Bank of Ireland Mortgages announces interest rate increases
Bank of Ireland has today (Thursday 1st May 2008) announced interest rate increases across its Fixed and Tracker Rate mortgages on Homeloan and Residential Investment Loans.
There are changes of between 0.10% and 0.35% across a range of Fixed and Tracker Homeloan rates for new business. In addition there is an increase of 0.55% on the 1 year fixed rate for homeloans. There are increases of up to 0.40% on Residential Investment Loans.
Commenting on the rate increases Brendan Nevin, Director, Personal Lending, Bank of Ireland said
“The cost at which banks borrow has continued to increase over the last number of months. We have been monitoring this situation very closely, and today we are moving our rates to reflect the current market conditions”.
These rate changes are effective from Friday 2nd May 2008.
Legal and Contractual Interest Rates Provided by Bank of Ireland Mortgages. These rates are provided for information only. Rates effective from 10th of August 2010.
Homeloan Fixed and Variable Rates for new customers
| Product | APR Annuity |
|---|---|
| Variable VRP1 (LTV < 50%) | 3.0% |
| VRP2 (LTV 50-80% Loan > €500k) | 3.1% |
| VRP3 (LTV 50-80% Loan < €500k) | 3.2% |
| VRP4 (LTV > 80% Loan > €500k) | 3.3% |
| VRP5 (LTV > 80% Loan < €500k) | 3.4% |
| 1 Year Fixed – FTB ONLY – rolling to Variable VRP5 | 3.4% |
| 2 Year Fixed – FTB ONLY – rolling to Variable VRP5 | 3.4% |
| 2 Year Fixed – Mover Only – rolling to Variable VRP5 | 3.4% |
| 2 Year Fixed – rolling to Variable VRP5 – ALL LTVs | 3.5% |
| 3 Year Fixed – rolling to Variable VRP5 – ALL LTVs | 3.6% |
| 5 Year Fixed – rolling to Variable VRP5 – ALL LTVs | 4.0% |
Homeloan Fixed and Variable Rates for existing Customers
| Product | APR Annuity |
|---|---|
| 2 Year Fixed rolling to Variable VRP15 all LTVs | 3.6% |
| 3 Year Fixed rolling to Variable VRP15 all LTVs | 3.7% |
| 5 Year Fixed rolling to Variable VRP15 all LTVs | 4.3% |
| Variable VRP15 all loan amounts and LTVs | 3.5% |
Typical APR calculations are based on the cost per month on a €100,000 mortgage over 20 years.
35 year term is available to first time buyer only.
Repayment figures per €1,000 apply for fixed period only.
Buy to Let Fixed and Variable rates for new customers
| Product | APR Annuity |
|---|---|
| Variable BTLVRP1 – LTV < 50% | 4.3% |
| Variable BTLVRP2 – LTV 50% to 75% | 4.5% |
| Variable BTLVRP3 – LTV > 75% | 4.6% |
| 2 Year Fixed rolling to Variable BTLVRP1 – LTV < 50% | 4.5% |
| 2 Year Fixed rolling to Variable BTLVRP2 – LTV 50% to 75% | 4.6% |
| 2 Year Fixed rolling to Variable BTLVRP3 – LTV >75% | 4.7% |
| 3 Year Fixed rolling to Variable BTLVRP1 – LTV < 50% | 4.6% |
| 3 Year Fixed rolling to Variable BTLVRP2 – LTV 50% to 75% | 4.7% |
| 3 Year Fixed rolling to Variable BTLVRP3 – LTV >75% | 4.7% |
| 5 Year Fixed rolling to Variable BTLVRP1 – LTV < 50% | 4.8% |
| 5 Year Fixed rolling to Variable BTLVRP2 – LTV 50% to 75% | 4.9% |
| 5 Year Fixed rolling to Variable BTLVRP3 – LTV >75% | 5.0% |
Buy to Let Fixed and Variable Rates for existing customers
| Product | APR Annuity |
|---|---|
| 2 Year Fixed rolling to Variable BTL VRP13 all LTVs | 4.8% |
| 3 Year Fixed rolling to Variable BTL VRP13 all LTVs | 4.8% |
| 5 Year Fixed rolling to Variable BTL VRP13 all LTVs | 5.1% |
| Variable BTLVRP13 all loan amounts and LTVs | 4.7% |
Typical APR calculations are based on the cost per month on a €100,000 mortgage over 20 years.
Repayment figures per €1,000 for fixed period only.