Bank of Ireland has announced that it will reduce its four-year high value fixed green mortgage rate by 0.1% to 1.9%.

The rate will be available from 22 March for new customers borrowing €250,000 or more, and who are buying or building a home with a Building Energy Rating (BER) of B3 to A1.

The bank also said it will reduce its four-year high value fixed interest rate by 0.1% to 2.2%.

From 22 March, the bank will also reduce the eligibility threshold for all high value mortgages, green and non-green from €300,000 to €250,000.

"Bank of Ireland was the first lender to offer a green mortgage and we are leading the market again with the lowest green mortgage rate available in Ireland," said Alan Hartley, Director of Home Buying at Bank of Ireland.

"Since the launch of our offering in 2019, we have supported €1.9 billion of green mortgages and green mortgages accounted for 35% of our mortgage lending in 2021," he added.