Banks cut mortgage rates in line with ECB

Two more mortgage lenders have trimmed the cost of mortgages by 0

Two more mortgage lenders have trimmed the cost of mortgages by 0.5 per cent in response to last week's interest rates cut by the European Central Bank.

Bank of Ireland set their new rate at 4.3 per cent and the First Active cut to 4.24 per cent.

It will mean savings of around € 54 per month for borrowers with €200,000 loans over 20-year terms.

PA