AIB raise interest rates following ECB hikes

AIB hiked its average rate increase of by 0.5% across its fixed and variable rate mortgages, following the European Central Bank's decision to raise interest rates by 3% since last July. 

Its Haven fixed rate mortgage products in the Republic of Ireland will also experience rate hikes.

The new fixed mortgage rates are effective from February 3. Customers who draw down their new mortgage by close of business March 3 can avail of the previous fixed rates.

AIB’s competitive variable mortgage rates will increase by 0.35%. The bank will write to customers who hold variable rate mortgages confirming the new interest rate and effective date of March 14.

Customers with a tracker mortgage linked to the ECB rate will see changes to their interest rate applied in line with their contract following today’s ECB rate increase. We will write to these customers confirming the new interest rate and effective date.