New Competitive Bank Of Ireland Mortgage Rates

New bank of ireland mortgage rates released

When looking to get a mortgage or remortgage quote, chances are that Bank of Ireland mortgage rates are probably not your first thought! Despite being THE Bank of Ireland, most people would think of the likes of Halifax, NatWest, Nationwide, Santander before BOI. However, the bank has reached out to all subscribing mortgage brokers this morning to announce that they have launched some very competitive new remortgage rates. Below is a round up of everything they have announced so far.

New Bank of Ireland Mortgage Rates

Now that the mortgage market has started to settle down a bit more after the mini budget of 2022 fiasco, many borrowers or potential borrowers are asking the questions “What will the average mortgage rate settle at?” and “Will there still be a market for high loan to value mortgages?” meaning mortgages of 85% LTV or above. Well, the consensus between mortgage advisers at the moment is that rates are likely to level out at between 3.5% – 4.5% with some lenders offering higher and some lenders offering lower rates. In the new rate sheet released today by BOI it seems that this is pretty much spot on.

The other concern regarding high LTV mortgages is also a very valid one. During and post the COVID-19 pandemic and after the mini-budget disaster mortgage lenders either completed removed their high LTV products or increased the rates so high that it didn’t make sense to try and get a mortgage with 15% deposit or less. However, now that things are levelling out and confidence is returning to the market, lenders like Bank of Ireland are starting to provide some very competitive high LTV products.

What Are The New Rates and Products?

Up to 60% LTV:

• 4.25% 2-year fixed  – £1,495 Fee –  £0 Cashback – Remortgage Only – Capital Repayment – 3% ERC until 31/05/2024 then 2% until 31/05/2025 – £100,000 minimum loan,  £1,500,000 maximum loan.
• 4.35% 2-year fixed – £995 Fee –  £0 Cashback – Remortgage Only – Capital Repayment – 3% ERC until 31/05/2024 then 2% until 31/05/2025 -£100,000 minimum loan, £1,500,000 maximum loan.
• 4.85% 2-year fixed – No Fee –  £0 Cashback – Remortgage Only – Capital Repayment – 3% ERC until 31/05/2024 then 2% until 31/05/2025 -£100,000 minimum loan, £1,500,000 maximum loan.
• 4.09% 5-year fixed – £1,495 Fee – £0 Cashback – Remortgage Only – Capital Repayment – 4% ERC until 31/05/2025 then 3% until 31/05/2027 then 2% until 31/05/2028 – £100,000 minimum loan, £1,500,000 maximum loan.
• 4.14% 5-year fixed – £995 Fee – £0 Cashback – Remortgage Only – Capital Repayment – 4% ERC until 31/05/2025 then 3% until 31/05/2027 then
  2% until 31/05/2028 – £100,000 minimum loan, £1,500,000 maximum loan.
• 4.44% 5-year fixed – £0 Fee – £0 Cashback – Remortgage Only – Capital Repayment – 4% ERC until 31/05/2025 then 3% until 31/05/2027 then 2% until 31/05/2028 – £100,000 minimum loan, £1,500,000 maximum loan.

Up to 75% LTV:

• 4.49% 2-year fixed – £995 Fee – £250 Cashback – Capital Repayment – 3% ERC until 31/05/2024 then 2% until 31/05/2025 –  £100,000 minimum loan, £1,000,000 maximum loan.
• 4.39% 2-year fixed – £995 Fee – £0 Cashback – Remortgage Only – Capital Repayment – 3% ERC until 31/05/2024 then 2% until 31/05/2025 – £100,000 minimum loan, £1,000,000 maximum loan.
• 4.90% fixed – £0 Fee – £0 Cashback – Remortgage Only – Capital Repayment – 3% ERC until 31/05/2024 then 2% until 31/05/2025 – £100,000 minimum loan, £1,000,000 maximum loan.
• 4.18% 5-fixed – £995 Fee – £250 Cashback – Capital Repayment – 4% ERC until 31/05/2025 then 3% until 31/05/2027 then 2% until 31/05/2028 -£100,000 minimum loan, £1,000,000 maximum loan.
• 4.18% 5-year fixed – £995 Fee – £0 Cashback – Remortgage Only – Capital Repayment – 4% ERC until 31/05/2025 then 3% until 31/05/2027 then
  2% until 31/05/2028 – £100,000 minimum loan, £1,000,000 minimum loan.
• 4.50% 5-year fixed – £0 Fee – £0 Cashback – Remortgage Only – Capital Repayment – 4% ERC until 31/05/2025 then 3% until 31/05/2027 then 2% until 31/05/2028 – £100,000  minimum loan, £1,000,000 maximum loan.

