Thursday 23 March 2017

Some banks won't pass on latest cut

Charlie Weston

Charlie Weston

LEADING lender AIB said last night it had no immediate plans to pass on the lastest ECB cut to variable rate customers.

It said its mortgage rates were under constant review, but stressed that it had not increased its standard variable rates since August last year.

The bank did not pass on the two 0.25pc rate increases this year.

Its standard variable rate for owner occupiers is 3.25pc. Loan-to-value standard variable mortgages for owner occupiers range from 3.09pc to 3.49pc.

Ulster Bank said it had no plans to change its variable rate, "but all our products and services remain under continual review".

Bank of Ireland said it was not moving its variable rates, but would keep them under review.

Permanent TSB and KBC said they would pass on the rate cut from December 1.

Irish Independent

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