and renters has been announced as part of Budget 2025.

In this year’s Budget, it was announced that the mortgage interest tax credit (MITC) scheme has been extended for another year. This means that mortgage holders could benefit from a tax break worth up to €1,250 on their interest payments.

The Rent Tax Credit, introduced in 2022, has been increased from €750 to €1,000 or €2,000 for a couple renting.

The Help to Buy scheme for first-time buyers due to end in 2025 has now been extended until the end of 2029.

30/09/2024: AIB has announced a 0.25% reduction to its Green fixed mortgage rate and four year fixed rate for mortgages for all mortgages over €250,000.

The five year Green fixed rate mortgage is available from 3.20% and available to homebuyers with a BER rating between A1 and B3. The four year fixed rate for mortgages of €250,000 and over, now starts at 3.70%.

The new rates are available to new and existing customers from 27 September 2024.

30/09/2024: Yuno Energy is entering the gas market and will now offer dual fuel deals to complement its electricity offering.

The new tariffs available are the Dual Fuel Fixed, 12 month plan with gas at 8.23c per kWh (inc VAT) and electricity at 23.96c per kWh (inc VAT). Smart meter customers can opt for Dual Fuel Smart 12 month plan to make savings on overnight use.

10/09/2024: Sky has announced the launch of Sky Mobile in Ireland.

The telecoms giant will offer SIM-only plans and mobile phone + SIM plan deals. Some SIM-only contracts will come with a Price for Life guarantee.

New devices and SIMs will be offered on separate contracts with new phones available on 24 and 36 month 0% credit agreements.

Sky Mobile will use the Vodafone network, which has 99% 4G population coverage and 5G across 26 counties in Ireland.