Bank of Ireland trims mortgage rates
Bank of Ireland is introducing a new one-year fixed mortgage rate of 3.30% (4.80% APR) specifically for first time buyers.
Bank of Ireland also said it is decreasing rates for two, three and five-year fixed mortgage rates. The rates are falling between 0.66% and 0.8%.
All new rate changes come into effect on December 5.
ICS Building Society, part of the Bank of Ireland group, also announced today that it is cutting its fixed mortgage rates.
The Bank of Ireland announcement comes just before tomorrow’s central bank decisions, when the European Central Bank and the Bank of England are both widely expected to slash interest rates.
After the previous European Central Bank rate cuts, customers holding tracker and variable rate mortgages were given cheaper rates, but banks have not been as quick to cut fixed rates in line with the Central Bank.
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Tags: Mortgage Rates