Bank of Ireland increase mortgage rates

Bank of Ireland will be increasing their mortgage interest rates from the 16th of April (Indo article by Charlie Weston here).

We have been advising people for longer than we care to remember to opt for a long term fixed rate if they are on a standard variable (people on trackers should not take the same decision lightly). The move comes as part of an overall shift towards repricing risk and ensuring that margins on loans are appropriate versus the market, the need for operational profit and to act as a buffer towards impairments which are arising as other borrowers who cannot pay fail to meet their mortgage obligations.

The increase will affect both existing and new customers, our guide and opinion is contained in a release we have prepared (click on the image to the left).

The only option presently available in our opinion for people on a variable rate mortgage with Bank of Ireland is …

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