BoI cuts fixed-rate mortgages

BANK of Ireland has cut interest rates for fixed-rate mortgage customers.

The 20-year fixed rate falls 0.5% to 5.1% APR, while the 10-year rate drops 0.46% to 4.4% APR.

Customers can fix for five years at a rate of 3.8% APR and four years at 3.7% APR. The one-year fixed rate is unchanged.

Mortgage marketing manager Olive Moran said: “We believe this provides customers with a limited window of opportunity to lock-in at historically low rates.”

Ms Moran added that the bank was the only lender in the Irish market offering a 20-year fixed rate.