Lender Haven has cut its mortgage rates for new and existing borrowers.

The move follows reductions last month from its parent AIB and are similar in magnitude.
The variable rate will fall by 0.25pc to 3.15pc from the start of next month for existing customers.

The same rate applies for new customers from later this month.
Savings of €320 a year for a family on a €200,000 mortgage over 30 years will result from the rate cut for existing customers.

There are also reductions in a string of fixed rates, which are proving increasingly popular with first-time buyers.
Four-year and five-year rates will be reduced by 0.5pc.

The three-year fixed rate comes down by 0.45pc to 3.20pc.
The new two and four-year rates will be 3.20pc, with the three at 3.20pc, and the four and also the five-year rates at 3.30. New fixed rates apply from tomorrow.

Similar decreases in rates at EBS, which is also part of AIB, are expected in the coming weeks.

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