Mortgage provider Avant Money is increasing its interest rates.
The lender said rates on its 3, 4, and 5-year short-term fixed products were increasing by between 0.15 and 0.25%.
This will bring them to between 3.85% and 4.1%, depending on the term and loan to value ratio.
Its variable rates are also climbing by 0.25%.
Longer term fixed rate products are to stay unchanged.
Avant offers lifetime mortgages of up to 30 years through its One Mortgage offering.
Rates on that start at 3.95%, rising to 4.1%, depending on the loan to value and term.
The changes will take place from this coming Monday.
However, those with applications already lodged will have until September 29 to draw down their loan at existing rates.
Avant Money, with is owned by Spanish banking group Bankinter, said the decision followed the rate hike by the European Central Bank in July.
The ECB’s Governing Council is due to meet again in two weeks’ time with a further increase in rates thought likely.
Irish based lenders have been gradually passing through the rate increases to borrowers over the last years, since the upward rate cycle began.
According to the latest Central Bank data, the average interest rate on new mortgages was 4.04% in June.
However, banks have been criticised for the pace at which they have passed on the benefits of higher rates to savers.
Today AIB and the National Treasury Management agency announced increases in the rates they will pay for deposits.
