BoI Mortgage Rate Reduction

Calculator123

Hello,

Can you give any guidance as to when BoI will reduce mortgage rates. As they are considerably higher than other banks and the cost of lending is cheap, it would be greatly appreciated during these challenging times if we as loyal BOI customers got some relief

Bank of Ireland: Richard F

Hi Calculator123,

Thanks for checking this with us today.

We appreciate your interest in this. We would not have an update on this at the moment. We’ll be sure to pass your interest in this on to our Mortgage Specialists.

You can certainly request a new Mortgage rate on the below link:
https://personalbanking.bankofireland.com/borrow/mortgages/articles/existing-customer-want-to-change-the-interest-rate-on-your-mortgage/

Many thanks,
Richard

Tfgfguhhhg

Hi. Is there any chance there is an update on any reduction in BOI mortgage rates. I visited a financial advisor in relation to another issue during the week and he asked about my mortgage. When I told him I was coming out of a BOI fixed rate in the coming months he told me to (RUN) switch my mortgage and our current accounts. He said I would be mad to stay with the bank with the rates on offer. Also when I informed him of the new current account charges myself and my wife pay on our accounts he laughed at us. (both of us always kept €3000 in our accounts before the nee charges). We would prefer to stay with BOI so just wondering if there is any change
Thanks
Brian

Bank of Ireland Reps

Tfgfguhhhg wrote: »

Hi. Is there any chance there is an update on any reduction in BOI mortgage rates.  I visited a financial advisor in relation to another issue during the week and he asked about my mortgage.  When I told him I was coming out of a BOI fixed rate in the coming months he told me to (RUN) switch my mortgage and our current accounts. He said I would be mad to stay with the bank with the rates on offer. Also when I informed him of the new current account charges myself and my wife pay on our accounts he laughed at us. (both of us always kept €3000 in our accounts before the nee charges).  We would prefer to stay with BOI so just wondering if there is any change
Thanks
Brian

Hi Brian,

Thanks for getting in touch with us here today. To discuss mortgage rates we would recommend that you contact our mortgage team directly on 016113333 and our colleagues would be happy to assist with this. The team is available 9am to 5 pm Monday to Friday. 

The changes to the fees and charges mean that over 26 different fees and charges where eliminated and replaced with a flat rate monthly fee of €6 meaning all customers will pay the same regardless of what is in the account.

We hope this helps.

Thanks Jen

Tfgfguhhhg

Bank of Ireland Reps wrote: »

Hi Brian,

Thanks for getting in touch with us here today. To discuss mortgage rates we would recommend that you contact our mortgage team directly on 016113333 and our colleagues would be happy to assist with this. The team is available 9am to 5 pm Monday to Friday. 

The changes to the fees and charges mean that over 26 different fees and charges where eliminated and replaced with a flat rate monthly fee of €6 meaning all customers will pay the same regardless of what is in the account.

We hope this helps.

Thanks Jen

Thanks for replying Jen.

I will take that as a no to any possible rate reductions.

In relation to the changes to fees etc you mention I guess there will always be winners and losers. In this case as I said we had no fees as we each kept €3000 in our accounts. What it means is we have been hit with a €12 euro fee each month (€6 each).

In essence what the financial advisor said was correct. Staying with BOI means we will pay some of the most expensive mortgage rates going forward and with the extra kick of the banking fees we have an easy decision to make.

Thanks for clarifying

Brian

Bank of Ireland Reps

Tfgfguhhhg wrote: »

Bank of Ireland Reps wrote: »

Hi Brian,

Thanks for getting in touch with us here today. To discuss mortgage rates we would recommend that you contact our mortgage team directly on 016113333 and our colleagues would be happy to assist with this. The team is available 9am to 5 pm Monday to Friday. 

The changes to the fees and charges mean that over 26 different fees and charges where eliminated and replaced with a flat rate monthly fee of €6 meaning all customers will pay the same regardless of what is in the account.

We hope this helps.

Thanks Jen

Thanks for replying Jen.

I will take that as a no to any possible rate reductions.

In relation to the changes to fees etc you mention I guess there will always be winners and losers.  In this case as I said we had no fees as we each kept €3000 in our accounts. What it means is we have been hit with a €12 euro fee each month (€6 each).

In essence what the financial advisor said was correct. Staying with BOI means we will pay some of the most expensive mortgage rates going forward and with the extra kick of the banking fees we have an easy decision to make.

Thanks for clarifying

Brian

The rate applied to the mortgage account would be specific to the terms and conditions of the account and this would need to be discussed with the mortgage team directly. The team will be available from 9am Monday morning and would be happy to discuss this further with you.

Have a lovey weekend.

Thanks Jen