AIB Group is to increase the payment it makes to customers who want to switch to a mortgage with the bank.
AIB is increasing to €3,000 the payment for eligible mortgage customers who switch to a mortgage with AIB, EBS or Haven, up from a payment of €2,000.
The payment helps cover the costs associated with switching, and aims to encourage switching for mortgage customers, particularly those whose fixed rate mortgages are coming to an end.
The bank said its 50% increase in switcher payments will help customers meet a number of costs associated with switching as they look to get a mortgage that is good value for them.
Today's move follows recent rate reductions of 0.2% across AIB, EBS and Haven green mortgages.
AIB Managing Director Retail Banking, Geraldine Casey, said the bank knows the mortgage process can seem a bit overwhelming.
"That's why we're making it easier for customers to switch to us by increasing the switcher payment, so customers have more support in covering their costs," Ms Casey said.
