Moving to a new home but keeping your great mortgage rate
Whatever's driving you to look for a new home; a growing family, a work or lifestyle relocation, or just wanting to move to a nicer area or bigger property, we can help you make the move without having to lose out on your mortgage.
With Bank of Ireland Mortgages, your current rate can be as portable as you need it to be. In fact, by letting us move your current mortgage deal to your new home, (usually known as 'porting') you could save yourself hassle, time and money. We take care of the paperwork and try to make sure everything is done how and when you want it. Even better, all our rates can be transferred (subject to our lending criteria still being met) - no matter what kind of mortgage you have with us. Terms and conditions apply.
Main benefits of staying with Bank of Ireland Mortgages
- You save yourself the time and hassle of having to find another lender
- You could save yourself money if your current mortgage rate is lower than new rates available for switching
- You can even top-up your existing mortgage by borrowing more (subject to you meeting our current terms and conditions)
What must I do if I'm moving home?
What you need to do depends on whether your mortgage is still in a promotional period. You'll need to find out this information first. You can see if you're in your promotional period by looking at your last mortgage statement.
I'm still in my promotional period
If you're still in your promotional period, you can apply to transfer your current rate to a new mortgage. This is called porting your mortgage rate and is subject to our normal underwriting criteria. Porting allows you to carry over any discounts or special conditions that you currently have including any Early Repayment Charges (ERCs).
My promotional period is finished
If you're not in your promotional period, you can take your existing mortgage with you or switch to a new rate.
Please note that your mortgage loan is secured on your current property. If you would like to port your mortgage rate you'll need to apply for a new mortgage loan for your new property. This will be subject to the terms and conditions in effect at the time of the new application. Please see our guide to Moving House and Porting Your Mortgage Rate (pdf).
If you would like further information on moving home and porting your mortgage please call us on 0845 300 8000* or email us at customer.advantage@boipluk.co.uk
Your questions answered
If you're unsure of anything, our most frequently asked questions might help you.