Best loans in Ireland in 2018!

Bank of Ireland - description of the lender

Loan amount

up to 3.5x your gross annual income

Loan term

up to 35 years

Company

At Bank of Ireland, if you are a First Time Buyer, Mover, Switching your Mortgage to Bank of Ireland or an Investor, Bank of Ireland will give you an unlimited 2% of the value of your mortgage back in cash.

Interest

You can choose from Bank of Ireland’s range of competitive fixed and variable rate options. The rates vary depending on the amount of your loan relative to the property value.

Max. APR 5.4 %

Representative example

A typical mortgage to buy your home of €100,000 over 20 years with 240 monthly instalments costs €615.79 per month at 4.2% variable (Annual Percentage Rate of Charge (APRC) 4.3%). APRC includes €150 valuation fee and mortgage charge of €175 paid to the Property Registration Authority. The total amount you pay is €148,114.60. A 1% interest rate rise would increase monthly repayments by €54.02 per month.

Application processing time

Bank of Ireland approves mortgage applications in 24 hours (24 hours means next working day and complex cases can take a bit longer), and our approvals are formal approvals after a full credit assessment - not approval in principle.

Documents required

  • - ID documents for all parties to the mortgage - a Passport or Driving licence and a utility bill to confirm current permanent address.
  • - PAYE applicant also need to provide their most recent (original) P60, last 3 months’ payslips and (if not with Bank of Ireland) last 6 months’ bank statements .
  • - Self-employed applicants - last 2 years’ certified/audited accounts and (if not with Bank of Ireland) last 6 months’ business bank account statements.
  • - Self-build applicants - a Fixed Price contract or detailed building costings.

Important

Arrears - Interest Surcharge:
  • - If you do not pay a repayment instalment or other sum of money by the date you are due to pay it, bank may charge you a default interest rate of 0.5 % per month or part of a month (which is 6% per year) on the unpaid sum. This default interest is added to normal interest.
  • - Bank do not charge borrowers default interest when they are in a Mortgage Arrears Resolution Process under the Central Bank’s Code of Conduct on Mortgage Arrears and are co-operating reasonably and honestly with Bank.

Warnings:
  • - If you do not keep up your repayments you may lose your home.
  • - If a Mortgage rate is variable: the cost of your monthly repayments may increase, you may have to pay charges if you pay off a fixed–rate loan early.
  • - If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.
  • - If a Mortgage is being used for debt consolidation purposes: the entire amount that you have borrowed will still be outstanding at the end of the interest-only period.
  • - If you repay your Mortgage early when you are on a variable rate of interest, Bank charge no redemption fee.
  • - If you repay Mortgage early when you are on a fixed rate of interest, or change to another rate within your fixed rate period, you may have to pay an additional funding fee. This funding fee is compensation for the additional interest expense that the Bank may incur as a result of a customer breaking their fixed rate contract. If there is no additional interest expense incurred by the Bank no compensation will be required.

Fees:
  • - You will need to pay legal fees to your own solicitor, which you need to agree with him or her as part of your own arrangement. This does not include costs associated with the Bank’s legal investigation of title for the purpose of the Mortgage.
  • - Accountable trust receipt: 63 €. You will need to pay this fee to the Bank where your solicitor requests the Title Deeds from the Bank on your behalf. The fee does not apply where a customer seeks additional funds on the same security.
  • - Security Perfection Fee for Equity Release: 600 €. This fee covers the Bank’s legal expenses where the Bank agrees to handle an Equity Release loan without the need for a customer to engage his/her own solicitor.

Office hours

Monday-Friday 8:00-20:00

Address

Head Office: 40 Mespil Road, Dublin 4, Ireland

Additional information

Phone: 0818 200 339

Other offers

Maximum loan amount
up to 3.5x your gross annual income
Maximum loan term
up to 35 years
APR
4.3 %
Minimum age
18 years
Loan granting
Excellent
Online application
Apply now personalbankin...
Documents required:
  • - ID documents (Passport or Driving licence);
  • - PAYE applicant;
  • - Self-employed applicants;
  • - Self-build applicants.
Representative example: Mortgage Amount 100 000 €, Mortgage Term: 20 years, Monthly repayment: 615.79 €, APR:4.3 %. APRC includes 150 € valuation fee and mortgage charge of 175 € paid to the Property Registration Authority. The total amount you pay: 148,114.60 €. The cost of monthly repayments may increase. A 1% interest rate rise would increase monthly repayments by 54.02 € per month.
Minimum loan amount
1000 €
Maximum loan amount
220000 €
Maximum loan term
up to 35 years
APR
2.81 %
Minimum age
18 years
Loan granting
Good
Online application
aib.ie
Requirements:
  • - you must be at least 18 years old;
  • - security may be required.
Representative example: Loan Amount 100 000 €, Term: 20 years for an Owner Occupier Residential Property with LTV < 50% will have a variable interest rate 2.75 %, APRC: 2.81 %, monthly repayment: 541.86 €.
If the interest rate does not vary during the term of mortgage, total cost of credit would be 30 320.44 € (inclusive of 215 € valuation report fees and security release fee of 60 €). Total amount repayable: 130 320.44 €. The effect of a 1% increase in interest rates for such a mortgage will add 50.43 € to the monthly repayments.
Minimum loan amount
200000 €
Maximum loan amount
600000 €
Maximum loan term
over 30 years
APR
4.01 %
Minimum age
18 years
Loan granting
Good
Online application
permanenttsb.ie
Requirements:
  • - You must be over 18 to apply for a loan.
  • - Security may be required.
Representative example: Loan Amount 100 000 €, Term: 20 year, Monthly repayment: 616.57 €, Total cost of credit: 650.60 €, Total amount repayable 147 976.80 €, Variable borrowing rate: 4.20%.
If interest rates increases by 1% an additional 54.48 € would be payable per month, APRC of 4.32 % applies and consists of variable borrowing rate of 4.20 %, Valuation fee: 130 €, Property Registration Authority fee: 175 €, Security vacate fee: 35 €.
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