B of I raises fixed rate mortgage


Bank of Ireland has increased the interest rate on its fixed rate mortgages by between 0.15 and 0.35 of a percentage point and has increased the rate paid on 30 day deposit accounts and guaranteed bonds by between 0.25 and 0.5 of a percentage point.

Fixed rate mortgages from Bank of Ireland now vary from 5.9 per cent for one year for new customers to 9.4 per cent for a 10 year fixed rate [mortgage. The bank has introduced a new discount option of 1.75 per cent of the standard variable rate.