AIB Bank, one of the largest in Ireland has said it is ‘less inclined’ to take on new customers who are only interested in gaining a better interest rate for their mortgage.
AIB said that it remains open to those looking for a mortage but appears to be changing it’s focus to first time buyers only.
Mortgage interest rates have increased in Ireland, despite no change in the ECB base rate. Permanent TSB has raised it’s interest rate several times in the past number of months.
Halifax which has announced it is pulling out of the Irish market will have a number of mortgage customers wishing to make the switch and AIB’s move appears to be a door closed for these customers.
In a statement AIB said it was not inclined to use its resources to facilitate the replacement of a mortgage contract at one institution with a cheaper one at AIB. However, the bank also said: “The bank said it is very keen to talk to anyone who wants to purchase a property.”