Mortgage lender Núa rolls out ‘significant' rate cuts, including on equity release loans
mortgage
lender Núa has rolled out what it says are 'significant rate reductions' across its suite of residential mortgage and equity release products, with the cut on some rates coming close to 1 per cent.
The newest mortgage lender in the State only
entered the market late last year
and said that it would offer fixed rates starting at 3.6 per cent for first-time buyer, mover and straight switcher products.
Núa operates through brokers and its rates tend to be higher than some of its competitors, but its chief commercial officer Fergal O'Leary said the new rate offerings would move the company 'a step closer to making home ownership a reality for more individuals and families across Ireland, and to opening up channels for existing mortgage holders to release some of the equity in their homes'.
He said there were 'thousands of customers out there with the financial capacity to afford a mortgage but are currently locked out by outdated lending models' and said the lender's goal 'is to change that'.
READ MORE
While it boasted of offering rate cuts of close to 1 per cent, the reductions on most of its products are considerably more modest. It is offering a three-year fixed rate for people with a loan-to-value (LTV) ratio of 60 per cent of 3.6 per cent, down from 3.85 per cent, while a five-year fixed rate for the same cohort is available at 3.65 per cent, down from 3.75 per cent.
[
Former bonds trader targets gaps in the Irish mortgage market
Opens in new window
]
For those with LTVs of 70 per cent, the three- and five-year rates are 3.9 and 3.95 per cent respectively.
The biggest cuts are being made available to people looking for a loan with equity release of up to €300,000. Rates for those with an LTV of between 60 and 80 cent fall to 4.8 per cent from 5.75 per cent while a homeowner who is mortgage free can get equity of up to €400,000 released at rates of between 4.6 and 5.25 per cent compared with a rate of 5.5 per cent that was previously on the table.
[
Buying a new home in Ireland: How much you need, the current low rates and Government help
Opens in new window
]
Mr O'Leary said that by 'reducing rates and expanding access, we're not just responding to market conditions, we're reshaping the landscape to better reflect the needs of today's borrowers.
'Whether it's a first-time buyer, switching from another lender, or releasing equity, we want to support people on their mortgage journey with a solution that's fair, fast and built around their particular needs and circumstances.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Independent
42 minutes ago
- Irish Independent
Wexford clothing company enjoys a ‘cúpla focail' with presidential candidate Catherine Connolly on Fleadh visit
That was certainly the case with one high-profile exponent of the Irish language, presidential hopeful Catherine Connolly, who dropped in for a browse and a chat with owners and best friends Gillian de Faoite and Nina Shelton. Mothers of autistic children, the Wexford women founded the company with the aim of making sensory-friendly clothing for both children and adults and, naturally, being Gaelgeoirí themselves, the Irish language certainly played a part in their cool and colourful designs. "We've had an incredibly successful Fleadh this year, connecting with people from all over the world who've flocked to our town for this brilliant event,' Gillian said. 'It truly puts Wexford on the map.' Nina and Gillian were particularly delighted to have a lengthy chat with Catherine Connolly (as Gaeilge) about their journey and hopes for the future. "A real highlight was being visited by Catherine Connolly,' Nina said. 'It was such a privilege to meet someone so genuine, who took a personal interest in our story and our brand. She immediately understood what we're trying to achieve and that we're so much more than a children's clothing company. At our core is a commitment to inclusivity, giving everyone a seat at the table.' Ms Connolly was suitably impressed by the award-winning Wexford business owners. "Her passion for the Irish language meant we enjoyed a beautiful, fluent conversation 'as Gaeilge', and we're deeply grateful for the generosity she showed us in both her time and her attention in what was surely a busy day.' A successful Fleadh is just one cause for celebration for Sully & Juno of late, as the business has also been selected by the European Commission as a 'Pioneer of Inclusivity' for 2024/25.
