Bank of Ireland cuts fixed mortgage rates

Bank of Ireland cut all its fixed mortgage rates by 0.5%. The reduction applies to new and existing customers effective 19th November regardless of the home’s BER rating. This was a significant step to benefit thousands of mortgage holders. 

The Bank also introduced a new 1-year fixed rate product, with no cashback, with rates starting from 3.3% for mortgages of €250,000 and over.

In a further interesting development, it also announced changes to its fixed term deposit acccount options by introducing a new 18-month fixed term deposit account with an annual equivalent rate (AER) of 2.98% and ceased its 24-month fixed-term deposit product. Read more on the Irish Independent here.