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Cashback

Defer your first 3 months’ payments

MortgageSaver

Interest Rates

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Get up to 3% Cashback

Getting into your new home is great, but then you realise you need furniture and a new set of plates. This is when the Cashback Plus comes in handy.

  • Get 2% of your new mortgage back as cash after you draw down your mortgage
  • Plus as a special ‘thank you’, 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).

If you take out a Mortgage top-up or a Buy to Let Investment mortgage, you can still avail of our 2% Cashback offer when you draw down your mortgage.

Cashback is not available with the High Value Mortgage fixed interest rate or our standard variable interest rate.


  • Terms and Conditions

    • The Cashback PLUS Mortgage offer is available to you if:
      1. 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.
    • The Cashback PLUS Mortgage Offer is available when you choose a fixed rate for your mortgage. (Cashback PLUS is not available with our High Value Mortgage fixed interest rate or our standard variable interest rate).
    • 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.
    • 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. The Loan originally drawn down must still be owing on the 5th anniversary of your mortgage drawdown;
      2. You must have made all of your mortgage payments in full and on time;
      3. You must have met all of your other obligations under your mortgage loan documents in full;
      4. You must still live in the home you mortgaged to secure the loan on the 5th anniversary; and
      5. 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. 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;
      2. The 2% Cashback will be paid within 45 days of the final stage drawdown and will be 2% of the amount you borrow.
      3. Any additional lending is excluded from the calculation, e.g. a top-up mortgage loan.
      4. The 1% cashback payment after year 5 is 1% of the amount you borrowed at drawdown. The 1% cashback payment will be made into your mortgage-paying account within 45 days of the 5th anniversary of the final stage drawdown.
      • 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:
      1. Top-up mortgages (equity release);
      2. Any mortgage to buy a property to let or for investment (buy-to let);
      3. Any mortgage where you do not borrow as a consumer, or;
      4. 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.


What mortgage options are available?

In general, a mortgage of up to 4 times your gross annual income (combined income for joint applicants) is available to first-time buyers.

First-time buyers can borrow up to 90% of the property value. For example:

Property price€250,000
90% of €250,000€225,000
Deposit required (10%)€25,000

If you’re buying with someone else you must both be first-time buyers for the mortgage to be considered a first-time buyer mortgage. Terms of up to 35 years are available to first-time buyers, Movers and Switchers.

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Take the first 3 months off your First Time buyer mortgage

We all need a little break at times. That’s why First Time Buyers1 don’t have to pay anything back for the first 3 months, so you can focus on getting settled in your new place.

To request the first 3 months off your repayments simply drop into your local branch, talk to your mortgage specialist or call 0818 365 345.

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MortgageSaver

Do you need to save regularly to build up a deposit for your first mortgage? If so, MortgageSaver could be the account for you. Open a MortgageSaver account and we’ll top up your savings by €2,000 bonus interest2 when you draw down your Bank of Ireland mortgage.

To qualify for the first-time buyer MortgageSaver Bonus Interest:

  • You must be a first-time buyer and have a personal current account in the Republic of Ireland.
  • Save a minimum of €200, maximum of €2,500 per month for at least 6 consecutive months in a MortgageSaver Account. You must save a minimum of €5,000 in total before you draw down your Bank of Ireland mortgage.
  • Draw down a Bank of Ireland first-time buyer mortgage within 30 months of opening your MortgageSaver account.
  • Use the money saved in your MortgageSaver account to help purchase your first home.
  • The bonus interest will be a fixed payment of €2,000 (less DIRT).

Bonus interest will only be paid on one MortgageSaver account on drawdown of the Mortgage.

For joint mortgage applications, to qualify for a first-time buyer mortgage, all applicants must be first-time buyers.

When do I receive my MortgageSaver Bonus Interest?

  • Bonus interest is paid net of DIRT once your Bank of Ireland mortgage has been drawn down
  • We will contact you to let you know when the Bonus Interest has been paid into your MortgageSaver account
  • Only one MortgageSaver Bonus Interest will be paid per property purchased.

Open a MortgageSaver account online and take the first step towards owning your dream home.

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Bank of Ireland is regulated by the Central Bank of Ireland

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Interest Rates

We offer a wide range of fixed rate options. 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.

Have a look at our range of competitive fixed and variable rates.

APRC calculations are based on the cost per month on a €100,000 mortgage over 20 years. Fixed rates roll to the corresponding new business variable rate at the end of the fixed period.

APRC is the Annual Percentage rate of Charge.

BER is Building Energy Rating.

Owner Occupier rates

Owner Occupier rates are effective from 26 November 2024 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 Standard Variable rate applicable at that time. Customers on a variable rate can choose from our range of fixed rates.
The lender is Bank of Ireland Mortgage Bank u.c. or Bank of Ireland. 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.

Bank of Ireland Mortgage Bank u.c. 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, a hire- purchase agreement, a consumer-hire agreement or a BNPL agreement in the future.
1 3 months’ deferred payment is available with First Time Buyer, Mover and Equity Release mortgages. Applications are subject to approval. Available on your Principle Private Dwelling only. Only available on annuity (standard capital and interest) repayment mortgages. Lending criteria and terms and conditions apply. At the end of the Deferred Start period your repayments will be adjusted so that your mortgage will be repaid within its original term. I.e. your ‘Deferred Start’ repayments will be spread over your remaining mortgage, which means your new repayments will be higher than they would be without the Deferred Start. A life Policy is required for an amount equal to 102% of the loan.
2 Bonus interest is subject to DIRT at the prevailing rate and will be paid to your account net of DIRT. First-time buyers may be entitled to claim a refund of DIRT. For more information see the Revenue.ie website. Bank of Ireland cannot take responsibility for information on third party websites.