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Interest rate and apr

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  • 06-02-2016 12:02am
    #1
    piglets
    Registered Users Posts: 4 ✭


    Hi,

    I am just looking at mortage interest rates for existing customers on your website as I am thinking about changing from variable to fixed. For 1 Year Fixed LTV 61%-80% the interest rate is 3.6% but APR is 4.2%. Why the big difference?

     


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    #2
    Bank of Ireland: Sarah
    Closed Accounts Posts: 1,640 ✭✭✭Bank of Ireland: Sarah


    Hi piglets,

    Thanks for contacting us here on Boards.ie

    The interest rate displayed is what you will pay each year whereas the APR will include the interest as well the costs involved such as any fees and charges for the mortgage. If you would like to discuss this in more detail, would recommend calling our existing Mortgage team on 01 - 611 3333 and a representative will be happy to go through this with you.

    We also have Mortgage calculators on our website which you may find useful https://goo.gl/q8IxmY

    Please let us know if we can help with any other query.

    Thanks,
    Sarah


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