AIB Green Mortgage Rates – You might be eligible

8th April 2024

Posted In: FYI

AIB, EBS and Haven Green Mortgage fixed rates are being reduced by 0.2% and will be available to both new and existing customers whose home has an energy rating of B3 or higher.

The reductions place AIB Group as market leaders for Green Mortgage rates in Ireland.

Many customers may not be aware they qualify for one of our cheaper Green Mortgage rates which are available if a customer is buying their home with a BER rating between A1 and B3. These rates are also available to customers who have a mortgage loan with us if their home has a BER rating between A1 and B3 and there are more than five years left on the loan.

According to the Sustainable Energy Authority of Ireland in the first half of 2023, more than 19,000 upgrades were completed. If you are among the growing numbers who have retrofitted your home, you may also qualify for a Green Mortgage.

AIB’s Managing Director, Retail Banking Geraldine Casey (pictured) said: “We’re delighted to announce this mortgage rate cut across all our brands, AIB, EBS and Haven, which makes our Green Mortgage product market leading and will be available to both new and existing customers. I would encourage customers to check if they are eligible for a cheaper rate, particularly those who have carried out retrofitting work on their homes to improve the energy rating to between A1 and B3.

Reducing our Green Mortgage rates aligns with our strategy to further green our loan book as we support customers to make more sustainable choices.

A monthly repayment on a new €300,000 AIB 5 year Green fixed rate mortgage with a loan to value of 50-80% over a 25 year term will be €1,508.70. The previous monthly repayment would have been €1,540.98, representing a saving of €32.28, €387.36 annually, or €1,936.80 over the five year term.

A monthly repayment on a new €300,000 AIB 5 year non-green fixed rate mortgage with a loan to value of 50-80% over a 25 year term is €1,716.36.

A monthly repayment on a new €300,000 AIB variable rate mortgage with a loan to value of 50-80% over a 25-year term is €1,573.63.

While European Central Bank rates have increased by 4.5% AIB Group has applied increases to our mortgage rates in the region of 1.70%.