Bank of Ireland Mortgage rate for <80%

arubap

Hi all,

Need your advice on this. I am soon to draw down a mortgage with Bank of Ireland that is less than 80% of the agreed house price. They are charging me the 4.6 % variable rate. Is this correct or should I be on a lower variable rate?

Thanks.

TheDriver

sounds like you are on a 1 year fixed rate of 4.6, you could go variable which is 4.4%

arubap

I agreed a variable rate and not to fix anything. Is the variable rate really still 4.4? I guess this is a mistake on their part?

L1011

From memory, BOI impose a first year fixed on a new mortgage.

killers1

arubap wrote: »

Hi all,

Need your advice on this. I am soon to draw down a mortgage with Bank of Ireland that is less than 80% of the agreed house price. They are charging me the 4.6 % variable rate. Is this correct or should I be on a lower variable rate?

Thanks.

The interest rate should be 4.3% with an APR of 4.4%. You are not obliged to take a fixed rate for any period of time.. It looks like they made a mistake & you should query it with them to ensure the correct details are issued on your loan offer

Bredafoley

That's very high

BOI are fine if u are able to make payments but if u fall €500 behind u will get threatening letters and phone calls be warned

BOI are the only bank not to offer long tern solutions

athtrasna

Mod note

OP this is more of a banking issue than a matter for this forum. We can move it to either banking or talk to bank of Ireland. Please pm me or one of the other A&P mods as to where you'd like it placed. The thread will be reopened on moving.