AIB reduce mortgage rates

AIB has announced a reduction in one of its mortgage packages, which is open to new and existing customers.

The bank has reduced the four-year fixed rate for mortgages over €250,000 by 0.35% .

The rate will apply to customers with a minimum mortgage balance of €250,000 and a loan-to-value ratio of more than 80% on B3 rates homes or higher.

Other new rates, effective from October 16, mean those with a LTV lower than 50% will move from 3.4% to 3.1%. Customers with a LTV between 50 and 80% will reduce from 3.5 to 3.2%.

Customers on a new €350,000 four-year fixed-rate mortgage, with an LTV of 50-80% over a 25-year term, can save over €660 a year, under the new terms.

The new rates are available to new customers buying their first home, or borrowers moving home or switching their mortgage to AIB.

Anyone who wishes to change the interest rate on their mortgage, can fill out a Mortgage Amendment Form but early breakage charges for those on fixed rates may apply.