Bank of Ireland

Ranked as the largest Irish bank in total assets and highest rated, Bank of Ireland was founded in 1783, and today has presence in 8 countries worldwide, with over 17,000 employees.

Bank of Ireland offers the following mortgage types:

• 100% Mortgage
• First Time Buyer
• Breakthrough
• ECB Tracker
• Trading Up
• Equity Release

100% Mortgage: you can select either a variable, tracker or fixed rate. You can have a loan of up to 100% of the value of the property you want to buy. Also Bank of Ireland will lend you the money for deposit.

• To be eligible for this mortgage you have to be be a first time buyer
• The property you are buying must have 2 bedrooms at least
• Your mortgage term can be up to 35 years

First Time Buyer: you can borrow up to 92% of the price of the property you are buying. The rate for the first year will be set at a special discount rate. You can select either a variable, tracker or fixed rate.

• Flexible repayment options are available for this mortgage
• An Insurance package is included
• Included also are loan, overdraft and credit card facilities

Breakthrough: this product is for buying a house under a local authority affordable housing scheme. You can borrow up to 97% of the property value you are buying. You can select from a variable, tracker or fixed rate.

• Your mortgage term can be up to 35 years
• Flexible repayment options are available for this mortgage
• An Insurance package is included
• This mortgage is subject to approval by your Local Authority

ECB Tracker Mortgage: this mortgage is a variable tracker rate, linked to the European Central Bank, where your mortgage rate is set over the ECB rate for the whole period of the mortgage.

• Any variation in the ECB rate will be passed on to customers within 5 days

Trading Up: Bank of Ireland has a specific mortgage if you are in the process of selling your home to buy another. This mortgage aims at helping you financially, bridging the gap between moving.

Equity Release: this product could assist you finance an extension to your home, by releasing the equity in your home, which is the difference between how much you owe on your mortgage balance and the value of your home.

Bank of Ireland also has the following mortgage offers:

• Life Loan
• Investment Property
• Pension Mortgage

Life Loan: offered to people over the age of 65 who have their own homes. It is designed to release a percentage of the property worth, and gives you access to a lump sum. No repayments are required until either the property is sold; the owner vacates the property for more than 6 months; or the owner passes away.

• Your rate is fixed for the first 15 years when this period ends you can select from another fixed rate or a variable rate
• It is recommended that you obtain independent legal advice before you take out the loan

Investment Property: this is a buy to let mortgage product. Bank of Ireland can help you in buying a property overseas as well.

Pension Mortgage: this product offer is aimed at individuals who are self-employed or directors whose business are well established. It is a tax efficient way of repaying a mortgage.

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