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AIB cuts its 3 and 5 year mortgage rates

Written by Robert McHugh, on 24th Feb 2020. Posted in Financial

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The Irish Independent has today reported that AIB is set to cut its 3 and 5 year fixed rates by 30bps to 2.55% and its 5 year “Green” mortgage by 5bps to 2.45%. The new AIB and Haven rates are effective from today.

AIB has also announced the introduction of what it says is Ireland’s first end-to-end online digital mortgage offering for customers.

According to Goodbody Stockbrokers, "The move by AIB comes a week or two after rate cuts announced by Ulster Bank and KBC. It comes the same day that BOI reports FY19 results, so will likely keep the focus on NIM trends and will have investors concerned about the prospects for profitability (and margins) across the sector given AIB’s market leadership position (last reported market share c.31%)." 

Source: www.businessworld.ie

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