Existing customers can bring their fixed rate with them?

Discussion in 'Issues with tracker mortgages' started by dinzer, Mar 7, 2017.

  1. dinzer

    dinzer New Member

    Posts:
    1
    Greetings,
    first time poster ...

    I am on a variable rate with BOI - 4.25%.
    I have held off switching as i am exploring moving house.

    The following statement on the BOI website confuses me
    • Existing customers can bring their fixed rate with them to a new Bank of Ireland mortgage if they move during the fixed period
    Does this mean i can switch to a 5 year fixed rate (3.3%) ... and if i move house i can get a new mortgage (of same value/balance) on the same rate without penalty?

    I did ring BOI but the customer service rep suggest i would be penalized for this. If this is the case then the statement on their website is misleading.

    thanks for any input

    Din