Ex Bank of Ireland mortgage client increased rates solution

Ex Bank of Ireland mortgage payer?

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Avoid increase rates from Bank of Ireland

Are you one of the 16,000 Bank of Ireland mortgage customers who were recently transferred to Nationwide under it’s ‘The Mortgage Works’ brand? If so, are you currently enjoying the Bank of Ireland standard variable mortgage rate of 2.99%?

Mortgage Rate increases from March 2012

You will probably be aware that Nationwide intends to increase your mortgage payments from 2.99% to the 4.79% offered by The Mortgage Works under it’s standard variable rate. These increases are due to start imminently, being implemented from next month – March 2012.

The average mortgage size of those transferred is understood to be £150,000 which means an increase of around £225 per month in mortgage interest payments. This is especially punative given that the average loan to value of transferred clients is low at around 50%.

Keep your mortgage rates low

Fortunately, ex Bank of Ireland clients can opt to move to another Lender to avoid the increase in monthly mortgage payments, or, in some cases, see a reduction in payments.

We can currently access tracker remortgage rates from 2.69% and fixed remortgage rates from 2.85%. What is more we can arrange everything with no valuation fees and legal costs paid by the Lender.

If your Bank of Ireland mortgage is causing you concerns – – contact us now.

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