Bank of Ireland launches new mortgage range

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&#39s solicitor panel, and refunds the lender&#39s 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&#39s 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&#39s Bank of England decision to keep interest rates on hold suggests that lenders will not be moving their SVRs much in the near future.”