Bank of Ireland cuts interest on mortgages

Bank of Ireland today cut interest rates for its fixed-rate mortgage customers.

Following the cuts, interest on a one-year fixed-rate mortgage is now 3.35 per cent, (APR 4.2 per cent) a drop of 0.10 per cent.

Customers with a five-year fixed-rate mortgage will have their charges reduced by 0.14 per cent to 4.85 per cent (APR 4.6 per cent).

Interest on a 10-year fixed-rate mortgage has been cut by 0.15 per cent to 5.55 per cent (APR 5.4 per cent).

The changes take effect from close of business today.