THE Bank of Ireland, following other lenders, has decided to reduce its fixed mortgage rates with effect from Monday.

The rates for new customers will be two year, 6.85 per cent, (APR 7.5 per cent); three year, 7.4 per cent, (APR 7.6 per cent); five year, 7.95 per cent, (APR 7.9 per cent); 10 year, 9 per cent, (APR 9 per cent).