ICS Mortgages said it will reduce its variable rate mortgage products from 1 October.
The lender, which is owned by Dilosk, said its owner occupier variable rates and buy-to-let variable rates will be reduced by 0.25% from 1 October.
It said the reductions will be available to new and existing customers and will benefit homebuyers, homeowners, landlords, and property investors across the country.
Ray McMahon, Chief Commercial Officer at ICS Mortgages, said the latest cut reflects its ongoing commitment to enhancing its offerings whilst also providing viable, customer-focused mortgage solutions.
"This is good news today for first-time buyers, second-time buyers as well as buy-to-let investors and landlords," he added.
ICS Mortgages are available through its direct channels or via its network of independent mortgage brokers.
Meanwhile, Daragh Cassidy, Head of Communications at Bonkers.ie, said today's ECB rate cut was pretty much expected.
He said the ECB is likely to reduce rates at least one more time before the end of the year as inflation continues to ease - probably in December.
"Tracker customers will benefit almost immediately from the cut. For someone with €200,000 remaining on their mortgage over 10 or 15 years, they’ll save around another €25 a month on their repayments," he said.
"And of course they’ll also benefit from a further technical cut of 0.35 percentage points later in the month as the ECB has flagged that it’s reducing the difference between its main refinancing rate, off which trackers are priced, and its deposit rate by this amount," he added.
Mr Cassidy said the move will also put further downward pressure on variable and fixed rates.
"We may not see any reductions immediately. But we’re almost guaranteed to see some rate cuts from the main banks here over the coming weeks," he added.
Trevor Grant, chairperson of Irish Mortgage Advisors, said while the ECB cut will be a huge relief to the 180,000 tracker mortgage holders, about three-quarters of Irish mortgage borrowers are not on trackers.
He said the bulk of owner-occupier mortgages are fixed rate mortgages and indeed 69% of those taking out a new mortgage today opt for the fixed route.
"It must be remembered too that Irish home-loan variable and fixed mortgage rates are highly unlikely to fall to the same extent as ECB rates," he said.
"This is because home loan rates have not increased at the same levels as the ECB rate had between July 2022 and September 2023, and because banks are under pressure to increase returns for their savers."
"Furthermore, those seeking mortgages today face much higher interest rates than would have been the case if they took their mortgage out before ECB rates started to go up in July 2022."
