Mortgage Flexi Options- Have a look at how you can flex your mortgage to suit your lifestyle

Mortgage Flexi-Options

• 3 Month Payment Break

  You can take a 3-month payment break up to 3 times over the life of your mortgage loan – really useful if you run into extra expenses in a year such as the birth of a child or education fees.

  To be eligible for a payment break:

  • Your mortgage loan must be drawn down at least 2 years (if drawn in instalments, it must be at least 2 years since the final drawdown),
  • There must be at least 12 months between payment breaks (or 6 months must have lapsed since your COVID-19 payment break if you took one), and
  • You must have complied with all the terms and conditions of the mortgage.

  Applications are subject to approval. Available on your principal private dwelling only. Only available and annuity (standard capital and interest) repayment mortgages. Qualification criteria and terms and conditions apply.

  At the end of the payment break period your repayments will be adjusted so that your mortgage will be repaid within its original term, i.e. your ‘break’ repayments will be spread over your remaining mortgage, which means your new repayments will be higher than they were before the payment break.

  When you apply we will send you a ‘Mortgage Form of Authorisation’ with full payment break terms and conditions for you to sign and return to us.

  • • 3-month Payment Break Calculator

      Find out how much your monthly repayments will go up after a 3-month payment break, and how much a 3-month payment break will cost you over the life of your mortgage in extra interest.

      Please type in your mortgage information below.

    • Your current mortgage balance
    • Your remaining mortgage balance should not be a negative number.
    • Current Interest rate %
      Please enter a number from 0 to 7.
    • This interest rate is not valid. Please check your interest rate and try again.

    • Remaining term in years and months
    • Years
      Please enter a number greater than or equal to 0.
    • Months

    • Our mortgage terms don't exceed 35 years. Please enter a number of years between 0 and 35.
      Please enter number of months between 0 and 11.
    • Calculate

    • Don’t know your mortgage balance or interest rate?

      Your mortgage statement we sent you in January this year will give you an indication of your balance owing. It also shows your interest rate.

      Not sure how much time is left on your mortgage term?

      This is the full term of your loan minus the number of years and months since you took it out.

    • Your current monthly repayments: {{field_8|currency:"€":2}}

      Your monthly repayments after the payment break: {{field_9|currency:"€":2}}

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      Difference in your monthly repayments: {{field_10|currency:"€":2}}

      Total amount to repay with no payment break: {{field_11|currency:"€":2}}

      Total amount to repay with a payment break:
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      Difference in total amount to repay:
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    • Current Interest Rate as decimal
    • Effective Monthly Interest Factor
    • Total months remaining in mortgage term
    • Your current monthly repayment
    • Revised Balance in 3 months post break
    • Your monthly repayments after the payment break
    • Difference in your monthly repayments
    • Total amount to repay with no payment break
    • Total amount to pay with a repayment break
    • Difference in the total amount to repay
    • Mortgage Balance - straight clone
    • Current interest - straight clone
    • Remaining Years - straight clone
    • Remaining Months - straight clone
    • ---

      This is not an application for a payment break. These calculations are indicative and are for illustrative and guidance purposes only. The calculations assume the interest rate you have input will not change for the rest of your mortgage term. (If you are on a fixed rate, at the end of your fixed rate period you will be able to choose from rate options available to you then or roll to the variable rate that will apply at that time. If you are on a variable rate, this rate may change during the life of your mortgage).

      ‘Your current monthly repayments’ is the amount you would be contractually obliged to pay based on the amount, the term and interest rate you typed in. It is based on full capital and interest payments but it does not include any overpayments. For that reason, it may not match the actual amount that you repay each month.

      The ‘Difference in the total amount to repay’ is a calculation of the additional interest you will pay over the remaining life of the mortgage based on the information you have put into the calculator.

    • Email
      This field is for validation purposes and should be left unchanged.
• Skip up to 2 payments in a year
  If you would like to have a little extra to spend at certain times of the year – such as Christmas or holiday time – you can spread your mortgage repayments in a year over 10 or 11 months and skip the other one or two. For example, if you would like to skip your repayment in December to have some extra cash at Christmas time, we can arrange for your repayments to be higher for the rest of the year so that you will make your full 12 months’ repayments over 11 months.

  Subject to meeting the conditions of your mortgage. Lending criteria and terms and conditions apply. Once you select a skip month repayment option it will continue each year unless you ask us to change it.
• Overpay your mortgage and save interest
  You can make Overpayments, either regularly or as lump sums, when you find yourself with extra cash. This will reduce your capital balance and you pay less interest. It may even reduce your term.

  • You can make regular or lump sum overpayments of any amount to a variable rate mortgage.
  • If you are on a fixed rate you can overpay up to 10% of your normal monthly repayment (or €65, whichever is greater), without incurring a fee.

  Even a small overpayment can make a difference to your mortgage. (You can cancel regular overpayments at any time. Overpayments made are not refundable) Check out our Overpay Calculator to see how much you could save.
• Split your mortgage rate
  • With our Twin rate mortgage you can benefit from the certainty and stability of a fixed rate AND the flexibility of variable;
  • Put a portion of your mortgage on a variable rate and the remainder on a fixed rate. You decide the split;
  • Find out more about your rate options here.

  Lending criteria and terms and conditions apply.
• Bring your fixed rate with you
  • Moving home? You can bring your Bank of Ireland fixed rate with you to your new mortgage without penalty as long as your new mortgage is drawn down within 6 months of redeeming your old mortgage;
  • Find full details about our Movers mortgage here.
• Change your payment date
  You can change the repayment date to another one in the month that suits you better such as right after payday.

  Applies to monthly repayments only. Subject to meeting the conditions of your mortgage. You can move your repayment date by up to 21 days. Your repayments will be recalculated so that your mortgage will be repaid by the originally agreed date.