AIB has become the latest financial institution to increase its fixed interest mortgage rates. The bank says that rates for new residential owner occupier and buy-to-let mortgages will rise from close of business today

The bank says the increases are due to the increased cost of fixed rate mortgage financing.

The bank's one-year fixed rate for owner occupiers rises to 4.15% from 3.59%, while its five-year rate will increase to 5.35% from 4.39%.

AIB's one-year fixed rate for residential buy-to-let customers will increase from 4.59% to 5.15%, while its five-year rate rises to 6.35% from 5.39%.

The bank's two-year, three-year and four-year rates are also rising.