Bank of Ireland to impose second mortgage rate rise but deposit rates up too….
Fixed rates for new customers are to go up by 0.75 percentage points immediately. That move will add €125 to monthly repayments for a first-time buyer getting a €300,000 mortgage.For existing customers of the bank coming to the end of a fixed rate, the rise is 0.5 percentage points. This includes customers who are coming to the end of their fixed-rate period and are seeking to re-fix their mortgage, and tracker rate or variable rate customers who wish to move to a fixed rate.
Note : Below are extracts from an article published by The Irish Independent (24th January 2023) as referenced below.Weston Bank of Ireland to increase its mortgage V2 rates againArticle 24-01-2023
Whether you are looking to switch lender currently, keen to switch to a suitable fixed rate, are a first time buyer or moving home and should you have any concerns about the issues raised in this article, or investing in a buy-to-let property, why not chat to a Seaspray Mortgage adviser today about finding the mortgage or rate that’s right for you:
Seaspray Financial Services Ltd trading as Seaspray Mortgages is regulated by the Central Bank of Ireland with registered number C165527
Weston, C. (2022) ‘Homeowners hit by rate rise as Permanent TSB raises interest on fixed rate mortgages’, Irish Independent, 18 November. Available at : https://www.independent.ie/irish-news/homeowners-hit-by-rate-rise-as-permanent-tsb-raises-interest-on-fixed-rate-mortgages-42153755.html
(Accessed 24 January 2023).