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Mortgage and lump sum payments

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  • 05-07-2017 1:13pm
    #1
    clacks
    Registered Users Posts: 203 ✭✭


    Hi,
    I currently have a mortgage with you guys on a variable rate. If I decide to take a 3 year fixed rate, is there any penalty when it reverts to variable, and I want to pay a lump sum off the balance? 


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    #2
    Bank of Ireland: Nicola
    Closed Accounts Posts: 735 ✭✭✭Bank of Ireland: Nicola


    clacks wrote: »
    Hi,
    I currently have a mortgage with you guys on a variable rate. If I decide to take a 3 year fixed rate, is there any penalty when it reverts to variable, and I want to pay a lump sum off the balance?
    Hi clacks, thanks for getting in touch.

    This will depend on whether you're on a fixed rate or variable rate when you make the lump sum overpayment (a fee could apply if you want to pay a lump sum into your mortgage while on a fixed rate).

    We've some more information and an overpayment calculator on our website here.

    If you would like to have a chat with an adviser about your existing mortgage or if you want to check the charge for paying a lump sum during the fixed rate period, please call 01 611 3333.

    Let me know if you need anything else, thanks.
    Nicola


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