Advertisement

We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

Alamy Stock Photo

Bank of Ireland announces 0.5% cut to fixed rate mortages starting today

There is no change to the bank’s variable and tracker rates.

BANK OF IRELAND has announced a 0.5% cut to its fixed mortgage rates beginning today. 

The cut applies to new and existing customers and covers all homes with a Building Energy Rating (BER) from A to G. 

“The reduction announced today means that a 4-year fixed rate is available from as low as 3.1% (dependent on BER), representing an annual saving of approximately €1,000 on a €300,000 mortgage when compared to the previous 4-year fixed rates,” the bank said in a statement. 

Bank of Ireland also said it is introducing a new 1-year fixed-rate product (no cashback) with rates starting from 3.3% for mortgages of €250,000 and over.*

Alan Hartley, director of homebuying at Bank of Ireland, said the 0.50% cut “is being applied to our full suite of fixed rate products”. 

“These reduced rates are available to all new and existing customers from today and they apply all the way up and down the BER scale, not just to those homes with the best energy ratings.”

There is no change to the bank’s variable and tracker rates.

The bank has also announced two changes to its deposit offering from today, introducing a new 18-month ‘Advantage Fixed Term Deposit Account’ with an Annual Equivalent Rate (AER) of 2.98%. 

Bank of Ireland is also removing its 24-month fixed-term deposit with an AER of 2.96%.

Withdrawal of 25% of the savings balance is “access permitted during the term of the Advantage Fixed Term Deposit Account”, the bank said. 

 

 

Readers like you are keeping these stories free for everyone...
A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

Close
24 Comments
This is YOUR comments community. Stay civil, stay constructive, stay on topic. Please familiarise yourself with our comments policy here before taking part.
Leave a Comment
    Install the app to use these features.
    Mute Darth O'Leary
    Favourite Darth O'Leary
    Report
    Oct 30th 2024, 12:59 PM

    I think the old people that were gathered up from hospitals en masse and shoved into under resourced nursing homes to die alone, at the behest of NPHET, deserve an inquest, never mind an inquiry. This government seems to have forgotten about them. The actions of those who made this disastrous decision, potentially amount to criminal malfeasance IMO. Unfortunately, this all looks like a back patting exercise. More akin to a PR stunt than a proper analysis. I suppose this government aren’t going to start caring about our elderly citizens all of a sudden so no surprise to see the whitewash unfold

    303
    Install the app to use these features.
    Mute FlipBip
    Favourite FlipBip
    Report
    Oct 30th 2024, 12:48 PM

    Correcting their own homework

    231
    Install the app to use these features.
    Mute Martin Finnerty
    Favourite Martin Finnerty
    Report
    Oct 30th 2024, 1:04 PM

    Another Waste of Public Money. ” Lessons will be Learned ” will be the Tagline after all that.

    210
    Install the app to use these features.
    Mute Jim Ryan
    Favourite Jim Ryan
    Report
    Oct 30th 2024, 12:37 PM

    No wonder everything takes forever in Ireland . What with inquiries , Scoping Enquiries , reports , task forces , focus groups , commissions , study groups , tribunals .

    156
    Install the app to use these features.
    Mute Brendan O'Brien
    Favourite Brendan O'Brien
    Report
    Oct 30th 2024, 12:41 PM

    ‘we could be facing future pandemics in the future’ … well, we won’t be facing them in the past, Simon.

    128
    Install the app to use these features.
    Mute Charlie Arum
    Favourite Charlie Arum
    Report
    Oct 30th 2024, 1:20 PM

    Is it five years coming? Of course, no need to be in any hurry? It seems Government doesn’t care except when a General Election is in the offing.

    102
    Install the app to use these features.
    Mute Brian Martin
    Favourite Brian Martin
    Report
    Oct 30th 2024, 12:32 PM

    Is this realy necessary. Or just a waste of taxpayers money

    Maybe they just want a pat on the back for being so great

    79
    Install the app to use these features.
    Mute 087 bed
    Favourite 087 bed
    Report
    Oct 30th 2024, 12:35 PM

    Let’s hope whoever is appointed is safe and effective.

    55
    Install the app to use these features.
    Mute Niall English
    Favourite Niall English
    Report
    Oct 30th 2024, 12:24 PM

    have the warehoused taxes been repaid yet?

    50
    Install the app to use these features.
    Mute John F doe
    Favourite John F doe
    Report
    Oct 30th 2024, 1:02 PM

    @Niall English: they bloody well should be

    20
    Install the app to use these features.
    Mute John Farrant
    Favourite John Farrant
    Report
    Oct 30th 2024, 12:21 PM

    I can’t wait

    21
    Install the app to use these features.
    Mute Jack Hayes
    Favourite Jack Hayes
    Report
    Oct 30th 2024, 1:06 PM

    ‘Building health system resilience through policy development in response to COVID-19 in Ireland: From shock to reform’. Burke, Sara et al. The Lancet Regional Health – Europe, Volume 9, 100223

    18
Submit a report
Please help us understand how this comment violates our community guidelines.
Thank you for the feedback
Your feedback has been sent to our team for review.

Leave a commentcancel

 
JournalTv
News in 60 seconds