AIB raises cost of fixed-rate and buy-to-let mortgages

HOMEOWNERS are to be hit again by rising mortgage costs as AIB raises its fixed-rate offering.

The bank is following other lenders by hiking the cost of mortgages for customers, many of whom are struggling to repay.

From today, AIB is increasing its one-year fixed rate for owner-occupiers rises to 4.15% from 3.59%, while its five-year rate will increase to 5.35% from 4.39%. It blamed the rising costs of fixed-rate mortgage financing for the hikes.