First Time Buyer

Your mortgage interest rate options

Bank of Ireland offers a wide range of fixed and variable rate products for both new and existing customers.

You can even choose both - a twin interest rate - where you put a percentage of your mortgage on a fixed rate and the rest on a variable rate. Our fixed rate mortgages are available for periods of 1, 2, 3, 5 and 10 years. Click here for our great mortgage rates.

Fixed interest rates

If you choose a fixed interest rate:

  • You can choose to fix your mortgage repayments for 1, 2, 3, 5 or 10 year periods.
  • Your monthly repayments remain the same for the fixed rate period, making budgeting easier
  • You can overpay up to 10% of your repayment each month
  • Existing customers can bring their fixed rate with them to a new Bank of Ireland mortgage if they move during the fixed period
  • During the fixed rate period, you may be liable for fixed rate breakage fees if you:
  • Switch to a variable rate
  • Pay off all or part of your mortgage.

Variable interest rates

If you choose a variable interest rate:

  • You have the flexibility to make lump sum repayments, increase your repayments or make early repayments
  • You can switch to a fixed rate at any time
  • Your monthly repayments could rise or fall over the life of your mortgage.

Request a new rate

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