Bank of Ireland Reduces its Homeland Fixed Mortgage Interest Rates
12-Dec-06Bank of Ireland has today (Tuesday 12th December 2006) announced interest rate decreases across its suite of homeloan fixed mortgage products. With rates moving upwards these new fixed rates offer tremendous value and provide protection against future rate increases.
The 1, 3, 4 and 5 year homeloan fixed mortgage products are now the best in the market.
The above changes are effective from start of business on Wednesday 13th December 2006. The new rates are applicable immediately for both new business and any business approved but not yet drawn down.
Commenting on the decreases Joe Larkin, Head of Personal Lending, Bank of Ireland said "These reduced fixed homeloan rates offer excellent value and peace of mind to customers, particularly at a time of interest rates moving upwards. We expect a good reaction from customers looking for the best in the market on fixed rates."
Homeloan - New Fixed Rates:
| Product | New/existing | Old rate | New rate | Change | New APR |
|---|---|---|---|---|---|
| 1 Year Fixed rolling to ECB + 1.25% | New | 4.45% | 4.09% | -0.36% | 4.76% |
| 2 Year Fixed rolling to ECB + 1.25% | New | 4.49% | 4.54% | 0.05% | 4.79% |
| 2 Year Fixed rolling to ECB + 1.25% | Existing | 4.79% | 4.75% | -0.04% | 4.84% |
| 3 Year Fixed rolling to ECB + 1.25% | New/Existing | 4.79% | 4.65% | -0.14% | 4.80% |
| 4 Year Fixed rolling to ECB + 1.25% | New/Existing | 4.85% | 4.69% | -0.16% | 4.81% |
| 5 Year Fixed rolling to ECB + 1.25% | New/Existing | 4.85% | 4.79% | -0.06% | 4.86% |
Date: 12th December 2006
For further information:
Sharon McDonnell,
Group Consumer Communications Manager
Bank of Ireland
Tel:01 604 3750
David Courtney
Head Of Market, Bank of Ireland Mortgages
Bank of Ireland
Tel:01 611 3230