You are here: Home - News -

BIM launches new range of low rate mortgages

by:
  • 01/02/2001
  • 0
Bank of Ireland Mortgages (BIM) has launched a new range of mortgages with reduced rates. Commenting...

Bank of Ireland Mortgages (BIM) has launched a new range of mortgages with reduced rates.

Commenting on the launch Debbie Staveley, PR officer at BIM, said: “We wanted to start the year on a high note and we are anticipating cuts in the mortgage rate in the coming year. Hopefully these cuts should make it easier for brokers to sell more mortgages.”

In particular the range is aiming to attract the growing remortgage market. “People tend to be strapped for cash after Christmas and desperately need to save money. Remortgaging is an excellent way of doing this.’

The range includes a new capped rate at 4.39% for one year followed by bank base rate for a year. For those looking for the security of fixed payments it has launched a five year fix at 5.49% on loans over £100,000 and 5.69% for loans up to this sum.

For the first time the bank has also launched a ‘lifetime value’ deal which pledges to track base rates with a rate of 0.65% over bank base rate for the full term of the mortgage.

In addition to its core range the lender has also introduced a range of specialist mortgage deals. These include a self-certification mortgage capped at 5.85% for two years with no redemption overhang and a unique flexible mortgage that allows borrowers to take part of their loan from a core range product and part on the lender’s flexible product.

The range also offers a buy-to-let mortgage for borrowers looking to invest in property with another five year fix at 5.69%.

l NewWorld, the UK arm of the Commonwealth Bank of Australia has also reduced its rates across the range, despite interest rates remaining stable. The two year fix on its owner occupier and buy to let mortgages have fallen from 6.45% and 6.60% to 6.30% and 6.45% respective. The remainder of the range have all been reduced by 0.10%.

Tags

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
HSHL launches in Northern Ireland

High Street Home Loans has announced that its full range of mortgage products is to be made availabl...

Close