The gap between the highest and lowest rate on the market is now 2.85 per cent – representing the highest potential savings that the index has recorded of €508.81 per month, compared to €298.97 at the end of the first quarter of the year.And there are even cheaper rates available for those eligible for green rates or who have lower loan to values.
“As an example, AIB’s five-year fixed green rate is 3.75 per cent, whereas their standard rate is 4.8 per cent, which would represent a saving of €8,820 in interest in five years on a €250,000 mortgage.”
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