04 May 2016
Over 50 products updated with lower rates and additional offers
Best no fee Help to Buy products on the intermediary market*
Bank of Ireland for Intermediaries is making wide ranging improvements to its current product range (with effect from Friday April 29th).
The Bank will now pay the valuation fee on all new Bank of Ireland for Intermediaries Help to Buy mortgages and give borrowers a £400 cashback on completion. The products are available under the Government’s Help to Buy scheme, have no arrangement fees and are the lowest ‘no fee’ Help to Buy rates available via intermediaries on the market*.
The new products are part of the Bank’s commitment to supporting First Time Buyers with rates starting from 3.74% for 2 years fixed.
Bank of Ireland for Intermediaries has also launched a new range of 2 year Buy to Let fixed rates, with improved rates of up to 0.32%, aimed at having the broadest appeal to intermediaries and their customers. The new improved range of Buy to Let products also includes a highly competitive rate of 1.97% and features a 60% LTV product with free fees for borrowers looking to remortgage.
The improved offering on Bank of Ireland for Intermediaries products extends to all residential mortgages with rates reduced by up to 0.20%, and cashbacks improved from £300 to £400. The increased cashback feature responds directly to feedback from brokers who wish to offer Bank of Ireland UK products to customers who are remortgaging and need help to pay their legal fees in full.
Mark Howell, Director of Marketing and Customer Management said: “We work closely with our broker partners, taking on board their feedback and we are delighted to be able to offer them a new and improved set of Bank of Ireland for Intermediaries products. Our new range offers intermediaries and their customers excellent rates across all product areas, supporting Britain’s First Time Buyers, movers, those remortgaging and Buy-to-Let landlords.
What’s more, our award winning mortgage application system has made the mortgage application process extremely efficient for brokers, halving the time it takes and increasing the number of instant applications accepted.
We expect this new product range to be very popular with our broker partners and we are looking forward to providing excellent service along with these very competitive rates”.
Notes to editor:
* Correct as at 04 May 2016
Summary of range improvements
Help to Buy
- Best no fee H2B rates in the intermediary market
- All H2B rates include a free valuation and £400 cashback to help with upfront fees
Improved cashback
- Cashback increased from £300 to £400, to cover standard remortgage legal fees or put towards purchase legal fees
Buy to Let improvements
- Bank of Ireland’s new BTL product range features significant rate reductions including:
- 2 year BTL fixed rates improved by up to 0.32%
- 60% LTV rates starting from 1.97%
Residential improvements
- Residential rates improved by up to 0.20%
First Time Buyer
- BOI UK has a competitive range of higher LTV products
- Range of 2, 3, and 5 year fixed rates designed to help people buy their first home
Fees Free
- Free legal and free valuation options for remortgages
- Headline product 1.69%, 2 year fixed to 75% LTV
- To help refinancers, the product comes with free standard valuation and legal