EBS becomes fourth bank to cut mortgage rates in recent months

EBS has cut its mortgage rates for first-time house buyers.

The bank has cut its 1, 2, 3, 4 and 5-year fixed rates for first-time buyers to 3%.

Permanent TSB and KBC reduced their rates in April and Ulster Bank did likewise in late March.

The bank has also extended its 2% cashback offer until December 31, 2018.

Mark Whelan, Head of Communications at bonkers.ie, said: “EBS’s rate cuts are good news for Irish borrowers and are a strong indicator that there is a mortgage rate war underway.

"Four leading banks have cut rates in the last two months, meaning that now is a good time for prospective first-time buyers to shop around and consider their options.

"More than half of all new mortgages drawn down in the first three months of the year came with fixed rates, which illustrates the growing importance Irish borrowers are placing on peace of mind and certainty over the mortgage repayments in Ireland’s notoriously unpredictable property market."

- Digital Desk

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