KBC Bank Ireland is lowering a range of fixed and variable mortgage rates by between 0.1% and 0.6%.

These new offerings will be available to both new and existing KBC mortgage customers.

The bank comments that this decision is part of its "ongoing commitment to help ensure customers have the lowest monthly repayments possible."

Its mortgage customers can continue to avail of the 0.20% mortgage rate discount where customers open and mandate their salary to a KBC Current Account.

KBC is also offering €2,000 towards professional fees for all mortgage customers (switchers, movers, first time buyers and buy to let) and has extended its offer of 50% off KBC home insurance for all new mortgage customers in year one until December 31st.

Eddie Dillon, Director of Product with KBC Bank Ireland, said: "We’re acknowledging and rewarding the loyalty of our existing customers while giving both home buyers and switchers a really compelling reason to move to KBC. These rates make KBC mortgages the most compelling and competitive in the market today.

"This evolution of our mortgage offering is the latest step in a range of reductions we have offered our existing mortgage holders in recent months," he continued.

The bank put forward a number of examples in order to showcase the savings that the rate cut will offer customers: