Allie Irish bank have made some changes to mortgage interest rates for new customers that came into effect today (Feb 16th 2009). Previousl they had one standard variable rate for all LTVs – but now they charge higher rates for bigger LTVs. The best variable rate from AIB is available for borrowers who want to borrow less than 50% of the value of their house. (3.25%) . Halifax will give similar borrowers a rate of just 3.15%.
AIB’s rate for an LTV between 80% and 92% is now 3.65%. Last week the same housebuyer could have got 3.25%. By introducing these new bands – AIB have managed to reverse some of the recent cuts they made to mortgage rates after ECB rate cuts. See all the lowest mortgage rates on the menu to the right.
