BANK OF IRELAND AND ICS BUILDING SOCIETY PASS ON 0.50% ECB REDUCTION

Bank of Ireland and ICS Building Society today (Thursday 5th March 2009) confirms that we will pass on the full ECB rate decrease of 0.50% across our Tracker, Standard Variable Rate and Variable LTV based mortgage products, for new and existing owner occupier homeloan customers.

Speaking about the reductions, Jonathan Byrne, Head of Mortgages & Loans, Consumer Banking, Bank of Ireland, said "We welcome this move by the European Central Bank, which we are passing on in full to our Variable owner occupier homeloan customers.

This is good news for potential home buyers. And together with our dedicated €1bn fund for first time buyers it is yet another positive step for those looking to buy their first home. We have a range of mortgage products both variable and fixed and all competitively priced, along with mortgage advisors in every branch, available and ready to work with customers on their particular mortgage requirements."

Ends 5th March 2009

For reference
Sharon McDonnell
Group Consumer Communications Manager
Bank of Ireland
Tel:01 604 3750

Bank of Ireland and Bank of Ireland Mortgage Bank, trading as Bank of Ireland Mortgages, are regulated by the Financial Regulator. Bank of Ireland Mortgage Bank is a member of the Bank of Ireland Group ICS Building Society is regulated by the Financial Regulator. ICS Building Society is a member of Bank of Ireland Group