THOUSANDS of homeowners on variable mortgage rates are set to benefit after AIB, EBS and Haven cut their home-loan rates.
The lenders, which are all part of the AIB Group, have reduced the variable rate by 0.25pc.
The lenders, which are all part of the AIB Group, have reduced the variable rate by 0.25pc.
It is the first time variable rates have been cut in years, despite the European Central Bank rate being cut twice this year. The ECB rate is now at a record low of just 0.15pc.
New and existing borrowers with AIB, EBS and Haven gain from the rate cuts.
Some 146,000 existing homeowners will set their payments go down, the bank said.
The move will mean savings of €330 a year for a family with an AIB variable mortgage of €200,000 over 25 years, the bank said.
http://www.independent.ie/business/...s-as-aib-ebs-cut-interest-rates-30705276.html