ICS, and the EBBS have followed the major lenders and cut their variable and fixed mortgage rates. The ICS, which is part of the Bank of Ireland group, has cut its variable rate for existing customers by 0.25 of a percentage point. The rate for new business falls to 6.65 per or 6.8 per cent APR. The ICS has mortgages. They are 5.59 per cent, 7.5 per cent, and 8.25 per cent. The EBS announced that it was also reducing its variable rate by 0.25 of a percentage point to 6.6 per cent or 6.8 per cent APR.