Mortgage holders are being told there's a price war on the way that could dramatically cut their costs.
The Competition and Consumer Protection Commission (CCPC) has launched a 'rate awareness' campaign which it hopes could save consumers thousands of euro.
The commission is advising customers to focus on mortgage rates over cashback offers, and to weigh up all options.
It comes as AIB is dropping its standard variable rates by 0.25%, with rates now as low as 2.75%.
It could amount to a reduction of several hundred euro in annual payments for customers, with the bank citing "an annual repayment saving of €315 on a €200,000 mortgage over 25 years".
The bank has said the changes will benefit more than 100,000 customers and lead to "very significant annual savings".
Many other lenders are, however, expected to follow suit.
Aine Carroll from the CCPC says customers still need to check the fine print when it comes to special offers:
