Bank of Ireland has today launched a new fees-paid remortgage range with rates starting at 3.59% for a two-year stepped discount.
Easyswitch allows remortgage up to 95% for almost any purpose. It covers standard legal remortgaging costs using the lender's solicitor panel, and refunds the lender's usual valuation fee up to £500. There is no arrangement fee.
There is a discount in the first year of 2.36%, producing a starting rate of 3.59%. The discount in the second year is 1.46%, a rate of 4.49%. There is no tie-in after the two-year term, when the rate reverts to the lender's SVR, currently 5.95%.
George Chapman, director of Brighton-based The Mortgage Information Bureau, says: “This is a very competitive and attractive rate in its market, and last week's Bank of England decision to keep interest rates on hold suggests that lenders will not be moving their SVRs much in the near future.”