New mortgages with Bank of Ireland are set to become more expensive

The bank has announced a 0.75% increase from today for new customers who have yet to get mortgage approval.

However, people who’ve already been approved with the bank, have until the 21st of February to drawdown their home loan if they have previously agreed a lower rate.

Head of Communications at Bonkers.ie, Daragh Cassidy, says new mortgage customers are facing higher monthly repayments:

“This is going to obviously make mortgage repayments more expensive. It’s going to hit first time buyers I think particularly badly because they are now being faced with record property prices really, or property prices that are back at close to record levels, and now increased mortgage repayments on top of that.”


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