AIB has unveiled a new green mortgage product with its lowest interest rates on offer, beginning at 3 per cent.
This three-year fixed-rate mortgage is available to borrowers whose homes have a Building Energy Rating (BER) between A1 and A3, provided their loan-to-value (LTV) ratio is below 50 per cent.
For those with LTV ratios between 50 per cent and 80 per cent, the rate is set slightly higher at 3.1 per cent, while customers with an LTV of over 80 per cent can access a rate of 3.2 per cent.
These tiered rates offer a structured incentive for homeowners to invest in higher energy efficiency.
Additionally, AIB is launching a new two-year fixed-rate option for homes with BER ratings between A1 and B3. This rate begins at 3.15 per cent for loans with an LTV below 50 per cent, broadening the scope of eligibility for homes with solid energy credentials.
These new products will be accessible to both new and existing customers starting tomorrow.
The timing aligns with increased competition among mortgage providers, spurred on by recent cuts in the European Central Bank’s interest rates.