Switch your mortgage to Bank of Ireland

Get up to 3% Cashback and a low fixed rate.

Over the last year, people who’ve switched their mortgage to Bank of Ireland have discovered just how easy it is to do this. More importantly, they stand to gain an average cashback windfall of €8,000.

€8,000 is based on the average mortgage switched to Bank of Ireland, with 2% cashback paid on drawdown, and the remaining 1% cashback after five years.*

How would you use yours?

  • Got grand designs on some home improvements?
  • Want to put a little aside for a rainy day?
  • Maybe paying off some bills is what you’ve got in mind?

However you choose to use your cashback, the Switcher team is here to help.

You can simply apply online now or call us on 1890 365 850. We’ll work out how much cashback you could get, and how much you can save by switching your mortgage to Bank of Ireland.

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*The average mortgage switched to Bank of Ireland in the 12 months to June 2018 was €277,734, of which the average cashback is €8,332.

Get up to 3% Cashback



 

  • Get 2% of your new mortgage back as cash after you switch and draw down your new mortgage
  • Plus as a special ‘thank you’, if you have a Bank of Ireland current account, we will give you an additional 1% of your mortgage back in cash in five years’ time (subject to meeting the conditions of the mortgage).

This offer is available to Owner-Occupier switchers who draw down their new mortgage by 30th June 2019.

If you are not a Bank of Ireland customer or if you switch a Buy to Let Investment mortgage, you can still avail of our 2% Cashback offer when you draw down your mortgage.


  • Terms and Conditions

    The Bank of Ireland Cashback PLUS Mortgage Offer

    • The Cashback PLUS Mortgage offer is available to you if:

      1. You (or one of you) is already an existing Bank of Ireland current account customer AND
      2. 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 AND
      3. You draw down your new mortgage loan between 5th September 2016 and 30th June 2019.
    • The Cashback PLUS Mortgage Offer is available whether you chose a fixed or variable rate for your mortgage.

    • 2% cashback payment will be 2% of the amount you borrow under your mortgage loan offer letter. The payment will be made into your mortgage-paying current account within 45 days of drawdown of your mortgage.

    • The 1% cashback payment at the end of year 5 is 1% of the mortgage loan amount you originally drew down. The 1% cashback payment will be made into your mortgage paying current account within 45 days of the 5th anniversary of your mortgage drawdown.

    • To qualify for the payment of 1% in year 5:

      1. Your mortgage must have been drawn down within the Cashback PLUS Mortgage offer period;
      2. The Loan originally drawn down less scheduled repayments must still be owing on the fifth anniversary of the draw down date;
      3. You must have made all of your mortgage payments in full and on time;
      4. You must have met all of your other obligations under your mortgage loan documents in full;
      5. You must still live in the home you mortgaged to secure the loan on the 5th anniversary; and
      6. We must not have agreed or arranged to allow you make any reduced mortgage repayments or stop making repayments for any time. If you qualify to take a three month payment holiday and avail of it, it does not affect your entitlement to the 1% cashback payment at year 5.
    • If you draw down your mortgage in stages (e.g. for a self-build):

      1. The first drawdown must be made between 5th September 2016 and 30th June 2019 to qualify for the offer.
      2. In addition, final drawdown must be made within 18 months of first drawdown
      3. The 2% Cashback will be paid within 45 days of the final stage drawdown and will be 2% of the amount you borrow under your initial mortgage loan offer letter.
      4. Any additional lending is excluded from the calculation, e.g. a top-up mortgage loan.
      5. The 1% cashback payment at year 5 is 1% of the amount you borrow under your initial mortgage loan offer letter. The 1% cashback payment will be made into your mortgage paying account within 45 days of the 5th anniversary of the final stage drawdown.
    • The Cashback PLUS Mortgage Offer is for our existing current account customers and is intended to reward their loyalty. We do not require you to use your Bank of Ireland current account to make your mortgage payments, or pay your salary into that account.

    • The Cashback PLUS Mortgage offer is not available (a) for top-up mortgages; b) for any mortgage to buy a property to let or for investment; or (c) for any mortgage where you do not borrow as a consumer. The Cashback Plus mortgage offer is only available on mortgages from Bank of Ireland Mortgage Bank.

    • 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. If we do withdraw the offer before 30th June 2019, we will notify the public of this by putting an advertisement on our website and in at least one national newspaper.



 

What mortgage options are available?

In general, a mortgage of up to 3.5 times your gross annual income (combined income for joint applicants) is available to switchers and you can borrow up to 80% of the property value. These limits can vary so come and talk to us.

Terms of up to 30 years are available to switchers (to maximum age 70).

Apply Now



Flexible repayment options

You’ll get access to a range of flexible repayment options.

Take a three month payment break or skip months. Make overpayments to save interest or reduce your term. Split your mortgage between fixed and variable rates, and choose from the same rates as new customers at the end of your fixed rate period. Find out more.

Switching isn’t just easy, it’s flexible.

It’s so easy to contact us to talk about mortgages

Are you ready to take the next step and get switched on to switching? We’re here to help you every step of the way.

Meet us in a branch

We have qualified mortgage specialists across our network of 250 branches nationwide

Make an appointment

We’ll call to your home

Our Mobile Mortgage Managers will meet you at a time and place that suits you

Book an appointment

Call us

Speak with one of our switching specialists Mon-Fri 8am-8pm and Sat 10am-2pm

1890 365 850


Let us call you

Request a callback

Talk to us via Skype or Facetime

Arrange a time

Interest Rates

We offer a wide range of fixed rate options ranging from 12 months to 10 years. You can even choose a combination of fixed and variable rates – a Twin interest rate – where you fix a portion of your mortgage and put the rest on a variable rate. Ask us about the rate options available to you or find out more about our mortgage interest rates here.

 

LTV <=60%
LTV 61%-80%
LTV >80%
Interest RateAPRCInterest RateAPRCInterest RateAPRC
1 Year Fixed3.0%3.9%3.0%4.2%3.0%4.4%
2 Year Fixed3.0%3.8%3.0%4.0%3.0%4.3%
3 Year Fixed3.0%3.7%3.0%3.9%3.0%4.1%
5 Year Fixed3.0%3.6%3.0%3.7%3.0%3.9%
10 Year Fixed3.3%3.5%3.3%3.6%3.5%3.8%
Variable3.9%4.0%4.2%4.3%4.5%4.6%

APRC calculations are based on the cost per month on a €100,000 mortgage over 20 years. APRC includes €150 valuation fee and mortgage charge of €175 paid to the Property Registration Authority.

APRC is the Annual Percentage rate of Charge.

LTV is Loan to Value.

Owner Occupier rates

Owner Occupier rates are effective from 2nd November 2017 and are subject to change. These rates are provided for information only. At the end of a fixed rate period, customers on a fixed rate can choose from our range of fixed rate options or roll to the LTV Variable rate applicable at that time. Customers on a variable rate can choose from our range of fixed rates. To avail of a lower LTV fixed rate a property valuation report may be required.
The lender is Bank of Ireland Mortgages. Lending criteria and terms and conditions apply. Over 18s only. Mortgage approval is subject to assessment of suitability and affordability. You mortgage your property to secure the loan. We require property and life insurance. 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, 70% of the full property value for Buy to Let) but these limits may vary. A typical mortgage 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%). The total amount you pay is €148,114.60. 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].

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

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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 in the future.