KBC Bank Ireland has announced cuts in its variable mortgage rates for new residential mortgage customers - first time buyers, movers and switchers.
The bank said its 50% Loan to Value rate will fall from 3.7% to 3.45%, while its 90% Loan to Value rate will decrease from 4.1% to 3.85%.
Further decreases are available if customers also hold a account account with the bank.
It said that a new mortgage customer who opts for a variable rate of 3.25% can save €1,336 in the first year of the mortgage. €16,627 could be saved over a 20 year term on a €300,000 mortgage.
The bank also said today that a cash contribution of €2,000 is available to customers switching their mortgage to KBC by the end of December.
