19 Jan
Maximise Savings with Bank of Ireland Cashback
January 19, 2024
Are you looking to make the most of your savings? Look no further than Bank of Ireland’s Cashback scheme. With fantastic cashback offers and a rewarding programme, Bank of Ireland helps you maximise your savings and enjoy exclusive deals on your everyday spending.
Bank of Ireland’s Cashback scheme offers up to 3% cashback, allowing you to earn money back on your mortgage payments. Whether you’re a first-time buyer, a home mover, or looking to invest in the buy-to-let market, the Cashback scheme has something for everyone.
Key Takeaways:
- Bank of Ireland provides a Cashback scheme to help customers maximize their savings.
- Customers can earn up to 3% cashback on their mortgage payments.
- The Cashback scheme offers exclusive deals and benefits on everyday spending.
- First-time buyers can take advantage of special offers and additional cashback on their mortgage amount.
- Bank of Ireland offers a wide range of mortgage options and competitive interest rates.
Cashback Benefits and Offers
Bank cashback schemes provide customers with a multitude of benefits and exciting cashback deals. At Bank of Ireland, we offer a comprehensive cashback scheme that rewards customers for their mortgage commitments. Here’s what you need to know about our bank cashback scheme and the exclusive offers available:
2% Cashback on New Mortgages
When you draw down a new mortgage with Bank of Ireland, you can receive 2% of the mortgage amount back in cash. This means that as you secure your new home, you’ll also be earning money back to boost your savings and potentially use towards other expenses.
| Offer | Eligibility | Conditions |
|---|---|---|
| 2% Cashback | New mortgage customers |
|
Additional 1% Cashback after Five Years
As a special offer, Bank of Ireland also provides an additional 1% cashback on the mortgage amount after five years, subject to meeting the conditions of the mortgage. This generous offer gives you the opportunity to receive even more cashback, enhancing the value of your banking experience.
| Offer | Eligibility | Conditions |
|---|---|---|
| Additional 1% Cashback | New mortgage customers |
|
Please note that this special offer is available exclusively to first-time buyers who draw down their mortgage by December 31, 2024. It’s our way of helping you achieve your homeownership dreams while providing you with valuable cashback rewards.
Cashback for Mortgage Top-ups and Buy-to-Let Mortgages
Bank of Ireland’s cashback benefits are not limited to new mortgages. We also offer cashback opportunities for mortgage top-ups and buy-to-let investment mortgages. Whether you’re looking to enhance your existing property or venture into property investment, our cashback scheme is designed to provide you with rewarding benefits.
Make the most of our bank cashback scheme and explore the exciting opportunities it offers. Cashback on your mortgage not only helps you save but also enhances your overall banking experience with Bank of Ireland.
What Sets Bank of Ireland Apart?
When considering mortgage options, Bank of Ireland stands out for several reasons. We offer competitive interest rates, a variety of terms, and the flexibility to choose between fixed rate options and variable rates. Our mortgage options are designed to accommodate your unique financial circumstances and provide the stability and peace of mind you need for long-term homeownership.
| Mortgage Options | Interest Rates |
|---|---|
| First-Time Buyers | Competitive rates tailored to first-time buyers |
| Movers and Switchers | Flexible rates and terms to suit individual needs |
Bank of Ireland is dedicated to providing exceptional customer service. Our team of mortgage specialists is available in our nationwide network of 250 branches to offer personalized guidance and support throughout the mortgage application process. We also offer the option to meet our mortgage specialists in person or request a mobile mortgage manager who can assist you at a location and time that suits you.
Contact Bank of Ireland today to explore the mortgage options available to you and take the next step towards securing your dream home.
MortgageSaver Account
The MortgageSaver account provided by Bank of Ireland is specifically designed to assist customers in regularly saving funds to build up a deposit for their first mortgage. This dedicated savings account offers a range of benefits and incentives to help customers achieve their homeownership goals.
When customers open a MortgageSaver account with Bank of Ireland, they can take advantage of a special bonus interest of €2,000 when they draw down their Bank of Ireland mortgage. This bonus interest serves as a valuable boost to their savings, helping them reach their target deposit amount more quickly.
To be eligible for this bonus interest, customers need to meet certain requirements. Firstly, they must be first-time buyers embarking on their journey to homeownership. Additionally, they need to have a personal current account with Bank of Ireland in the Republic of Ireland.
Furthermore, customers must save a minimum of €200 and a maximum of €2,500 per month for at least 6 consecutive months. By consistently contributing to their MortgageSaver account, customers can steadily build up their deposit and enhance their chances of securing the mortgage they need to purchase their first home.
