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Bank of Ireland increases on fixed mortgage rates to take effect from today

The bank’s fixed mortgage rates for new and existing customers will increase by 0.5%.

BANK OF IRELAND has today announced that it is raising fixed mortgage rates to new and existing customers.

In a statement, Bank of Ireland said this follows cumulative increases of 3.5% in European Central Bank rates since July of last year.

From today, the bank’s fixed mortgage rates for new and existing customers will increase by 0.5%.

It affects customers who are coming to the end of their fixed rate period and seeking to re-fix their mortgage, as well as tracker rate or variable rate customers who wish to move to a fixed rate.

However, variable rates and tracker rates remain unchanged. 

Bank of Ireland added that applicants who already have a credit approval and who draw down their mortgage by 5 May can still avail of the previous fixed rates.

The bank is also introducing a new term deposit account for its business customers.

On 18 April, Bank of Ireland will launch a new one-year term deposit account for business customers at 0.5%, which will be capped at €250k

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