Your Bank of Ireland mortgage rate is coming to an end and that means you have a choice to make. You can accept whatever deal Bank of Ireland puts in front of you, or you can use an FCA-regulated broker to compare your options, secure the most competitive rate available, and earn cashback in the process. At Rate Switch Rewards, we handle the entire Bank of Ireland product transfer on your behalf at no cost to you.
What Is a Bank of Ireland Product Transfer?
A product transfer is when you move from one mortgage deal to another with your existing lender, Bank of Ireland, without changing the loan amount or the lender itself. There is no need to reapply for a mortgage, and in most cases the process takes less than 15 minutes. It is one of the most effective ways for existing Bank of Ireland customers to reduce their monthly payments when their current fixed or tracker rate expires.
Key Things to Know About Bank of Ireland Product Transfers
- You can arrange your Bank of Ireland rate switch up to six months before your current deal expires. You can apply for a bank of ireland product transfer up to six months before your current rate expires.
- There are no legal fees, no valuation fees, and no arrangement costs you have to pay upfront, though some rate products carry optional product fees which can be added to the mortgage balance
- Bank of Ireland offers a range of fixed-rate and tracker products for existing customers, covering residential and buy-to-let mortgages
- As long as your account is up to date, you can switch rates regardless of any changes to your financial circumstances since you first took out the mortgage.
- Bank of Ireland UK offers mortgage products to both residential and buy-to-let customers. Their product transfer process is straightforward, with no requirement for a full mortgage application or new affordability checks.
Calculate Your Rate Switch Cashback Reward
Use our cashback calculator below to see exactly how much you could earn by switching your Bank of Ireland rate through Rate Switch Rewards. The reward is paid directly to your bank account once your new mortgage completes.
How Long Does a Bank of Ireland Product Transfer Take?
In most cases, a straightforward Bank of Ireland product transfer can be completed the same day. Once we access your account details, we identify the available product options, email them to you for review, and submit the application once you have chosen your preferred rate. A mortgage offer is typically issued immediately.
If your transfer involves additional borrowing, a change to your mortgage term, or a switch to interest-only repayment, extra checks may be needed. We will let you know at the outset whether any of those factors apply to your case.
Can I Borrow Extra Money with a Bank of Ireland Product Transfer?
Unfortunately, Bank of Ireland does not allow additional borrowing to be processed at the same time as a product transfer. If you need to borrow more, that application must be completed first — we can guide you through both steps.
Why Switch Through Rate Switch Rewards Rather Than Direct?
Many borrowers go directly to their lender when their rate expires. The problem is that Bank of Ireland has no obligation to offer you the most competitive deal available. As a whole-of-market broker, we compare Bank of Ireland’s product transfer rates against every available option. If staying with Bank of Ireland is your best move, we will confirm that with the numbers to back it up.
There is another risk in going direct. If you accept a rate today and rates fall before your new deal starts, you could end up paying more than necessary. We monitor rates on your behalf and will cancel and replace your accepted rate with a lower one if one becomes available before completion. That is something you simply cannot get by dealing with Bank of Ireland directly.
Benefits of Completing Your Bank of Ireland Product Transfer Through Us
- Whole-of-market comparison — we check Bank of Ireland’s rates against all available deals on the market
- Cashback paid directly to your bank account once the mortgage completes
- Rate monitoring — if rates drop after you accept a deal, we switch you to the lower one automatically
- No credit check required for a standard product transfer
- FCA-regulated advice — we are an Appointed Representative of Rosemount Financial Solutions IFA Ltd, FCA ref 535515
- Free service — we are paid by the lender, not by you
The Bank of Ireland Product Transfer Process Step by Step
- Share your details with us: Bank of Ireland mortgage account numbers are 10 digits long and can be found on your mortgage statements or letters from the bank. We use this to access your current mortgage account and review the available product options.
- Receive your quotes: We will email you a clear comparison of the rates Bank of Ireland is offering, alongside any better deals available on the wider market, so you can make a genuinely informed decision.
- Choose your rate: Once you have decided which product suits you best, simply let us know and we will submit the application on your behalf.
- We monitor your rate: After acceptance, we watch the market. If a lower rate becomes available before your new deal starts, we cancel the existing acceptance and secure the better rate for you.
- Cashback paid to you: Once your new Bank of Ireland mortgage completes and we receive our adviser fee from the lender, we pay your cashback directly into your bank account.
How Can Rate Switch Rewards Help with Your Bank of Ireland Product Transfer?
We are a team of FCA-regulated mortgage advisers specialising in product transfers and rate switches. We work with over 30 lenders including Bank of Ireland, and we use specialist software to compare products on a like-for-like basis, taking into account not just the headline rate but also arrangement fees, early repayment charges, and term length.
If you are unsure whether a product transfer is the right move, or whether remortgaging to a new lender would save you more, we will give you an honest answer. Our job is to find you the best deal.
Ready to find out how much your Bank of Ireland product transfer could earn you? Use the calculator above or complete our short form and we will be in touch.
Your home may be repossessed if you do not keep up repayments on your mortgage. The Financial Conduct Authority does not regulate some forms of buy-to-let mortgages.
