MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
  • Mortgages
  • Property Report
MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
    • Mortgage Learning Center
    • Calculators
    • Best Mortgage Table
  • Property Report
    • All Properties
    • Houses For Sale
    • Apartments For Sale
    • Available To View
    • Overseas Holiday Homes
      • Properties For Auction
      • Upcoming Auctions
      • BER Assessors
      • Property Conveyancing Solicitors
      • Pre-Purchase Surveyors
    • Find Agents
    • All Properties
    • Houses To Rent
    • Apartments To Rent
    • Available To View
    • Share
      • Irish Holiday Homes
      • Overseas Holiday Homes
  • New Homes
    • For Sale
    • To Rent
    • Auction
      • Residential Land
      • Commercial Land
      • Farm Land
      • Farms
      • Sites
    • MyHome Living
    • Buyer Advice Hub
    • Property Report
    • Property Price Register
    • Price Changes
  • Mortgages
    • Rental
    • Holiday Homes
    • Commercial
    • Sharing
Advertisement
  • Home
  • Uncategorized
  • AIB rate cut could lead to other lenders following suit
Uncategorized
Oct 31, 2014 - 11:40

AIB rate cut could lead to other lenders following suit

The MyHome Newsdesk
By The MyHome Newsdesk
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share
AIB rate cut could lead to other lenders following suit


Mortgage holders finally got some long overdue reprieve from lenders yesterday when AIB, EBS and Haven announced they were reducing their fixed and variable mortgage rates for new and existing customers.
The announcement was something of a landmark as it was the first time that any lender in Ireland has reduced rates in a number of years, despite the fact that the ECB rate is a record low of 0.05%.
While tracker mortgage holders have benefitted from the plethora of rate cuts experienced in recent years, fixed and variable rate customers have seen their rates remain largely unchanged and, in some cases, even seen them increase.
Now though 146,000 existing mortgage account holders are set to benefit from the announcement, with savings of around €334 per annum estimated for those with a mortgage of €200,000.
The 0.25% cut will now hopefully put pressure on other lenders to follow suit.
With a number of first time buyers also in the market for houses the 3.8% rate for a three year fixed rate mortgage and the 3.9% rate for a five-year fixed-rate mortgage will also be welcomed.
Yesterday Bank of Ireland, Permanent TSB, Ulster Bank and KBC Bank all decided to say if they would be following suit, although at least a handful are expected to do so.
 
  • Do you think it’s time rates were cut for those on fixed and variable rates?

 
 

  • Have people on fixed and variable rates been paying for the mistakes of banks?

 
Have your say below…

Advertisement

Subscribe to our weekly MyHome Living eZine today

Processing your request...

You are subscribed now!

<

  • Tags
  • AIB
  • Bank of Ireland
  • EBS
  • fixed rate
  • fixed-rate mortgage
  • Haven
  • KBC Bank
  • mortgage
  • mortgages
  • Permanent TSB
  • rate cut
  • rates
  • tracker mortgage
  • tracker mortgage holders
  • Ulster Bank
  • variable rate
  • variable rate mortgage
The MyHome Newsdesk
By The MyHome Newsdesk
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share

Helpful Links

Find your home on MyHome
Read more Articles
Calculate what you can afford to borrow
Welcome to the Retrofit Hub
Advertisement
Advertisement

Related News

What is a Heat Pump?
Uncategorized

What is a Heat Pump?

Feb 27, 2025
Living Cities Initiative
Uncategorized

Living Cities Initiative

Jan 14, 2025
Digital Services Act
Uncategorized

Digital Services Act

Mar 31, 2024
Avant Money and Finance Ireland announce new rates
Uncategorized

Avant Money and Finance Ireland announce new rates

Dec 09, 2021
Average deposit of first-time buyer was €52,000 in first half of the year
Uncategorized

Average deposit of first-time buyer was €52,000 in first half of the year

Dec 07, 2021
Frequent And Popular Searches
MyHome.ie Blog
Help
Jobs
About
Equality Guidelines
Brand Safety
Contact
Terms & Conditions
Cookie Policy
Privacy Policy
Digital Services Act
Sitemap
© Copyright MyHome.ie 2025
Advertisement