IBRC to reduce its standard variable interest rate for homeloan mortgages

Irish Bank Resolution Corporation Limited (“the Bank”) confirms that, in relation to former Irish Nationwide Building Society homeloan mortgage customers, the homeloan standard variable mortgage rate will decrease by 0.25% to a new rate of 4.15% (APR 4.23%). This rate reduction will come into effect from 16^th November 2011. This equates to a monthly reduction of €13.35 per €100,000 of borrowings over 20 years. 

The Bank will be writing to affected customers to advise them of this change. 

Ends

Irish Bank Resolution Corporation Limited (trading as IBRC) is regulated by the Central Bank of Ireland.