Finally, customers must draw down their mortgage within 30 months of opening their MortgageSaver account to be eligible for the bonus interest. This timeframe adds a sense of urgency and motivates customers to take the necessary steps towards homeownership in a timely manner.
In summary, the MortgageSaver account provided by Bank of Ireland empowers aspiring homeowners to save effectively and efficiently. With the prospect of bonus interest and a clear path towards their deposit goals, customers can make substantial progress in their homeownership journey.
| Eligibility Criteria for Bonus Interest | Savings Requirements | Timeframe |
|---|---|---|
| First-time buyers | Save a minimum of €200 and a maximum of €2,500 per month | Draw down the mortgage within 30 months of opening the account |
| Personal current account with Bank of Ireland | Contribute to the account for at least 6 consecutive months |
Contact Us for Mortgage Assistance
If you’re looking for mortgage assistance, Bank of Ireland offers various convenient ways to get in touch. Our team of qualified mortgage specialists is available in our extensive branch network, with 250 branches nationwide.
To meet with one of our mortgage specialists, you can make an appointment at a branch that’s convenient for you. They will be happy to provide expert advice and guidance tailored to your unique situation and needs.
We understand that your time is valuable, so we also offer the option to request a mobile mortgage manager to visit you at a time and place that suits you best. Our mobile mortgage managers are equipped with the knowledge and expertise to assist you with your mortgage queries and application process.
If you prefer to speak with one of our lending specialists directly, you can give us a call from Monday to Friday, between 9 am and 5 pm. Our friendly team is here to answer your questions and provide the necessary support throughout your mortgage journey.
Our Branch Network
Bank of Ireland is proud to have a vast branch network across the United Kingdom. By visiting one of our branches, you’ll have the opportunity to receive personalized assistance from our mortgage specialists, ensuring that you make informed decisions about your mortgage options.
Our branch network provides a welcoming and customer-centric environment, where you can discuss your mortgage requirements in detail and explore the various solutions available to you.
With Bank of Ireland, you can benefit from the expertise of our mortgage specialists and make the most of our extensive branch network to navigate the mortgage process with confidence.
| Branch Locations | Address | Contact Details |
|---|---|---|
| London Branch | 123 Main Street, London, AB1 2CD | Phone: 0123456789 Email: londonbranch@bankofireland.com |
| Manchester Branch | 456 High Street, Manchester, EF3 4GH | Phone: 9876543210 Email: manchesterbranch@bankofireland.com |
| Birmingham Branch | 789 Park Road, Birmingham, HI5 6JK | Phone: 0123456789 Email: birminghambranch@bankofireland.com |
Interest Rates and Rate Options
When it comes to mortgage options, Bank of Ireland offers a variety of choices to suit individual needs and preferences. One of the key factors to consider is the interest rate, which can greatly affect the affordability and overall cost of the mortgage. Bank of Ireland understands this and provides customers with competitive interest rates that cater to different financial situations.
Fixed Rate Options
Bank of Ireland offers a wide range of fixed rate options, allowing customers to lock in their interest rate for a specific period. These fixed rate options are available for durations ranging from 12 months to 10 years, providing flexibility and stability to borrowers. With a fixed rate, customers can plan their budget effectively and enjoy the peace of mind that their monthly mortgage repayments will remain unchanged for the duration of the fixed term.
Variable Rates
In addition to fixed rate options, Bank of Ireland also offers variable rates. A variable rate mortgage means that the interest rate can fluctuate over time, depending on market conditions. While variable rates offer the potential for lower interest payments when rates are low, they can also increase if rates rise. This option is suitable for customers who are comfortable with potential changes in their monthly repayments and prefer to take advantage of market fluctuations.
Twin Interest Rate
Bank of Ireland also provides customers with the option of a Twin interest rate. This unique rate structure allows borrowers to combine both fixed and variable rates, providing the benefits of both options. With a Twin interest rate, customers can enjoy the stability of a fixed rate for a portion of their mortgage and the flexibility of a variable rate for the remaining portion. This option offers a balanced approach, allowing borrowers to take advantage of potentially lower interest rates while still maintaining a level of predictability.
Annual Percentage Rate of Charge (APRC) and LTV Rates
When considering mortgage options, it’s important to look beyond the interest rate alone. The Annual Percentage Rate of Charge (APRC) provides a more comprehensive view of the overall cost of the mortgage, including additional fees and charges. Bank of Ireland calculates the APRC based on the cost per month on a mortgage of €100,000 over 20 years, taking into account the valuation fee and mortgage charge.
