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The Journal
a day ago
- General
- The Journal
Twenty-eight schools to undergo major retrofit works this summer
TWENTY-EIGHT SCHOOLS are to undergo 'major energy and decarbonisation retrofit works' this summer, the Minister for Education Helen McEntee has announced. The work will be funded by an investment of around €86 million in the department's REPowerEU Pathfinder scheme. The 28 schools are all in counties Kildare, Meath, Offaly, Wicklow, and Wexford. The majority of schools receiving the retrofit works this summer are national schools. The commitment by government is a 'major step forward' in the department's efforts to enhance energy efficiency of schools and advance Ireland's climate action targets. The 28 schools will have heat pumps, LED lighting and mechanical heat recovery ventilation installed to achieve a Building Energy Rating (BER) of 'at least B'. BER is measured on a scale of A to G. A-rated homes typically have the lowest energy bills. Advertisement 'The fabric and airtightness of the schools will also be upgraded and electric car chargers will be installed,' a statement from the department said. Of the schools, 24 will be supported with associated electrical upgrade by the ESB to accommodate the new decarbonised heat pump systems. Education Minister Helen McEntee said that today's announcement its a 'hugely positive development' for the schools, as well as a 'clear sign' of her department's commitment to making progress on national climate goals and delivering climate-conscious school environments. She commended the speed at which the project has been delivered. 'The department will continue to work closely with the schools, project teams, contractors, and all stakeholders to ensure smooth and timely delivery of the retrofit works over the coming months,' she said. The full list of schools who are set to undergo work this summer: Killashee National School – Kildare Allen NS – Kildare Robertstown National School – Kildare Scoil Naisiunta Bhride – Kildare Kilberry National School – Kildare SN Ide Naofa – Kildare Gilson National School (Oldcastle mixed) – Meath Colaiste Pobail Rath Cairn – Meath Scoil Ui Ghramhnaigh – Meath S N NAOMH PADRAIG Slane – Meath Scoil Naomh Bride – Meath GEASHILL NS – Offaly The Sacred Heart – Offaly Mercy Primary – Offaly Shinrone Mixed NS – Offaly Scoil Bhride – Offaly St Cynocs – Offaly Edenderry Boys National School (St Patricks) – Offaly S N NMH Seosaimh – Wexford SN Mhuire (Danecastle NS) – Wexford St Kevins NS (S N CHAOMHAIN TORRCHOILL, Tarahill) – Wexford Scoil Nicolais Naofa – Wicklow Scoil Chonglais – Wicklow S N MUIRE IS GEARARD – Wicklow Bray School Project – Wicklow Kilcommon NS – Wicklow Carnew NS – Wicklow St Patricks National School – Wicklow Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
Irish Independent
30-04-2025
- Business
- Irish Independent
AIB, EBS and Haven fixed mortgage rates to come down, but deposit reductions also on way
The moves comes after the European Central Bank announced its seventh cut in its rates earlier this month. AIB is reducing its non-green mortgage fixed rates by up to 0.75 percentage points, from May 13 next. The lower rates apply to its subsidiaries EBS and Haven also. The new rates will apply to new customers and those coming off fixed rates only, and not to those on existing fixed rates. AIB is reducing the interest it pays on two of its fixed term deposit accounts by up to 0.50 percentage points. Up to now much of the banking group's mortgage rate cuts have been for those with houses with high energy ratings. The latest cuts will help the group compete for those buying second-hand homes with lower Building Energy Ratings and many of its own customers coming off fixed rates that they locked into at lower rates than are being offered at the moment. Lowering non-green fixed rates should stop some of those people switching to other lenders, such as Avant Money. AIB's Two Year Fixed rate for non-green mortgages will reduce by 0.75 points. All other non-green fixed rate mortgages will reduce by 0.50 points, excluding the High Value Four-Year fixed rate. The bank said the reductions are in line with the falling interest rate environment and what it said was AIB's commitment to delivering value for customers, particularly those whose homes don't have a Building Energy Rating of B3 or higher. ADVERTISEMENT 'The reductions will also help customers coming to the end of their fixed term, as they roll off historically lower rates into an environment where rates are now higher,' AIB said. These latest reductions follow a number of cuts to green mortgage rates by AIB Group last year. AIB said monthly repayments on a new €300,000 AIB two-year fixed rate mortgage, with a loan to value of 50pc to 80pc, over a 25-year term, will be €1,557. The previous monthly repayment would have been €1,682, representing a saving of €125 a month. Over a year this works out at a saving of almost €1,500 over the 25 year term. AIB said that since June last year the ECB deposit rate has reduced seven times, by a cumulative 1.75 percentage points. During this time AIB has reduced fixed term deposit rates once in January 2025, by 0.25 points. 'Recognising this falling interest rate environment, AIB has now announced a second reduction to some of its fixed term deposit accounts,' the bank said. The one and two-year Fixed Term Deposit accounts will reduce by 0.25 points and 0.50 points respectively, effective from May 13. All other savings and deposit rates remain unchanged. AIB's managing director, retail banking, Geraldine Casey said: 'These significant reductions to our non-green fixed mortgage rates could benefit tens of thousands of customers by saving them money each month, in some cases by up to around €125.' Earlier this month the Central Bank said mortgage rates have come down in a move that will be a relief for new buyers and homeowners coming off fixed rates. Home-loan lending rates in this country are now at their lowest level in almost two years. The average new mortgage rates eased to 3.79pc in February. The European Central Bank is expected to cut its rates again in June, with other cuts likely as a weaker dollar against the euro is likely to subdue inflation.
