Cian Carolan

We're seeing non-bank lenders in Ireland already moving on rates.

We've had ICS mortgages, I think, have announced three different rate increases this year already.

One or two of them have been fixed rates and variable rate increases.

Look, it depends.

Someone might be borrowing for a five-year cycle and they might have plans to sell their house and retire out.

Someone could be expecting a large inheritance coming their way and they're really motivated to be debt-free.

And so there could be a reason why.

But look, we don't see a huge appetite for variable rates.

And also, depending on the lender, it doesn't have to be one or the other.

Some lenders will allow a split fixed and variable rate position or a dual split fixed rate position.

Oh, how does that work?

So you might split half your mortgage on one rate and half on another.

And it doesn't have to be half and half.

It can be a certain split with like one of the splits will have to be of a certain minimum value.

Right.

But some lenders will allow you to split your rates.

Not every lender allows you to do that.

So if you know that you're going to have a bonus of X amount coming your direction or if you know you've

and an early inheritance or inheritance come in your direction, you say, I want to be able to knock 100 grand off my mortgage in 12 months time.

That could be a really good reason to sit on a variable rate for a portion of your mortgage, that portion that you expect to be able to pay down.