The Irish Sun
4 hours ago
- The Irish Sun
Sinn Fein to decide on candidate for presidential run in WEEKS as Mary Lou McDonald tipped to ‘give up Taoiseach dream'
A top Sinn Fein source said McGuinness' departure has thrown the Aras race wide open PREZ TALKS Sinn Fein to decide on candidate for presidential run in WEEKS as Mary Lou McDonald tipped to 'give up Taoiseach dream' SINN Fein have yet to make a decision on whether to run a candidate in the presidential election or back the Left's nominee Catherine Connolly. The party is carrying out private polling to see if leader Mary Lou McDonald has a serious chance of winning if she runs. 5 Mary Lou McDonald is tipped for the job Credit: Getty Images - Getty 5 A Sinn Fein source said it would be no harm politically supporting Catherine Connolly 5 Sinn Fein's Pearse Doherty could also be a contender Credit: � 2025 PA Media, All Rights Reserved Senior party figures didn't think she could beat former EU Commissioner Mairead McGuinness, who pulled out of the race for health reasons last week. A top Sinn Fein source said McGuinness' departure has thrown the Aras race wide open. The party expects to make a call on their nominee by the end of the month. And if they do decide to run a candidate it has to be one of their top tier people - either Mary Lou, Northern Ireland First Minister Michelle O'Neill or their finance spokesperson Pearse Doherty. The source said: 'There is no point in running anyone except one of our top three people. Otherwise, we are wasting our money and our time. There is a growing view that it would political suicide to look at any other candidate bar them and we expect to make a decision by the end of August. 'My own gut feeling is Mary Lou has a great chance if she runs — but then she is giving up her dream of being Taoiseach. The source added: 'It would do us no harm politically supporting Catherine Connolly, because it would result in most of the left wing parties co-operating behind a political name for the first time ever. 'If we're going to win the next general election and form government with other left wing parties then staying out of the presidential race might not be a bad idea.' 'Sad to see him go' - GAA fans emotional seeing Michael D Higgins attend last men's All-Ireland final as President Fianna Fail have also not decided whether to run their own contender. It is understood Taoiseach Micheal Martin is not too excited about the names being mentioned so far - Bertie Ahern, Mary Hanafin and Maire Geoghan Quinn. Insiders dismissed suggestions that Munster MEP Cynthia Ni Mhurchu could run, saying she is still learning her trade and enjoying her stint in Brussels. Another name being mentioned is former newsreader Senator Alison Comyn. She has made a big impression with the party leadership since arriving in Leinster House via a nomination of Micheal Martin. HUMPHREYS TOPS POLL And Heather Humphreys would lead the presidential race if she announces her candidacy, a new poll has found. The former Fine Gael minister, who has said she would give 'serious consideration' to running, would garner 19 per cent of votes, a snap Sunday Independent/Ireland Thinks study showed yesterday. Ms Humphreys polled at 19 per cent, with Catherine Connolly on 18 per cent and potential candidates Mary Lou McDonald and Bertie Ahern on 14 per cent. However, the research showed there is all to play for as some 28 per cent of voters are still undecided. Ms Humphreys' is also preferred to potential runner Sean Kelly, with voters showing 21 per cent support for her over 17 per cent for Mr Kelly in a Fine Gael list. Ms Humphreys' possible campaign gained traction yesterday as party heavyweight Frances Fitzgerald said she would 'make a fantastic President'. The former minister and MEP added: 'She'll be a strong voice for integrity, vision, and unity in Ireland. If she steps forward, she'll have my full support.' 5 Northern Ireland First Minister Michelle O'Neill Credit: Pacemaker Press
Irish Times
5 hours ago
- Irish Times
The Irish Times view on Ireland's wind energy: a fight for funding
Ireland is making slow but steady progress towards ambitious renewable energy targets, but challenges remain – including a more competitive market for attracting private investment. The latest report from Wind Energy Ireland shows that wind energy supplied 24 per cent of the country's electricity needs last month, the third best performance for July on record. According to the Government's offshore renewable energy targets, the objective is to reach 37 gigawatts of wind energy by 2050, which would be enough to cover by a factor of six the current peak demand for electricity in Ireland. There is a lot riding on reaching these targets. The goal of a secure, cost-effective supply of energy remains some way off. Senior multinational companies have warned that future investment relies on this. Moreover, if Ireland does not meet EU-agreed CO2 reduction targets from 2030 onwards, it could be liable for billions in fines. Some of the challenges are homegrown. For example, according to the latest report from Wind Energy Ireland, roughly 14 per cent of the electricity that could have been generated by wind last year was lost due to limited grid capacity. Also, several important wind energy developments have been delayed by planning logjams. READ MORE The Government has earmarked €3.5billion to upgrade the energy infrastructure and reforms to the planning system have improved timeframes on planning applications for wind developments. It is important that there is continued improvement in both of these areas, as one of the main external challenges is access to funding. Recently, the Danish government had to backstop a $9.4billion rights issue by Orsted, the renewable energy developer, as it needed capital to complete US developments. Donald Trump's 'drill baby drill' approach energy policy has caused many investors to switch from renewables back to fossil fuels. Ireland needs billions in investment to develop its offshore wind potential. An efficient infrastructure and planning system is essential to attract future investment in a competitive marketplace for funding.
