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Aib To Increase Mortgage Rates By 0.5%

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AIB set to increase mortgage rates

(UKPA) – 22 minutes ago

Allied Irish Bank (AIB) has announced around 50,000 homeowners are to be hit with a rise in mortgage interest rates.

The bailed-out bank revealed its standard variable mortgage rate will increase by 0.5% to 3.25% - just days after it recorded pre-tax losses of just over two billion euro for the first half of the year.

AIB said fixed rates would be rising for new owner occupier customers, while existing tracker rates and fixed rate contracts would not be affected

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Doesn't Aib do the mortgages for the post office IIRC. Edit: nope it's bank of Ireland.

It's a shame it's not for existing borrowers but could be the first step of the second credit crunch.

Edited by Pent Up
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