Making lump sum overpayments
If your circumstances change and you find yourself with a little extra cash, you might want to repay this against your mortgage account.
Part redemptions
Lump sum repayments are called 'partial redemptions'. They automatically reduce your outstanding balance and monthly payments and the minimum overpayment is now just £500.
If you are outside of a promotional period and no Early Repayment Charges apply, there is no charge for making lump sum overpayments. If you're in a promotional period, many of our mortgages allow you to repay up to 10% of your mortgage balance each financial year without incurring any Early Repayment or administration charges. This is calculated each year based on the outstanding mortgage balance from 31st March in the previous year and the minimum payment is just £500. Please call us on 0845 300 8000* for more details.
To make a part redemption, you can call us on 0845 300 8000* and arrange everything over the phone, or you can send a cheque together with the Part Redemption form. Please make all cheques payable to Bank of Ireland Mortgages and quote your mortgage account number and address on the back of the cheque. Send all cheques to Mortgage Customer Services Department, Bank of Ireland Mortgages, PO Box 27, One Temple Quay, Bristol, BS99 7AX. We recommend that you send this by recorded delivery.
Download the part redemption form (PDF)
Flexible mortgages
If you have a flexible mortgage the process for making lump sum overpayments is slightly different, please call us on 0845 300 8000* for more details.
Your questions answered
If you're unsure of anything, our most frequently asked questions might help you.