EBS to reduce all fixed mortgage rates

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Ellie Donnelly

Mortgage lender EBS has reduced its fixed mortgage rates for new and existing customers, upping the ante in the market.

All fixed rates from one to five years have been reduced to 2.9pc from 3pc.

However, if an existing customer is already on a fixed rate and wants to avail of the new lending rates an early breakage cost may apply.

EBS chief executive Des Fitzgerald said the new rate “coupled with the recent announcement that EBS have extended our back in cash offering until the end of 2020, represents significant value for mortgage customers looking for fixed rate certainty.”

Earlier this year EBS increased the value of the cash it will give back to mortgage customers - including switchers.

The offer of up to 3pc back in cash is available to customers taking out fixed or variable rate mortgages.

Those eligible for the offer will receive €3,000 back for every €100,000 in new mortgage borrowing drawn down.