AIB announces 0.25% reduction in four-year fixed mortgage rate | BreakingNews.ie

AIB is reducing its four-year fixed mortgage rate for customers borrowing €250,000 or more by 0.25 per cent from July 3rd.

The new rate is also available to existing AIB mortgage customers with a balance of at least €250,000. Switcher customers who meet the criteria and wish to avail of the fixed rate will also benefit from a €3,000 switcher cash offer.

At a time when the average house price in Ireland is €335,000, according to the Central Statistics Office, AIB said “the four-year fixed mortgage rate has proved popular with customers seeking the security of a fixed rate when borrowing at least €250,000”.

The new reduced mortgage rates are as follows:

Loan To Value (LTV)           New Rate               Existing Rate

50% –

80%                                          4.30%                          4.55%

These reductions follow a number of cuts to green mortgage rates by AIB Group in April 2024.

A monthly repayment on a new €300,000 AIB four-year fixed rate mortgage, available for mortgages of €250,000 or more with a loan to value of 50-80 per cent over a 25-year term will be €1,598.32. The previous monthly repayment would have been €1,639.97.