Banks to pass on ECB rate cut
Bank of Ireland, ICS Building Society and Permanent tsb have confirmed they will pass on the full ECB rate decrease of 0.5% to standard variable rate (SVR) and tracker rate mortgage customers.
Director of consumer banking at Bank of Ireland Brendan Nevin said: "The decision by the European Central Bank to reduce its rate from 3.75% to 3.25% is a welcome move.
"This reduction, which we are passing on in fulldemonstrates that Bank of Ireland and ICS Building Society are very much open for mortgage business. Together with our attractive lending criteria, a wide and varied product range and excellent service levels, at Bank of Ireland Group we are committed to providing our customers with the right products, advice and options to buy their home."
