The Cashback Mortgage offer is available to you if:
You use your mortgage loan to buy a home in the Republic of Ireland to live in yourself (as a First Time Buyer or Mover), or if you switch your mortgage loan to us from another lender (outside the Bank of Ireland Group) by re-mortgaging the house you live in. You can also use your mortgage loan to top-up an existing mortgage, or to buy a property to let or for investment;
AND
You draw down your new mortgage loan between 5 September 2016 and 31 December 2025.
The Cashback Mortgage Offer is available when you choose a fixed rate for your mortgage. (Cashback is not available with our High Value Mortgage fixed interest rate or our standard variable interest rate). As of 18 April 2024, new mortgage loans on a variable rate will not be entitled to a Cashback offering.
The 2% cashback payment will be 2% of the amount you borrow. The payment will be made into your mortgage-paying current account within 45 days of drawdown of your mortgage.
If you draw down your mortgage in stages (for example, for a self-build):
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The first drawdown must be made between 5 September 2016 and 31 December 2025, and must be made within six months of the date of your Mortgage Loan Offer Letter to qualify for the offer;
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In addition, final drawdown must be made within 18 months of the first drawdown. If you choose to not draw down the full amount noted in the offer letter, you must tell us within 18 months of the first drawdown;
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The 2% Cashback will be paid within 45 days of the final stage drawdown and will be 2% of the amount you borrow;
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Any additional lending is excluded from the calculation (for example, a top-up mortgage loan);
We do not require you to use your Bank of Ireland current account to make your mortgage payments or to pay your salary into that account.
The Cashback PLUS Mortgage offer is not available for:
- Top-up mortgages (equity release);
- Any mortgage to buy a property to let or for investment (buy-to let);
- Any mortgage where you do not borrow as a consumer, or;
- Any High Value Mortgage or variable rate mortgage.
We reserve the right to withdraw the Cashback PLUS Mortgage Offer at any time, at our discretion. For example, to reflect any changes in law or regulation or how they are interpreted.
