Mortgages

At Bank of Ireland UK, we have a range of mortgage options to suit you whether you’re moving, investing, switching from another provider or buying your first home.

We have a range of mortgages to suit your circumstances.

If you’re looking for some hints and tips to help guide you through the mortgage process, have a look at the tabs below to find some helpful information.

Applying for your mortgage

Need advice?

If you want to get advice on what type of mortgage products are available, how much you can afford and whether you meet our requirements for a mortgage you can:

We’ll guide you through the application process, carry out an assessment of your needs and circumstances and recommend the most appropriate Bank of Ireland UK mortgage for you.

If you know which mortgage you want

If you’re sure that you want to choose your mortgage without receiving advice, you can apply for a mortgage online in your own time and at your own pace. Please be aware that if you choose to apply online without advice we will not give you any recommendations, so you must be confident in choosing the mortgage that is right for you.

For full details of our mortgage range download our rates guide:

Mortgage ratesViewPrint


1. Save your deposit

Saving for a deposit can take time but it will be worth it. We are always happy to chat through tips on the best way to save.

2. Find out how much you can borrow

You will need to know what you can afford before you start looking for the right home – chat to one of our mortgage advisers to find out more.

3. Apply for your mortgage

We will help you through your mortgage application. If it is successful you’re on the next exciting step! If your application is not successful this time don’t lose heart. There may be steps you can take to improve your chances of approval – e.g. a longer savings period or a reduced loan amount. We’ll be happy to talk you through your options.

4. Get a property valuation

We will instruct a valuer to carry out a valuation for mortgage purposes for Bank of Ireland UK. We always recommend that you get a surveyor’s report as well, for your own peace of mind which can uncover faults that aren’t easy to see. In some cases we may require that you get one, particularly if the house you’re buying is older.

5. Get your Letter or Offer and appoint a solicitor

We will send a Mortgage Offer pack to you and to your solicitor. It will contain your mortgage Offer, copy of the Mortgage Illustration, copy of the Mortgage Application submission, Acceptance Form, direct debit mandate, and Schedule of Charges.

6. Arrange home insurance & life cover

At this stage, you should arrange the appropriate life assurance and home (buildings) insurance policies to protect both you and the property. Buildings insurance must be in place before you can draw down your mortgage.

7. Exchange contracts and pay your deposit

Your solicitor and the seller’s solicitors will tie up the details and arrange for paying the deposit securely.

8. Draw down your mortgage

We will draw down your mortgage and issue the funds to your solicitor to complete the purchase.

Helping you onto the property ladder

We know it’s more than a mortgage. It’s about finding a home to call your own, your very own castle where you can decorate (and redecorate), have mates round and play music loud – somewhere you will pour your personality into.

The journey to owning your first home can be an emotional rollercoaster, we understand that and are committed to helping you find a mortgage that best suits your needs. We can provide you with an initial Agreement in Principle (AIP) once you provide some basic details. This will confirm the amount you can borrow and won’t affect your credit score. We are always here to answer questions and chat about options.

For more information on First Time Buyer options you can visit our main website here.

Re-mortgaging/Switching Mortgage Provider

If you’re thinking about staying in your home and switching from your current mortgage lender, we have a range of mortgages that may suit your needs. You could also borrow more for home improvements or help a close relative buy their first home.

Before you consider switching, you should check with your existing mortgage provider to see whether there are any Early Repayment Charges or fees that you’ll have to pay if you leave them. If you decide to go ahead, you should also consider how potential future rate changes may affect you, including the rate that you revert to once your potential rate ends and any increases in the Bank of England Base Rate or in our Standard Variable Rate.

For more information you can visit our website by clicking on the link below;
https://www.bankofirelanduk.com/mortgages/remortgaging/overview/

Taking out a mortgage is one of the biggest financial commitments, so it makes sense to get help from the experts. We can help you every step of the way when you’re moving home.

Helpful hints for moving home

  • Before you start looking for a new home, us to get an idea of the amount you can borrow. Our advisers can the guide you through each stage of the application process.
  • You will need a solicitor when you’re buying and selling a home to complete the legal work on your behalf. They will carry out the legal searches and deal with your bank and the seller of the property you’re buying. Your solicitor will also deal with the sale of your current house. The can take some time so you might want to have a plan in case there’s a delay between selling your current house and buying your new home.
  • Once you have found your dream home, then we can complete an application with you and recommend which of our mortgage products is best for you. We will then arrange for the new property to be valued. If the application is approved and we have all the required documents in place, we will then issue a formal letter of offer to you and your solicitor.
  • Once you have contracts for sale signed, let us know. Your solicitor will keep you in touch with us and advise us when the contracts are all in order and signed and confirm the date you are due to move in. We will then transfer the mortgage funds to your solicitor on this date so you can get your new keys and move in.

For more information you can visit our website by clicking on the link below;
https://www.bankofirelanduk.com/mortgages/moving-home/overview/

Whether you’re a first time landlord or an experienced property investor, we have Buy to Let mortgages designed for you. You can apply by phone or online.

Bank of Ireland UK does not provide any recommendation or advice in relation to Buy to Let mortgages.

The affordability of a Buy to Let mortgage is primarily based on the expected monthly income generated from letting the property to a tenant. The actual income generated may be different and can be influenced, over time, by changes within the rental market. You will remain responsible for meeting the costs of your loan and the additional costs associated with letting the property.

  • You can have up to three Buy to Let mortgaged properties with any lender, including Bank of Ireland Group. The properties can be solely or jointly owned, including properties that are owned in the name of a limited company that you, the applicant are a director of.
  • You can borrow up to 75% loan to value.
  • Unlike a residential mortgage, the amount you can borrow is based upon the expected rental income rather than your personal income.

A ‘Receiver of Rent’ may be appointed and/or the property may be repossessed if you do not keep up repayments on your mortgage
For more information you can visit our website by clicking on the link below;
https://www.bankofirelanduk.com/mortgages/buy-to-let/overview/