Make the first step
with lower Fixed Rates and up to 3% Cashback
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’, 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 first-time buyers who draw down their new mortgage by 31st December 2019.
If you are not a Bank of Ireland customer or 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.
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 first-time buyers.
First-time buyers can borrow up to 90% of the property value. For example:
|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 (to maximum age 70).
Take the first 3 months off your First Time buyer mortgage
We all need a little break at times. That’s why First Time Buyers 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 1890 365 345.Apply Now For A Mortgage
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 interest* 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.
*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.
Open a MortgageSaver account online and take the first step towards owning your dream home.Apply Now
It’s so easy to contact us to talk about mortgages
Are you ready to take the next step and buy your dream property? 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
We’ll call to your home
Our Mobile Mortgage Managers will meet you at a time and place that suits you
Speak with one of our lending specialists Mon-Fri 8am-8pm and Sat 10am-2pm
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.
|Interest Rate||APRC||Interest Rate||APRC||Interest Rate||APRC|
|1 Year Fixed||2.9%||3.9%||2.9%||4.2%||2.9%||4.4%|
|2 Year Fixed||2.9%||3.8%||2.9%||4.0%||2.9%||4.3%|
|3 Year Fixed||3.0%||3.7%||3.0%||3.9%||3.0%||4.1%|
|5 Year Fixed||3.2%||3.7%||3.2%||3.8%||3.2%||4.0%|
|10 Year Fixed||3.5%||3.7%||3.5%||3.8%||3.7%||4.0%|
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.
LTV is Loan to Value.
Owner Occupier rates
3 months’ deferred payment is optional and subject to approval. After the deferred payment period, repayments are adjusted to repay the loan within its original term. The cost of the loan will be higher. A life Policy is required for an amount equal to 102% of the loan.
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. APRC includes €150 valuation fee and mortgage charge of €175 paid to the Property Registration Authority. 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].