The Bank of Ireland has increased its Standard Variable Rate from 2.99% to 4.49%.

Bank of Ireland customers have been notified of its intention to increase the SVR on its UK residential mortgage book. The hike in SVR will affect around 100,000 borrowers. The change will be implemented in two stages.

From June 2012 the SVR will increase by 1% from 2.99% to 3.99%.
This will be followed by a further 0.5% increase in September 2012 from 3.99% to 4.49%.

This is the first SVR increase the Bank of Ireland has made to its UK residential mortgage book since August 2007.

If you hold a Bank of Ireland mortgage and are worried about what impact this could have on your mortgage, why not give us a call and see if we can save you money by remortgaging to another lender offering more competitive rates?

Call 01489 580020, enquire NOW or email us at info@parkgate.net

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