AIB has confirmed that it is to cut its one-year fixed mortgage rate for first-time home buyers by half a percentage point to 2.49%.
The rate will be available to owner occupiers from Monday February 16 on mortgages sanctioned by March 31 and drawn down by June 30.
AIB also announced that it will scrap its standard variable rate mortgage for new customers from February 16. New owner occupiers will now be offered new loan to value (LTV) variable rates, which will depend on how much people are borrowing and the value of their home. Existing standard rate customers will not be affected.
The LTV rates range from 3.25% to 3.65%.
