AIB is the latest lending institution to raise its fixed mortgage rates, announcing increases on its one to 10-year products.

The bank's variable rate remains unchanged at 5.25 per cent while the new fixed-term rates are effective immediately.

AIB's one-year rate has been raised to 4.25 per cent from 4.0 per cent, its three-year rate is up to 5.75 per cent from 4.85 per cent while the four and five-year rates have been increased to 5.95 per cent from 5.25 per cent. The bank's 10-year rate has been increased to 6.55 per cent from 5.75 per cent.

Meanwhile, EBS Building Society, which raised its fixed-term mortgage rates last Thursday, is increasing deposit rates with effect from September 1st.

Its Suregrowth two-year fixed deposit rate has been increased to 8 per cent from 7.5 per cent, the three-year rate is up to 14 per cent from 10.5 per cent while the five-year rate has been increased to 27 per cent from 21 per cent.

Each of these products requires a minimum investment of £3,000.

The interest rate attaching to the company's six-year cert product, in which a minimum of £100 must be invested, has also been raised to 32.89 per cent before tax from 27.63 per cent.