Boost for homeowners as rates set to drop again

HOMEOWNERS will rack up monthly savings of up to almost €500 since September if interest rates, as expected are slashed to their lowest level ever next week.

The European Central Bank (ECB) is expected to cut rates by 0.5%.

The move would result in savings of €493.03 for standard variable mortgage holders on a e300,000, 30-year home loan since September.