High Value Mortgage Fixed Interest Rate
Are you borrowing €300,000 or more for your homeowner mortgage? If so, you can choose our High Value Mortgage fixed interest rate.
This is a five-year fixed rate of 2.5% (APRC4 from 3.3%). Once the five year fixed rate ends you will be able to choose from our normal interest rate options available to existing customers.
If you get our High Value mortgage fixed rate, you won’t get a cashback offer. You might find that our High Value Mortgage fixed interest rate suits you better than a standard fixed rate with our cashback offer. We’ll help you compare these.
Here is an example of a €300,000 mortgage loan over 30 years showing how much you would repay if you chose the High Value Fixed interest rate compared with our standard 5 year fixed rate with 3% cashback1.
|High Value Fixed Interest Rate||5 Year Fixed Rate with Cashback|
|Interest rate||2.5% (APRC4 from 3.3%) for 5 years||3% (APRC5 from 3.6%) for 5 years|
|Your monthly repayment for the first 5 years||€1,184.55||€1,263.60|
|Monthly repayment for the remainder of the loan2||€1,421.73||€1,435.09|
|Total amount repayable||€497,591.38||€506,342.90|
|3% Cashback1 which may be paid to you||€0||€9,000.00|
|Total repayable (less cashback)3||€497,591.38||€497,342.90|
Important Information in relation to the calculations above:
Cashback is 2% of the mortgage loan paid on drawdown + an additional 1% after 5 years if you have a Bank of Ireland current account, subject to meeting the conditions of the mortgage. See Cashback PLUS terms and Conditions.
Both rate options assume that the loan will roll to a standard variable rate of 4.2% (APRC 4.3%) and that this rate will not change for the remainder of the loan term (in practice interest rates can change over time).
The cost difference over the life of the mortgage will vary depending on the amount of the loan, its term (duration) and the interest rates that will apply after the fixed rate period ends.
*APRC means Annual Percentage Rate of Charge. APRC of 3.3% is based on a Loan to value of <=60%.
*APRC means Annual Percentage Rate of Charge. APRC of 3.6% is based on a Loan to value of <=60%.
Ask us about our High Value Mortgage fixed interest rate and what it could mean for you.
If you are buying or building a property with a Building Energy Rating (BER) B3 or better you may also qualify for an additional rate discount. Ask us about our Green Mortgage fixed interest rate.Apply Now Talk to us today – 0818 365 345