Bank of Ireland announces decreases to fixed rate mortgages

Building on the measures announced by the Government in December’s budget to support first time buyers in the market, Bank of Ireland is delighted to announce that new business fixed rates for owner occupiers will reduce by up to 0.41%.    The decreases will be effective for new business Bank of Ireland fixed rates on Thursday 12th April 2012.
Commenting on the rate reductions, Jonathan Byrne, Head of Mortgages ROI in Bank of Ireland, said:  ‘We are delighted to announce these rate reductions today.  In addition to our variable rate product suite, our fixed rates offer customers real value for money.  This is further demonstration of our commitment to supporting the Irish mortgage market and helping customers purchase a home.

In December 2011, to support customers purchasing their first home or moving home throughout 2012, we launched a Mortgage Fund of €1.5bn.  To date in the first months of 2012, we have received applications to the value of €528m from potential first time buyers and movers.’

Bank of Ireland Fixed Rates Old Rate New Rate Decrease
2 year for FTBs/Movers 4.75% 4.49% 0.26%
2 year fixed 4.95% 4.69% 0.26%
3 year for FTBs/Movers 5.05% 4.69% 0.36%
3 year fixed 5.30% 4.89% 0.41%
5 year fixed 5.70% 5.29% 0.41%
10 year fixed 6.19%

Bank of Ireland Mortgage Bank is a member of the Bank of Ireland Group. Bank of Ireland and Bank of Ireland Mortgage Bank, trading as Bank of Ireland Mortgages, are regulated by the Central Bank of Ireland

Ends         10 April 2012