It is usually a condition of your mortgage that you have both life cover and home insurance in place. Home insurance is usually split into building cover and contents cover. Life cover is required so that your mortgage is paid off in the event of death. To find out more, or to organise cover, speak to a mortgage advisor.

We’ll give you 2% Cashback when you drawdown your new mortgage with us. If you’re a Bank of Ireland current account customer, you can also qualify for Cashback PLUS - we’ll give you an extra 1% of your mortgage back as cash after 5 years. Find out more about our Cashback PLUS offer. (Terms and Conditions apply)

You can start your application online here in just a few minutes. We’ll capture some information up front and one of our expert mortgage advisers will call you back to go through the rest of your application.

• Alternatively you can call us on 0818 200 339 or ask to speak with a Mortgage Advisor in one of our 250 branches across the country. Our advisers will be more than happy to talk you through the application process and let you know what’s involved
• We may have a Mobile Mortgage Manager in your area who can meet you at a time and place that suits you – even at weekends – to chat through your requirements
• You can also Skype or Facetime a mortgage advisor to make a mortgage application. Click here for further details.

A variable interest rate is subject to change, and will rise and fall over the term of the mortgage. This means that the repayment may change throughout the mortgage term. You can make additional repayments to your variable rate mortgage at any time. It’s also possible to change to a fixed rate, if required

A fixed rate mortgage loan has a rate fixed for a specified period of time. This means that the monthly repayment amount will remain the same during the fixed period. We offer fixed rates over periods from 1 year to 10 years.

Yes, we provide ‘House-Hunter mortgage approval in principle’ which means you can apply for your mortgage before you have found a suitable property. This Approval in Principle lasts for 6 months.

• Bank of Ireland provides a Buy to Let mortgage specifically for investment properties and is very keen to help property investors in purchasing their rental property
• We provide interest-only repayment options for 1 and 5 years depending on the loan to value, and our Buy to Let Mortgage rates are very competitive. I’d advise anyone thinking of buying an investment property to talk to their Bank of Ireland mortgage adviser first and we can go through our mortgage proposition in detail. Our doors are open and we’d be delighted to talk to you.

A twin rate mortgage allows you to choose both a variable and fixed rate. For example, you may decide to have 50% of your mortgage on a variable rate and 50% of your mortgage on a fixed rate. This gives you some certainty on your repayments, while allowing you to benefit from a variable rate.

• You will need a solicitor to managing the legal process of buying property. Called ‘Conveyancing’, this includes researching, documenting and transferring ownership of a property, filing records in state registries and paying government stamp duty on the sale. Your solicitor will also carry out ‘Searches’ to ensure that the person selling the property has a legal right to sell it and that there is nothing on the title (such as another mortgage) that might affect you, and to check for planning permission
• A professional valuer is also required to provide a report that describes the property and estimates its market value. The valuer must be acceptable to the Bank
• The Valuation Report is not a detailed structural or planning survey and we strongly recommend you have one carried out by a qualified Surveyor for your own peace of mind.

We’re keen to see that you can afford to take on a mortgage and still have enough money left each month to enjoy your new home… even if rates increase. Here are some of the things we will take into consideration as part of your application:

• Your sums: We like to see that you have done your calculations and have a good understanding of what you can afford, how much you can put into the sale and how you can afford to repay your mortgage. Have a look at our mortgage calculators to see how much you can borrow and how much you can afford to repay
• Your savings: It’s really important to show that you have saved regularly over 9 to 12 months – it demonstrates that you are serious about getting a mortgage and also shows (with rent if you are paying it) what you might be able to afford in mortgage repayments
• Your day-to-day finances: You should be able to show that your bank accounts have been operating satisfactorily
• Your other borrowings: It’s a good idea to pay down credit cards and personal loans if you have any as much as possible as additional borrowing could affect the amount you can borrow for your mortgage
• Additional costs: You will need to show how you can cover additional costs such as stamp duty, legal fees and any additional expenses that might be required to make your new property habitable.

A First Time Buyer is defined as a person who has never before, either on his or her own or with others, purchased a house, a site to build a house, or an apartment, in Ireland or abroad. In the case of a joint application, both parties must be First Time Buyers for the mortgage to be a First Time Buyer mortgage.

These are the documents you should be in a position to provide up front with your application:

If you are a PAYE employee

• Your Pay-slips for the last 2 months.
• Your most recent P60.
• Salary Certificate (a standard form provided by the Bank for completion by your employer).

If you are Self Employed

• Your last two years’ certified/audited accounts
• Last 6 months business bank account statements (if business account is not with Bank of Ireland)
• Other documents may be required if your business is not established for a full 2 years of if you are a sole trader or self-assessed.

All applicants

• Last 6 months personal current account statements (if account is not with Bank of Ireland).
• Last 12 months savings account statements showing build-up of funds (if account is not with Bank of Ireland).
• Statements showing your last 12 repayments for any existing mortgage held with another financial institution
• Statements for recent loans that are now closed (if not with Bank of Ireland).

Additional documents that may be needed for your application

• You may also be required to provide identification documents and confirmation of your address. This is usually a current valid Passport or Driving Licence and recent utility bill.
• Gift Letter (a standard form provided by the Bank to show that a gift does not need to be repaid).
• Source of funds - this could include Government’s Help to Buy Scheme for First Time Buyers, evidence of inheritance or other source of funds that will contribute to the mortgage deposit.
• Separation/Divorce Agreement.
• Confirmation of rental income.
• Confirmation of Tax Affairs (For self-employed or if you have any non-PAYE income).

If you are having your home built or making structural improvements

• Your fixed price contract or detailed building costings.

You can apply to Bank of Ireland for a mortgage even if you’re not a Bank of Ireland customer. You will need to provide ID documents for all parties to the mortgage – generally a valid Passport or Driving licence, and a utility bill (less than 6 months old) to confirm current permanent address.

LTV stands for Loan to Value. This refers to the ratio between the amount borrowed and the value of the property. For example, if the property value is €200,000 and the loan is for €150,000, then the LTV is 75%.

• Stamp duty– Up to €1m is 1% - Please refer to revenue.ie for further information.
  *Offer available to first time buyers... Bank of Ireland cannot accept responsibility for information on Third Party Websites

• Solicitor’s fees

• Valuation report

• Surveyor's report – if applicable

APR stands for Annual Percentage Rate. It is the total cost of credit a borrower pays, expressed as an annual percentage of the amount of credit given. APR is a useful for comparing costs between different loans and different lenders.

You can choose from Bank of Ireland’s range of competitive fixed and variable rate options. These rates vary depending on the amount of your loan relative to the property value, known as Loan to Value, or LTV. Alternatively you have the option to fix a portion of your mortgage and put the rest on a variable rate.