AIB announced a reduction in non-green mortgage fixed rates by up to 0.75 percentage points, responding to the European Central Bank's previous rate cuts. These changes take effect on May 13 and apply to new customers and those transitioning from fixed rates. However, the bank's variable rates remain unchanged and are deemed high. AIB is also lowering interest rates on fixed-term deposits. The initiative aims to maintain competitiveness, particularly for buyers of second-hand homes with lower energy ratings, and assist existing customers nearing the end of their fixed terms.
The reductions will also help customers coming to the end of their fixed term, as they roll off historically lower rates into an environment where rates are now higher.
AIB is reducing its non-green mortgage fixed rates by up to 0.75 percentage points, from May 13 next, aiding those purchasing second-hand homes.
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