BoI mortgage holders hit by 0.5% rise

Thousands of homeowners and buy-to let customers with Bank of Ireland mortgages will see the cost of their repayments rise by 0.5% from October 24.

The bank confirmed in a letter to mortgage-holders that owner-occupier rates would increase from 4% to 4.5% and buy-to-let rates would jump from 5.15% to 5.65%.

Last week, Bank of Ireland changed the parameters for qualifying for free current accounts.