Bank of Ireland unveils €2 billion mortgage fund

Bank says residential property prices and people’s incomes are stabilising


Bank of Ireland has unveiled a new €2 billion mortgage fund for first-time house buyers and movers.

The bank launched a similar fund last October, and from this about €1.2 billion worth of loans have now been approved.

Head of consumer banking at BoI, Gavin Kelly, said the bank was seeing strong evidence that residential property prices and people’s incomes are stabilising.

“These factors are contributing to improved consumer sentiment and an increase in the number of people considering the purchase of a home or changing home,” he said.

“We expect strong demand to continue, particularly in the urban areas, as affordability has improved.”

Bank of Ireland said it had now introduced a number of initiatives to make it easier for customers to apply for mortgages.

These include three of the bank’s largest branches (O’Connell Street, St Stephens Green and Baggot Street) opening at 8am so that busy customers can make early mortgage appointments and the introduction of “mobile mortgage managers,” who will meet with customers in the greater Dublin area at a time and place that suits them.

“We are here to support existing customers and attract new customers,” Mr Kelly said.

“We hope to engage with as many people as possible... over the coming months.”