Mortgages from Bank of Ireland
Ireland’s oldest bank, Bank of Ireland, offers a range of mortgages for all house buyers. Cashback mortgages, green mortgages and flexible payment options all make BOI a popular choice for first-time buyers, switchers and movers alike.
What mortgages do Bank of Ireland offer?
Bank of Ireland offer a range of mortgages to suit all types of borrower.
- First Time Buyer: BOI offers expert guidance for people buying their first home plus some great incentives to get you started including a Mortgage Saver Bonus and Cashback Plus.
- Movers: BOI aims to reduce the stress of moving home, so offer a range of mortgages including the option to retain your tracker mortgage and mortgages for those in negative equity.
- Switcher: Alongside competitive fixed rates, BOI offers attractive incentives to switch your mortgage to them, including cashback on drawdown and flexible repayment terms.
- Buy to Let: BOI is one of the only mortgage lenders to offer their cashback scheme to investors plus a range of flexible mortgage options, like payment holidays.
- Self-Build: BOI offers guidance around regulation and financing your build, plus design and planning tips to support you throughout your self-build project.
- Green Mortgages: If your house has a Building Energy Rating (BER) of B3 or better, you can benefit from a 0.30% discount on their 1, 2, 3, 5 and 10 year fixed-rate mortgages or a rate as low as 2% if you take a high-value mortgage for 4 or 7 years.
No matter what type of borrower you are, it’s best to compare Bank of Ireland mortgages rates with what’s on offer from other lenders too.
Why get a mortgage with the Bank of Ireland?
The Bank of Ireland has competitive rates, generous incentives and support for every step of your homeowner journey. Here are just some of the reasons to choose the Bank of Ireland for your mortgage:
- Cashback Plus: 2% mortgage cashback plus 1% for current account customers
- Flexible mortgage options: Flex your mortgage to suit your circumstances
- Green mortgages: Discounted rates for energy-efficient homes
- MortgageSaver Bonus: Generous €2,000 cash bonus on savings for first-time buyers
- Expert advice & innovative support: Talk to lending specialists online or face to face, listen to podcasts and access a great selection of helpful guides
Bank of Ireland Cashback Plus up to 3%
Get 2% of your mortgage back as cash upfront plus an extra 1% cashback after 5 years.
Bank of Ireland mortgage offers in focus
Bank of Ireland have several unique incentives for borrowers; we’ve highlighted the best ones:
Cashback Plus mortgages
This cashback mortgage scheme is one of the most generous on the market and it’s available with a range of competitive variable and fixed mortgage rates.
If you draw down your mortgage with the Bank of Ireland, they will give 2% of your new mortgage back as cash upfront. The scheme is available for:
- First time buyers
- Home movers
- Switchers
- Buy to let investors
- Self-builders
Plus, you could get an extra 1% after 5 years if you’re a Bank of Ireland current account customer buying a home or switching your mortgage.
The extra 1% Cashback Plus is subject to meeting the conditions of the mortgage and is available to Bank of Ireland current account customers who drawdown their new mortgage before 31 December 2021. The cashback offer is not available with the High Value Mortgage fixed interest rate.
Green mortgages
The Bank of Ireland offers a highly competitive green mortgage range to support the move towards a lower carbon future.
Discounted green rates are available to people buying homes with a Building Energy Rating (BER) of B3 or better. If your home qualifies you could be eligible for:
- A discount of 0.3% on standard mortgage rates for 1, 2, 3, 5 and 10 year fixed term loans, or
- A 4 year fixed rate at 2.30% and a 7 year fixed rate at 2.55% for high-value mortgage loans over £300,000.
The green mortgage discount of 0.30% can also be applied to the high-value mortgage loans, which means you could benefit from a 4 year fixed term rate of 2% or a 7 year rate of 2.25%.
MortgageSaver Bonus
If you’re a first-time buyer you may qualify for €2,000 MortgageSaver Bonus Interest on your savings. To qualify you must:
- Be a first-time buyer and have a personal current account in the Republic of Ireland.
- Save a minimum of €200 per month for at least 6 consecutive months in a MortgageSaver Account.
- Use the money saved in your MortgageSaver account to purchase your first home.
- Drawdown a BOI First Time Buyer mortgage within 30 months of opening your MortgageSaver account.
The bonus interest will be a fixed payment of €2,000. It will be made available once you have €5,000 or more saved in your MortgageSaver account and you drawdown the mortgage.
Mortgage Flexi-Options
Bank of Ireland offers a range of flexible mortgage terms. For instance, you can:
- Take a 3 month payment break
- Skip up to two payments in a year
- Overpay your mortgage
- Change your payment date
- Split your mortgage rate
More from Bank of Ireland
Bank of Ireland (BOI) is one of Ireland’s Big Four banks offering a broad range of financial services for personal and commercial customers. With 250 branches nationwide, they offer mortgages, loans, savings and insurance services amongst other banking products.
Bank of Ireland Group plc is a public limited company incorporated in Ireland. Bank of Ireland Group plc is the holding company of Bank of Ireland and is regulated by the Central Bank of Ireland.
Compare mortgage rates & deals
Find the best first time buyer and home mover mortgage deals in Ireland using our comparison.
Bank of Ireland Mortgages FAQs
Can I get cashback on a Buy to Let mortgage from Bank of Ireland?
Yes, you can benefit from the 2% cashback offer if you are a buy to let investor. However, you will not qualify for the additional 1% cashback offered with Cashback Plus.
What documents do I need to apply for a Bank of Ireland mortgage?
All applicants:
- Last 6 months personal current account statements
- Last 12 months savings account statements showing build-up of funds
- Statements showing your last 12 repayments for any existing mortgage held with another financial institution
- Statements for recent loans (open and closed)
- Proof of your identity such as a passport or a driving licence
PAYE employees:
- Your Pay-slips for the last 2 months
- Salary Certificate (a standard form provided by the Bank for completion by your employer)
Self Employed:
- Your last two years’ certified/audited accounts
- Last 6 months business bank account statements
- Other documents may be required if your business is not established for a full 2 years or if you are a sole trader or self-assessed
What is a High Value Mortgage (HMV)?
The Bank of Ireland High Value Mortgage fixed interest rate is available to borrowers needing a mortgage for €300,000 or more.
It’s available if you draw down a new mortgage before 31 December 2021 and you’re buying or building a property to live in as your home or are switching your mortgage loan to the Bank of Ireland from another mortgage lender.
What is a Split Mortgage rate?
Also known as a ‘twin rate mortgage’ you can put a portion of your mortgage on a fixed rate and the remainder on a variable rate.
It’s useful if you want to benefit from the stability of a fixed rate and the flexibility of variable rate. You can decide the split ratio.
What's the longest fixed term rate the Bank of Ireland offers?
The Bank of Ireland offers a range of fixed rate options ranging from 12 months to 10 years.
This means you can fix the interest rate on your mortgage for up to 10 years which is ideal if you want certainty over your monthly payments in future.
