AIB to cut variable mortgage interest rates

AIB to cut variable mortgage interest rates

AIB is reducing variable mortgage interest rates.

In a statement this afternoon, the group says a reduction of 0.25% percent will take effect from December 1 for new and existing customers.

It affects 146,000 existing mortgage holders with AIB, EBS and Haven.

The banks said customers with a €200,000 mortgage, for example, will save up to €334 per annum, based on a 25-year term.

“AIB is now in a position to reduce variable mortgage interest rates due to the bank’s underlying positive performance and funding cost reductions," said Bernard Byrne, Director of Personal, Business and Corporate Banking.

"The introduction of the Bank’s new fixed rate pricing will provide better value and certainty for customers.’’

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