Equity Release

When you borrow more money against your property for home improvements, educational or medical expenses,
we may be able to help when you need to top up your mortgage.

What is Equity Release?

Equity is the difference between the value of your property and what you owe on your mortgage loan. If the value of your home is greater than what you now owe on your mortgage, you may be able to ‘top up’ your mortgage through Equity Release, which is an additional mortgage loan secured on the property.

For Example

Your home is currently worth€300,000
Current Mortgage€150,000
You could release equity up to €120,000 (up to 90% of the value of your property)

With Equity Release you can

  • Borrow anything from €15,000 up to 90% of the value in your home.
  • Get our most competitive rates.
  • Choose a term that suits you best, from 5-30 years. This term can differ from your current mortgage term.
  • When you release equity in your home we’ll give you 2% of your new mortgage back as Cashback. Cashback is not available with our High Value Mortgage fixed interest rate or our standard variable interest rate.


2% Mortgage Cashback Offer

Get 2% of your new mortgage back as cash when you top up your mortgage

Get 2% Cashback

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Help & Support

Need help and support? Read our frequently asked questions to find an answer.

Information & Legal notices

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 €613.16 per month at 4.15% 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 €147,482.50. We require property and life insurance. You mortgage your home to secure the loan. Maximum loan is generally 3.5 times gross annual income (4 times gross annual income for first time buyers) and 90% of the property value. A 1% interest rate rise would increase monthly repayments by €53.89 per month. The cost of your monthly repayments may increase – if you do not keep up your repayments you may lose your home. Available to over 18s only. APRC calculations are based on the cost per month on a €100,000 mortgage over 20 years.

Warning: The cost of your monthly repayments may increase.
Warning: If you do not keep up your repayments you may lose your home.
Warning: You may have to pay charges if you pay off a fixed–rate loan early.
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, a hire- purchase agreement, a consumer-hire agreement or a BNPL agreement in the future.

Bank of Ireland Mortgage Bank u.c. trading as Bank of Ireland Mortgages is regulated by the Central Bank of Ireland.

Contact us

Speak with one of our Mortgage Service Specialists. Open 9am – 5pm Monday to Friday