Bank of Ireland reduces three year fixed rates

Bank of Ireland Mortgages has enhanced its range by reducing rates on selected three year fixed mortgages.

The new standard residential rates are, 4.99% fixed until 29/02/2008 up to 95% LTV, or loans up to 1m.

With 5.49% fixed until 29/02/2008 up to 70% LTV, for loans over 1m.

Additionally, BIM has reduced the rate on its three year buy-to-let easyswitch remortgage to 5.99%, fixed until Febuary 29 /2008 up to 85% LTV, fees assisted.

Both the Standard rates benefit from BIMs 10% overpay facility, which allows borrowers to pay off up to 10% of the outstanding balance each year with no penalty.

This facility is ideal for borrowers who receive annual bonuses or additional income such as dividends.

Kevin Purvey, BIMs head of sales, says: “We regularly review our rates to ensure they remain competitive.

“Our new three year fixed rates are amongst the best available and are designed to offer good all-round value for clients.”