ICS to cut fixed mortgage rates by 0.25%
The Variable Announced To Mortgage In On Builds Rates Ics December Said Move Cuts
ICS, the non-bank mortgage provider is cutting rates for new fixed-rate home loans by a quarter of a percentage point.
The firm previously charged interest rates starting at 4.5% for three and five-year fixed mortgages, with these rates now set to start at 4.25% from January 10.
ICS said the move builds on cuts to variable mortgage rates announced in December.
Ray McMahon, Chief Commercial Officer at ICS Mortgages, said: "We are pleased to introduce these lower rates as part of our commitment to making homeownership more accessible and more affordable for our customers. ICS Mortgages remains committed to delivering exceptional service and innovative solutions."
"This fixed-rate reduction builds on the variable rate cuts we announced in December for both owner-occupier and Buy-To-Let products.
"Whether through our direct channel or our extensive network of independent mortgage brokers nationwide, our goal is to provide flexible and tailored mortgage solutions that meet the diverse needs of our customers.”
ICS is owned by lender Dilosk which was founded in 2013 and acquired the non-bank mortgage provider brand from Bank of Ireland in 2014 as part of the purchase of a €223m performing mortgage book.
ICS added that this latest rate cut reflects its ongoing commitment to supporting first-time buyers, those purchasing their second or subsequent homes, and individuals looking to switch mortgage providers. Existing fixed-rate customers will not be affected, ICS noted.