![\"AIB](\"https:\/\/www.europesays.com\/ie\/wp-content\/uploads\/2025\/10\/1761217688_206_5746f0bd-fceb-4793-bda0-3fdb56fac631.jpg\")
<\/p>\nThe cuts will save homeowners on a \u20ac300,000 mortgage with a LTV ratio greater than 80pc over \u20ac1200 a year\n<\/p>\n
The move will see non-green rates cut by up to 0.65 percentage points.<\/p>\n
Brokers said the decreases were overdue as the rates the group charges on mortgages for those who do not have an energy-efficiency homes is far higher than it charges those with good energy ratings.<\/p>\n
AIB\u2019s five-year fixed rate for non-green mortgages is being reduced by 0.65 percentage points.<\/p>\n
And all other AIB non-green fixed rates are also coming down.<\/p>\n
The reductions are effective from tomorrow.<\/p>\n
The green four-year fixed rate at EBS, which is part of the AIB Group, is coming down by 0.35 percentage points. This follows recent non-green reductions.<\/p>\n
Haven, which is the broker-focused unit of AIB, will have non-green rates that are up to 0.35 points lower than previously.<\/p>\n
<\/p>\n
AIB Group has reduced mortgage rates.<\/p>\n
Today’s News in 90 Seconds, Thursday, October 23 <\/p>\n
The cuts apply to new customers and existing borrowers with the group who are coming off existing fixed rates or want to move from a variable to the lower fixed rates.<\/p>\n
Bank executives said the reductions reflect AIB Group\u2019s commitment to delivering value for customers across a variety of mortgage products, whether their home qualifies for a green mortgage or not.<\/p>\n
It said these latest reductions follow several cuts to green mortgage rates by AIB Group, as well as non-green rate cuts by EBS and green rate cuts by Haven earlier this year.<\/p>\n
After the cuts, the monthly repayment on a new \u20ac300,000 AIB one-year fixed rate mortgage, with a loan to value of greater than 80pc over a 25-year term will be \u20ac1,500.<\/p>\n
The previous monthly repayment would have been \u20ac1,606, representing a saving of \u20ac106 a month.<\/p>\n
Over a year this works out at a reduction of \u20ac1,271 in repayments.<\/p>\n
AIB\u2019s managing director, retail banking, Geraldine Casey said: \u201cWe understand that some customers are buying a home in areas where green properties are limited.<\/p>\n
\u201cThese new non-green rates in AIB and Haven will provide significant support to those customers, while the EBS green fixed rate reduction is extremely competitive.\u201d<\/p>\n
The rate cuts have been announced despite a strong chance that the new move by the European Central Bank could be a rate rise.<\/p>\n
Michael Dowling, of Irish Mortgage Brokers, said the reductions were a reaction to the pressure customers and brokers have applied as AIB has been charging premiums of more than 1 percentage points for non-green rates.<\/p>\n
He said a reduction of 0.65 points will save customers \u20ac107 a month on a \u20ac300,000 mortgage over a 30-year term.<\/p>\n
\u201cThe reductions for AIB and Haven Mortgages on non-green rates brings them back in line with competitors.\u201d<\/p>\n
Mr Dowling said 75pc of properties in Ireland have a Building Energy Rating (BER) of C to F, so did not qualify for green rates.<\/p>\n
Earlier this week a number of credit unions said they have come together to offer a standard mortgage product that will give new buyers and switchers an alternative to the banks.<\/p>\n
The new product, Credit Union Mortgage, will mean there will be a standardised national mortgage, with a set interest rate. The new single mortgage product is launching with a variable interest rate of a competitive 3.85pc. The rate will be capped at 4.4pc for the first three years.<\/p>\n","protected":false},"excerpt":{"rendered":"The cuts will save homeowners on a \u20ac300,000 mortgage with a LTV ratio greater than 80pc over \u20ac1200…\n","protected":false},"author":2,"featured_media":140384,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[9,10,2107,18,13,14,6,19,17,11,12,15,16,2108,5,7,8],"class_list":{"0":"post-140383","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-headlines","8":"tag-breaking-news","9":"tag-breakingnews","10":"tag-charlie-weston","11":"tag-eire","12":"tag-featured-news","13":"tag-featurednews","14":"tag-headlines","15":"tag-ie","16":"tag-ireland","17":"tag-latest-news","18":"tag-latestnews","19":"tag-main-news","20":"tag-mainnews","21":"tag-money-experts","22":"tag-news","23":"tag-top-stories","24":"tag-topstories"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/115423170188146582","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/140383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=140383"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/140383\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/140384"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=140383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=140383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=140383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}