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Bank of Ireland aims to attract mortgage switchers

Bank of Ireland will give mortgage switchers 1% of their loan's value back
Bank of Ireland will give mortgage switchers 1% of their loan's value back

Bank of Ireland has announced a new incentive aimed at mortgage holders looking to move lenders.

The bank said it would give owner occupiers 1% of their mortgage amount when they switch as a contribution towards the fees involved in the process.

The bank said the payment would not be capped, with customers able to borrow up to 90% of the value of their home.

It is the latest in a number of incentive schemes announced by various banks which are designed to attract mortgage business.