AIB has cut the interest rate it offers on its fixed rate green mortgage products by a quarter of a per cent, along with its four-year fixed rate mortgage for loans of more than €250,000.
The cut, which follows the decision by the ECB to cut rates earlier this month, brings the interest rate on the green mortgage to 3.2 per cent, and the four-year fixed rate to 3.7 per cent.
Green mortgages can be applied to properties that have a BER rating of A1 to B3, and can also be applied to self-build properties with more than five years left on the mortgage term.
Rates will be available from September 27th to new and existing customers.
AIB has also extended its approval in principle period from six to 12 months
AIB’s managing director of retail banking Geraldine Casey said this was the third rate cut AIB had introduced for mortgage rates in 2024.
“We recognise that many home buyers may look to borrow more than €250,000 to secure their desired home,” she said. “This mortgage offering is especially popular with customers in areas where there may be fewer homes available with higher energy efficiency ratings.”
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