Temporary switch to interest only request

You can find this in your hub, on your mortgage statement or mortgage Offer.

We’ll post you a letter which you’ll need to sign and return to us. This will confirm you’re happy with the temporary switch to interest only payments for six months and the new monthly payment. To save time, tell us your email address and we’ll send you a link so you can upload your signed letter.

1. Bank of Ireland UK hasn't recommended this option for me, and I’ve read the Execution Only Disclosure (PDF).

2. I've read the information on the Bank of Ireland UK website and know how a temporary switch to interest only will affect me.

3. I'm applying for help with my residential mortgage and my mortgage payments are up to date.

4. I can only apply for a temporary switch to interest only payments once.

5. My mortgage will automatically go back on to repayment once the six months on interest only has ended.

6. I won't pay anything to reduce my mortgage balance during the six-month interest only period. This means:

(i) My monthly payment will be higher once I go back on to repayment.

(ii) I'll pay more interest overall so the cost of my mortgage will be more.

7. I and any joint borrower must sign a letter from Bank of Ireland UK, giving my/our written consent to switch the mortgage to interest only for six months.

You can arrange a callback to speak to us if you have any questions or need something explained.