Irish Independent
30-04-2025
- Business
- Irish Independent
AIB, EBS and Haven fixed mortgages rates to come down, but deposit reductions also on way
The moves comes after the European Central Bank announced its seventh cut in its rates earlier this month. AIB is reducing its non-green mortgage fixed rates by up to 0.75 percentage points, from May 13 next. The lower rates apply to its subsidiaries EBS and Haven also. The new rates will apply to new customers and those coming off fixed rates only, and not to those on existing fixed rates. However, there is no reduction in the AIB, EBS and Haven variable rates, considered very high compared with the rest of the market. AIB is reducing the interest it pays on two of its fixed term deposit accounts by up to 0.50 percentage points. Up to now much of the banking group's mortgage rate cuts have been for those with houses with high energy ratings. The latest cuts will help the group compete for those buying second-hand homes with lower Building Energy Ratings and many of its own customers coming off fixed rates that they locked into at lower rates than are being offered at the moment. Lowering non-green fixed rates should stop some of those people switching to other lenders, such as Avant Money. AIB's Two Year Fixed rate for non-green mortgages will reduce by 0.75 points. All other non-green fixed rate mortgages will reduce by 0.50 points, excluding the High Value Four-Year fixed rate. ADVERTISEMENT Learn more The bank said the reductions are in line with the falling interest rate environment and what it said was AIB's commitment to delivering value for customers, particularly those whose homes don't have a Building Energy Rating of B3 or higher. 'The reductions will also help customers coming to the end of their fixed term, as they roll off historically lower rates into an environment where rates are now higher,' AIB said. These latest reductions follow a number of cuts to green mortgage rates by AIB Group last year. AIB said monthly repayments on a new €300,000 AIB two-year fixed rate mortgage, with a loan to value of 50pc to 80pc, over a 25-year term, will be €1,557. The previous monthly repayment would have been €1,682, representing a saving of €125 a month. Over a year this works out at a saving of almost €1,500 over the 25 year term. AIB said that since June last year the ECB deposit rate has reduced seven times, by a cumulative 1.75 percentage points. During this time AIB has reduced fixed term deposit rates once in January 2025, by 0.25 points. 'Recognising this falling interest rate environment, AIB has now announced a second reduction to some of its fixed term deposit accounts,' the bank said. The one and two-year Fixed Term Deposit accounts will reduce by 0.25 points and 0.50 points respectively, effective from May 13. All other savings and deposit rates remain unchanged. AIB's managing director, retail banking, Geraldine Casey said: 'These significant reductions to our non-green fixed mortgage rates could benefit tens of thousands of customers by saving them money each month, in some cases by up to around €125.' Earlier this month the Central Bank said mortgage rates have come down in a move that will be a relief for new buyers and homeowners coming off fixed rates. Home-loan lending rates in this country are now at their lowest level in almost two years. The average new mortgage rates eased to 3.79pc in February. The European Central Bank is expected to cut its rates again in June, with other cuts likely as a weaker dollar against the euro is likely to subdue inflation.
