If you want to stay with us, you have two simple options:

1. Move your current mortgage to your new property, avoiding any applicable Early Repayment Charge (ERC). You can also borrow more using one of our home mover deals.

2. Switch your current mortgage onto a new rate from our home mover range (and borrow more if you need to). You must be out of your promotional period to avoid paying an ERC, or be happy to pay it.

Don’t worry if you don’t know which option to choose. As part of our free advice service, we’ll discuss your circumstances then make our recommendation based on what option is right for you.

When transferring your mortgage please be aware of all of the following:

• We must have your signed application for your new mortgage before you pay off your current one
• Unless your sale and purchase happen on the same day, you’ll have to pay any applicable ERC on your current mortgage
• To get a refund of any ERC you’ve paid, you must complete on the purchase of your new property within 3 months of selling your current home
• If you don’t complete within the 3 months, you won’t get a refund of any ERC paid. You’ll also have to choose a brand new mortgage deal. There may be restrictions that apply.

See our FAQs for more information.

As part of the application process, we’ll ask you to confirm:

• Your income;
• Details of the new home you’re looking to purchase;
• Details of your current financial commitments (including outstanding amounts and monthly payments).

To make things as quick and easy for you as possible, it’s worth having these details to hand before you speak to us. Our advice service is free to use.

• Can I move my mortgage rate to my new property?

  Yes, subject to the terms and conditions in your mortgage Offer. Any new application will need to meet our lending criteria.

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• Do I have to transfer my current mortgage rate?

  Not at all. Transferring your current mortgage rate is totally your decision. However, you may have to pay any Early Repayment Charge that apply to your current mortgage when you move.

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• What if my application to transfer doesn’t meet your lending criteria?

  If we’re unable to help you, you may want to talk to an independent financial adviser to discuss your options. It’s worth noting that any Early Repayment Charge will still apply.

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• Will transferring my current mortgage rate be free of charge?

  You’ll be charged a lending fee for setting up the new mortgage account, as well as solicitor and valuation costs. You may also have to pay a mortgage release fee to close your old account. Your original mortgage Offer terms and conditions will have more information on this.

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• Can I transfer my current mortgage rate without paying Early Repayment Charges?

  Yes. To do this your legal representative must complete and return an Early Repayment Charge Waiver Form. This should be sent to: Mortgage Customer Services, Bank of Ireland, PO Box 3191, 1 Temple Quay, Bristol, BS1 9HY. Or it can be faxed to 0117 943 6555. We need to receive this at least one week before you plan to pay off your existing mortgage.

  When we’ve received the Early Repayment Charge Waiver Form, we’ll produce a redemption statement without any Early Repayment Charge. However, we’ll only issue this statement on the condition that redemption takes place at the same time as completion of a new mortgage with Bank of Ireland. Also, the new loan shouldn’t be less than the existing amount, or this would incur an Early Repayment Charge.

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• How do I get an Early Repayment Charge Waiver Form?

  An Early Repayment Charge Waiver Form be sent in the offer pack that your legal representative gets. But in case you need another form, please get in touch.

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• Can I transfer my current mortgage rate if I’m unable to redeem and complete my new mortgage on the same day?

  If you’re unable to redeem (pay back) and complete on a new mortgage on the same day, then you can apply to transfer your current mortgage rate using our Non Simultaneous Porting Policy.

  This means once you’ve applied to transfer your existing mortgage rate to your new home, we’ll give you three months to complete the purchase. You’ll still have to pay any Early Repayment Charge upfront. But as long as you pay back your original loan and complete on the new mortgage within the three month window, then we will refund any Early Repayment Charge paid.

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• What if I can't complete on the purchase of my new home within three months?

  After the three month porting window has passed, you won’t receive a refund of any Early Repayment Charge paid. You’ll also need to select a new mortgage deal. Restrictions may apply.

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• Can I transfer my current mortgage rate if I want to borrow less than my current mortgage?

  Yes. However, you’ll have to pay a pro-rata Early Repayment Charge when you repay your current mortgage in full. This will be based on the reduction in the amount borrowed.

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• Is there a minimum amount I can transfer?

  Yes. The minimum loan amount is £1,500.

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• Can I transfer my interest rate more than once?

  Yes, you could transfer your mortgage rate more than once. Again, this would be subject to the terms and conditions in your mortgage Offer and meeting our lending criteria.

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• If I currently have a Residential mortgage, can I transfer my mortgage rate to a different mortgage type (e.g. Buy to Let)?

  No. Unfortunately we’re unable to transfer interest rates between different types of mortgage. This is because they have different lending criteria.

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• Will my new mortgage exactly match my existing mortgage?

  Not necessarily. We’ll recalculate your payments, so the monthly payments on your new account may not match your current monthly payments exactly.

  Also, your new mortgage will need to meet our current lending criteria. This could mean you need to make changes to your new account to reflect this, for example the amount you have on a repayment or interest only basis.

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