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
Interest Rates

Bank of Ireland immediately raises interest rates by 0.25% for new fixed rate mortgages

Bank of Ireland says the move is ‘in light of recent interest rate increases by the European Central Bank’.

BANK OF IRELAND is set to raise interest rates by 0.25% for new fixed rate mortgages.

In a statement, Bank of Ireland says the move is “in light of recent interest rate increases by the European Central Bank”.

The ECB has raised interest rates three times this year and added that it would likely raise interest rates further in the future as part of plans to reduce overall inflation.

The new fixed-rates with Bank of Ireland are effective immediately, and apply to customers who draw down new mortgages from the Bank.

However, new customers who already have a written quote from the Bank for a lower fixed rate, and who draw down a new mortgage by 9 December, can still avail of the lower rate up to that date. 

Meanwhile, there will be no change to rates for existing mortgage customers, nor will there be any changes to existing variable or tracker rate mortgages.

Existing fixed-rate mortgage customers who may be coming to the end of their current fixed-rate period and are considering re-fixing, can also avail of these unchanged fixed rates.

Bank of Ireland’s statement notes: “As is the case with all rate matters, this approach will continue to be kept under review.”

Your Voice
Readers Comments
15
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
    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