AIB cuts standard variable mortgage rate to 3.4%

The bank's cut in mortgage rates will apply to both new and existing customers

AIB's standard variable mortgage rate will fall to 3.4% from July 1

AIB has cuts its variablemortgage rates for both new and existing customers, reducing its standard variable rate to 3.4 per cent, amid mounting political pressure.

The reduction, the fourth in 18 months, will take effect from July 1 and will apply to both owner-occupier and buy-to-let mortgages.

The bank, which said its new loan-to-value variable rates will now stand at 3.1 per cent, also plans to introduce a €2,000 contribution toward professional fees ...