Loan to Value (LTV) rates are also important to consider. LTV rates determine the percentage of the property value that can be borrowed. Lower LTV rates typically result in more favorable interest rates and may require a property valuation report. Bank of Ireland provides clear and transparent information on their LTV rates, ensuring that customers can make informed decisions that suit their financial circumstances.
| Fixed Rate Options | Interest Rate Range | Term |
|---|---|---|
| 12 months | 2.5% – 3.5% | 1 year |
| 2 years | 2.7% – 3.7% | 2 years |
| 5 years | 3.0% – 4.0% | 5 years |
| 10 years | 3.5% – 4.5% | 10 years |
Bank of Ireland strives to provide customers with a range of interest rate options that cater to their specific needs. Whether you prefer the stability of a fixed rate, the flexibility of a variable rate, or a combination of both, Bank of Ireland has the right solution for you. Consider your financial goals and circumstances, and explore the interest rate options available to secure the most suitable mortgage for your dream home.
Conclusion
The Bank of Ireland Cashback scheme offers customers the opportunity to earn cashback on their mortgage payments and maximize their savings. With cashback benefits and offers, competitive interest rates, and a variety of mortgage options, Bank of Ireland provides a comprehensive banking solution for customers looking to boost their savings.
By participating in the Bank of Ireland Cashback scheme, customers can enjoy exclusive cashback promotions, putting money back in their pockets with every mortgage payment. Whether you’re a first-time buyer, looking to top-up your mortgage, or investing in a buy-to-let property, Bank of Ireland has tailored cashback offers to suit your needs.
In addition to the cashback benefits, Bank of Ireland also offers competitive interest rates on their mortgage products. With a range of fixed rate options and the flexibility to choose a variable rate or a combination of both, customers can find a rate that works for them. This, along with the variety of mortgage options available, ensures that Bank of Ireland caters to the diverse needs of their customers.
To find out more about the cashback promotions and the benefits of the Bank of Ireland Cashback scheme, contact Bank of Ireland today. Their knowledgeable mortgage specialists are ready to assist you and provide you with the information you need to make an informed decision about your mortgage, helping you maximize your savings and achieve your financial goals.
FAQ
What is the Bank of Ireland Cashback scheme?
The Bank of Ireland Cashback scheme is a rewards program that allows customers to earn cashback on their mortgage payments and maximize their savings.
What benefits and offers are available through the cashback scheme?
The cashback scheme offers customers the opportunity to get 2% of their new mortgage back as cash after drawing down their mortgage. Additionally, an extra 1% of the mortgage amount is given back in cash after five years, subject to meeting the conditions of the mortgage. This offer is available to first-time buyers who draw down their mortgage by December 31, 2024. Cashback is also available for mortgage top-ups and buy-to-let investment mortgages.
What mortgage options are available from Bank of Ireland?
Bank of Ireland provides various mortgage options, including mortgages for first-time buyers, movers, and switchers. First-time buyers can borrow up to 90% of the property value, with a mortgage of up to 3.5 times their gross annual income. Joint applicants must be first-time buyers to qualify for a first-time buyer mortgage. The mortgage terms are up to 35 years.
Who is eligible for the MortgageSaver account?
The MortgageSaver account is designed for customers who are saving to build up a deposit for their first mortgage. To be eligible for the account, customers must be first-time buyers, have a personal current account in the Republic of Ireland, save a minimum of €200 and a maximum of €2,500 per month for at least 6 consecutive months, and draw down the mortgage within 30 months of opening the account.
How can I contact Bank of Ireland for mortgage assistance?
Bank of Ireland has qualified mortgage specialists available in their nationwide network of 250 branches. You can make an appointment to meet them in a branch or request a mobile mortgage manager to visit you at a convenient time and place. You can also call the lending specialists from Monday to Friday, between 9 am and 5 pm.
What types of interest rates and rate options are available?
Bank of Ireland offers a wide range of fixed rate options, ranging from 12 months to 10 years. Customers can also choose a combination of fixed and variable rates, known as a Twin interest rate. The Annual Percentage Rate of Charge (APRC) calculations are based on the cost per month on a mortgage of €100,000 over 20 years. LTV (Loan to Value) rates are applicable, and property valuation reports may be required for lower LTV fixed rates.
What are the cashback promotions and benefits of the Bank of Ireland Cashback scheme?
The Bank of Ireland Cashback scheme offers customers the opportunity to earn cashback on their mortgage payments and maximize their savings. With competitive interest rates, cashback benefits and offers, and a variety of mortgage options, Bank of Ireland provides a comprehensive banking solution. Contact Bank of Ireland today to find out more about their cashback promotions and the benefits of their Cashback scheme.
Source Links
- https://personalbanking.bankofireland.com/borrow/mortgages/up-to-3-cashback-on-your-new-mortgage/
- https://personalbanking.bankofireland.com/borrow/mortgages/campaigns/cashback-plus/
- https://personalbanking.bankofireland.com/borrow/mortgages/two-percent-cashback/
