🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

Bank of Ireland increases fixed mortgage rates by 0.25%

Published 10/11/2022, 11:34
Updated 10/11/2022, 11:45
© Reuters. FILE PHOTO: A man walks past the Central Bank of Ireland in Dublin, Ireland, February 11, 2022. REUTERS/Clodagh Kilcoyne

DUBLIN (Reuters) - Bank of Ireland followed main rival AIB in increasing mortgage interest rates after the European Central Bank began to hike its rates, adding a smaller 0.25% to the cost of a new fixed-rate mortgage on Thursday.

© Reuters. FILE PHOTO: Signage is seen outside a branch of the Bank of Ireland in Galway, Ireland, August 6, 2020. REUTERS/Clodagh Kilcoyne

AIB, the country's largest mortgage lender, last month became the first Irish bank to increase its fixed rates since the ECB began to push rates up at its fastest pace on record. It increased new fixed rates by half a percentage point.

While Ireland's third high street lender Permanent TSB has yet to move, non-bank mortgage lenders in the market - ICS Mortgages, Avant Money and Finance Ireland - have increased the cost of mortgage products in recent weeks.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.