Bank of Ireland cuts all fixed mortgage rates by 0.5%

The ECB has cut rates by a cumulative 0.75% since June with a further reduction of 0.25% forecasted at the Governing Council's next meeting

The lender is also introducing a new 1-year fixed-rate product with rates starting at 3.3% for mortgages of €250,000 and over, which will be available from November 26. Picture Colin Keegan, Collins Dublin

Bank of Ireland is cutting its fixed mortgage rates by 0.5% for new and existing customers and for all homes with a Building Energy Rating from A to G. 

The reduction means that a 4-year fixed rate is available from 3.1% depending on a home's energy rating, representing an annual saving of €1,000 on a €300,000 mortgage when compared to the previous 4-year fixed rates. The cut takes effect from today.