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Dublin: 12 °C Wednesday 3 June, 2020

AIB joins rival bank in cutting three and five year fixed mortgage rates

Last week, KBC dropped its fixed mortgage rates from 2.85% to 2.55%.

Image: Shutterstock/Wozzie

AIB IS CUTTING its three and five year fixed mortgage rates, a week after rival bank KBC announced it would be cutting its fixed rates from next month. 

The country’s largest mortgage provider AIB has said it is cutting its three and five year fixed mortgage rates from 2.85% to 2.55%.

The bank is also reducing its “green” fixed rate from 2.5% to 2.45%. 

Last week, KBC dropped its three and five-year fixed mortgage rates of between 0.2% and 0.3% from 1 March this year.

In January, Ulster Bank introduced Ireland’s lowest fixed mortgage rate of 2.2%.

AIB said it will also be establishing a mortgage app to allow customers to upload documents and manage their mortgage online after it has been approved. 

Head of homes and consumer at AIB, Tom Kinsella, said the online applications will make the process “easier and more transparent”. 

AIB CEO, Colin Hunt, said the “highly competitive” rates offer value and choice.  

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