Up to 80% LTV:

• 4.75% 2-year fixed – £995 Fee – £250 Cashback – Capital Repayment – 3% ERC until 31/05/2024 then 2% until 31/05/2025 – £50,000 minimum loan, £750,000 maximum loan.
• 4.75% 2-year fixed – £995 Fee – £0 Cashback – Remortgage Only – Capital Repayment – 3% ERC until 31/05/2024 then 2% until 31/05/2025 -£25,001 minimum loan, £750,000 maximum loan.
• 5.15% 2-year fixed – £0 Fee – £0 Cashback – Capital Repayment – 3% ERC until 31/05/2024 then 2% until 31/05/2025 – £25,001 minimum loan,£750,000 maximum loan.
• 4.44% 5-year fixed – £995 Fee – £250 Cashback – Capital Repayment – 4% ERC until 31/05/2025 then 3% until 31/05/2027 then 2% until 31/05/2028 – £50,000 minimum loan, £750,000 maximum loan.
• 4.44% 5-year fixed – £995 Fee – £0 Cashback – Remortgage Only – Capital Repayment – 4% ERC until 31/05/2025 then 3% until 31/05/2027 then 2% until 31/05/2028 – £25,001 minimum loan, £750,000 maximum loan.

Up to 90% LTV:

• 5.25% 2-year – £0 Fee – £0 Cashback – Capital Repayment – 3% ERC until 31/05/2024 then 2% until 31/05/2025 – £25,001 minimum loan, £500,000 maximum loan.
• 5.48% 2-year fixed – £0 Fee – £500 Cashback – Capital Repayment – 3% ERC until 31/05/2024 then 2% until 31/05/2025 – £100,000 minimum loan, £500,000 maximum loan.
• 4.72% 5-year fixed – £0 Fee – £0 Cashback – Capital Repayment – 4% ERC until 31/05/2025 then 3% until 31/05/2027 then 2% until 31/05/2028 -£25,001 minimum loan, £500,000 maximum loan.
• 4.82% 5-year fixed – £0 Fee – £500 Cashback – Capital Repayment – 4% ERC until 31/05/2025 then 3% until 31/05/2027 then 2% until 31/05/2028 -£100,000 minimum loan, £500,000 maximum loan.

Up to 95% LTV:

• 6.29% 2-year fixed – £0 Fee – £500 Cashback – Capital Repayment – 3% ERC until 31/05/2024 then 2% until 31/05/2025 – £50,000 minimum loan, £500,000 maximum loan.
• 5.72% 5-year fixed – £0 Fee – £500 Cashback – Capital Repayment – 4% ERC until 31/05/2025 then 3% until 31/05/2027 then 2% until 31/05/2028 – £50,000 minimum loan, £500,000 maximum loan.
• 5.74% 5-year fixed – £0 Fee – £0 ERC – Capital Repayment – 4% ERC until 31/05/2025 then 3% until 31/05/2027 then 2% until 31/05/2028 – £25,001 minimum loan, £500,000 maximum loan.

Speak To A Mortgage Advisor About Low Deposit Mortgages

If you or anyone you know is looking for a low deposit, high LTV mortgage (85, 90, 95%) the best thing to do is speak to one of our advisors at Oportfolio Mortgages. We are experts in finding the best deals and rates for mortgage borrowers and we are here to help. Give our team a call today for a free initial mortgage affordability consultation.