Thanks to the ECB, the tracker rates will go down

For the first time since the creation of the euro, The European Central Bank (ECB) has this week reduced its key interest rate from 1% to 0.75%.

The ECB’s president declared the Eurozone was likely to show little or no growth in the second quarter of the year.

Two of our French bank partners were offering, up to now, a variable rate of 2.80% with 80% Loan to value, which was very competitive and interesting on the current market.

The cut of the Eurozone rate, which has been recorded the lowest of the Eurozone story, will provide a relative and logical reduction of all variable rates because the Euribors will decrease shortly. We expect to see tracker rates as low as 2.60% within a month.

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