AIB, EBS and Haven reduce mortgage interest rates
Good News for AIB Mortgage Customers
There is some good news for some mortgage holders this week with AIB, EBS and Haven all announcing that they are to reduce their variable rates for new and existing customers from 1st December 2014. The announcement includes a reduction of 0.25% for Standard Variable Rate (SVR) customers and the introduction of new lower Loan to Value (LTV) and fixed rates across AIB, EBS and Haven.
AIB Group said that the move will benefit 146,000 existing mortgage holders; for example a customer with a €200,000 mortgage will save up to €334 per annum, based on a 25 year term.
AIB Group is also introducing new market-leading fixed mortgage rates across all three brands. These include 3.80% in respect of its three year fixed rate and 3.90% for its five year fixed-rate mortgages.
New and existing customers will benefit from reduced pricing across all LTV variable rates. AIB and Haven are cutting all LTV mortgage rates by 0.24%, while EBS is reducing all its LTV rates by 0.25%. AIB and Haven customers with an LTV of 50% or less will see their interest rate drop to 3.85%, while EBS customers will see it fall to 3.80%.
What will this mean for AIB, Haven and EBS Customers?
|Impact of reduction on AIB, EBS and Haven SVR customer per 100K mortgage|
|20 yrs||25 yrs||30 yrs||35 yrs|
|(Monthly repayments sum over term of the mortgage)|
Summary of variable changes announced:
|Standard Variable Rate||4.40%||4.15%||0.25%||4.60%||4.35%||0.25%||4.58%||4.33%||0.25%|
For more information on any aspect of this post get in touch with Michael today by calling 01 822 8022 or by emailing email@example.com. You can also fill out our mortgage enquiry form and a member of our team will be in touch to discuss your application shortly.