Bank of Ireland has lowered its mortgage rates again as the price war among the banks escalates. The cuts to the lender’s fixed-rate mortgages come after the European Central Bank signalled it would not push up interest rates until 2019 at the earliest.

Bank of Ireland is now offering interest rates of 3% for its one, two, three and five-year fixed-rate mortgages, irrespective of loan to value.

In addition, the interest rate for the Bank’s 10-year fixed product has been reduced to 3.3% for loans up to 80% of the property value and to 3.5% for loans above 80% LTV.

Bank of Ireland’s move comes as the competitive landscape intensifies with AIB and KBC also slashing rates in recent months in Ireland.