Ulster Bank and First Active have announced that they will not be passing on the 0.25% interest rate cut made by the ECB yesterday to Standard Variable Rate mortgage holders.
It is the second successive month that Ulster Bank and its sister lender have failed to pass on in full an ECB reduction in rates.
Last month, the pair only lowered their SVR by 0.25% after the ECB decided on a 0.5% cut.
Tracker mortgage customers with the pair will get the benefit of the 0.25% reduction.
In statements released this afternoon, both Ulster Bank and First Active said their decision had been taken 'in consideration of the needs of savers as well as borrowers'.
