Bank of Ireland Mortgages
BOI mortgages – six to chose from
Bank of Ireland Mortgage Products
Bank of Ireland offers a comprehensive range of mortgage products tailored to different customer needs, including first-time buyers, home movers, those looking to switch their mortgage, buy-to-let investors, and customers interested in energy-efficient homes.
Bank of Ireland Mortgages – Go To:
1. First Time Buyer Mortgage
The Bank of Ireland First Time Buyer Mortgage is specifically tailored to ease the transition into homeownership for those stepping onto the property ladder for the first time. Here’s a breakdown of the key features designed with first-time buyers in mind:
- Up to 4 times gross annual income (for joint applicants, combined income applies)
- Up to 90% loan-to-value (LTV)
- Terms up to 35 years
- Option to defer repayments for the first 3 months (subject to approval)
- Requires property and life insurance
2.Eco Save Mortgage
The Bank of Ireland EcoSaver Mortgage offers a distinctive approach to rewarding energy efficiency, providing discounted fixed interest rates to both new and existing customers based on their property’s Building Energy Rating (BER). Key features may include:
- Tiered Discounts: With the EcoSaver Mortgage, you get a discount on your interest rate based on how energy efficient your home is. The better your Building Energy Rating (BER), the bigger your discount
- Discounted Fixed Interest Rates: It provides reduced interest rates on fixed-rate mortgages based on the property’s Building Energy Rating (BER)
- Applies to New and Existing Customers: Both individuals taking out a new mortgage and existing Bank of Ireland mortgage holders can benefit from the EcoSaver Mortgage
- Encourages Sustainable Practices: The mortgage incentivizes investment in energy-efficient homes and upgrades, contributing to a greener environment
- Energy Upgrade Support: Bank of Ireland has partnered with SSE Airtricity to provide a “One Stop Shop” for BER assessments, quotes, and retrofitting services, helping customers improve their home’s efficiency and maximize savings
- Higher BER, Greater Discount: The better the BER rating of the property, the larger the interest rate discount you can receive. A-rated homes typically secure the most significant reduction
3. Switcher Mortgage
Bank of Ireland Switcher Mortgage, also known as remortgaging can help you secure a better rate, reduce your monthly repayments, or release equity for home improvements or other needs.
Key steps:
Steps in the Switcher Mortgage Process:
Additional Benefits:
- Initial consultation
- Approval in principle
- Legal and valuation requirements
- Formal loan offer
- Insurance
- Drawdown
- Cashback: Bank of Ireland offers cashback on certain switcher mortgages, helping you save even more when you move your mortgage
- Equity: You can also release equity as part of your switch, borrowing up to 90% of your property’s value, subject to standard lending criteria
4. High Value Mortgage
The Bank of Ireland High Value Mortgage is specifically designed for customers borrowing €250,000 or more to buy, build, or switch their primary residence. This product offers exclusive fixed interest rates over one, four, five, or seven years, which are generally lower than standard fixed rates, providing significant savings for larger loans.
Key Features:
Key Features:
- Who is Eligible: Available to those borrowing at least €250,000 for their main home, whether purchasing, building, or switching from another lender. The mortgage must be drawn down before 31 December 2025
- Fixed Rate Options: Choose from one, four, five, or seven-year fixed interest periods. After the fixed period ends, you can select from the standard rate options available
- No Cashback: High Value Mortgage fixed rates do not come with cashback offers
- Energy Efficiency Discounts: The fixed rate you receive is based on your property’s Building Energy Rating (BER), with better rates for more energy-efficient homes
- Home Residence Only: This mortgage is not available for investment properties, holiday homes, or rental properties
5. Self-Build Mortgage
The Bank of Ireland Self-Build Mortgage is a flexible solution for those looking to construct their own home, with staged payments, standard lending limits, and expert support to help turn your plans into reality.
Important Information To Know:
Important Information to Know:
Borrowing Limit
Borrow up to 3.5 to 4 times your gross annual income for a self-build mortgage
Deposit
Typically need at least a 10% deposit based on the total build and site cost
Own the Site
If you already own the site, its value can count towards your deposit
Planning Permission
Must have full planning permission before mortgage funds are released
Documentation
Documentation: planning permission, site map, building plans, costings and professional indemnity insurance
Mortgage Funds
Mortgage funds are released in stages aligned with construction progress, certified by an architect or engineer
Employment Status
Employment status must be permanent and secure; lending criteria are stricter than for standard mortgages
Contingency Fund
Have an additional 10% contingency fund for unforeseen building costs, which can happen even to the best budgets.
