Fianna Fáil TD for Meath West Shane Cassells has called on the AIB group to urgently clarify if they intent to apply the reduction of 02.5 per cent in standard variable mortgage rates announced yesterday to EBS and Haven customers.
Deputy Cassells said, “In August 2015 when AIB last reduced rates it noted that it would benefit 156,000 mortgage account holders. Yesterday’s announcement only applies to AIB but not to EBS and Haven. This is despite both entities being 100% owned by AIB.
“As a result just 76,000 customers stand to benefit from the rate cut from July 1st, leaving 80,000 waiting to see if they too will see their monthly payment reduced. In May 2015 when AIB also reduced rates, it did so across the board for its standard variable rate customers. There is no reason for them not to follow the same approach now.
“As AIB noted in their press release yesterday, the sum of money involved is significant. Owner occupier customers with a €200,000 mortgage on a 25 year term with AIB will save an additional €320 per annum following this announcement. EBS and Haven customers deserve to benefit from the same reduction in their repayment,” concluded Deputy Cassells.