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 start from 3.1% (4.0% APRC) for a 3-year fixed rate for mortgages up to 80% loan to value (correct as at 4th October 2016).
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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.
The lender is Bank of Ireland Mortgages. Lending criteria and terms and conditions apply. A typical mortgage to buy your home of €100,000 over 20 years with 240 monthly instalments costs €615.79 per month at 4.2% variable (Annual Percentage Rate of Charge (APRC) 4.3%). APRC includes €150 valuation fee and mortgage charge of €175 paid to the Property Registration Authority. The total amount you pay is €148,114.60. We require property and life insurance. You mortgage your home to secure the loan. Maximum loan is generally 3.5 times gross annual income and 80% of the property value (90% of the property value for first time buyers). A 1% interest rate rise would increase monthly repayments by €54.02 per month. The cost of your monthly repayments may increase – if you do not keep up your repayments you may lose your home.
At the end of a fixed rate period, existing customers on a fixed rate can choose from our range of fixed rate options or roll to the prevailing Loan to Value Variable rate. Mortgage applicants must be over 18.
Warning: The cost of your monthly repayments may increase.
Warning: You may have to pay charges if you pay off a fixed–rate loan early.
Warning: If you do not keep up your repayments you may lose your home.
Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.