Government support
Eligible for government supports like Help to Buy and Local Authority Home Loan schemes if criteria are met
Process Length
Mortgage funds are released in stages aligned with construction progress, certified by an architect or engineer
6. Buy To Let Mortgage
Bank of Ireland’s Buy-to-Let mortgages provide flexible options for investors, including interest-only periods, competitive rates, and terms up to 30 years. With a maximum loan to value (LTV) of 70% and a standard variable rate currently at 4.85%, these products are suitable for both new and experienced landlords looking to finance or refinance rental properties,
- Available for both new purchases and remortgaging existing investment properties
- Loan terms available up to 30 years
- Maximum loan typically up to 70% of the property’s value
- Repayment options include:
- Full interest and capital repayments over the loan term
- Interest-only repayments for the first year (up to 70% loan-to-value, LTV)
- Interest-only repayments for the first five years (up to 60% LTV), then switching to standard repayments
- Standard variable rate currently 4.85% (APRC 5.1%); for example, a €100,000 mortgage over 20 years costs €650.63 per month at this rate.
- Lending criteria and terms and conditions apply, including property insurance requirement
- The property is mortgaged to secure the loan; APRC includes bank solicitor’s fee and outlays
- A 1% rise in interest rates would increase repayments by about €55.55 per month on a €100,000 loan
- Applicants must meet Bank of Ireland’s lending criteria; subject to status and property valuation
Bank of Ireland: Key Features & Benefits
- Cashback Plus: Up to 2% cashback on your mortgage up front, with an additional 1% after five years (subject to conditions).
- Flexi-Options: Allows customers to tailor their mortgage, for example, by taking payment breaks or making overpayments.
- Maximum Terms: Mortgages available for terms between 6 and 35 years, depending on circumstances.
- Loan-to-Value (LTV): Up to 90% for residential mortgages and up to 75% for buy-to-let.
Summary Table: BOI Mortgages
| Product Type | Key Features | Typical LTC | Repayment Types |
| Fixed rate | Fixed repayments, 1 to 7 years | Up to 90% | Repayment |
| Standard variable rate | Rate can change anytime | Up to 90% | Repayment |
| Buy to let | For rental properties, interest-only available | Up to 75% | Repayment / Interest |
| Eco saver mortgage | Rate reduction for energy upgrades | Up to 90% | Repayment |
| First time buyer | Cashback, no product fee (selected rates) | Up to 90% | Repayment |
| Switcher | Incentives for moving from another lender | Up to 90% | Repayment |
| Self build | Stage payments for new builds | Up to 90% | Repayment |
| Product Transfer | Switch to new product for existing customers | N/A | Repayment |
| Further advance | Additional borrowing for existing customers | N/A | Repayment |
About Bank Of Ireland
Bank of Ireland Group plc is one of Ireland’s largest and most established financial services institutions, with a heritage dating back to its founding by Royal Charter in 1783. Appointed as the banker to the Irish Government in 1922, it has since expanded its operations across Ireland, the UK, and internationally, serving personal, business, and corporate customers with a comprehensive range of banking, wealth management, and insurance products.
Helping customers, and society to thrive, the Bank is committed to building stronger relationships, simplifying banking experiences, and driving sustainability at every level of its business. With a focus on responsible banking, it actively supports green finance initiatives while integrating technological advancements, such as early adoption of online and mobile banking solutions.
Through innovation, responsible banking, and a customer-first ethos, it continues to play a pivotal role in supporting financial wellbeing and economic progress for individuals and communities alike.
Why choose JC Mortgages as your BOI Mortgage Broker
With over 20 years of industry experience, JC Mortgages, led by John Coleman mortgage broker, offers expert guidance tailored to your unique financial circumstances. As specialists in BOI mortgage applications, we ensure a smooth, hassle-free process from start to finish, helping you secure the best rates and terms available.
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