First Active reduces mortgage rates

First Active is to reduce its fixed rate mortgages for new customers from today.

The reductions will apply for one, two and three year fixed rate mortgages.

Brendan O'Hora, head of marketing at First Active, said: "First Active has reduced its fixed rates to reflect the downward shift in longer term euro interest rates.

"These lower rates give customers the opportunity of having certainty in their mortgage repayments for a fixed period without compromising on value for money."

First Active's recent acquisition by Royal Bank of Scotland will see it merged with RBOS's other Irish operation, Ulster Bank.

Cormac McCarthy, former First Active chief executive was appointed chief executive of Ulster Bank, while Michael Torpey was appointed finance director of the new venture.

A new senior executive team was appointed to the operation in early February.