Bank of Ireland Mortgage saver account

Not really. This is just another gimmick like the 2% cashback but stiffing you with higher mortgage rates long term, which costs you thousands more than any bonus here.

You earn 1.35% interest regular saver, which is limited to 15K. You then get 10% of highest regular saver balance + any initial lump sum up to 20K, so largest bonus is 3.5K, as far as I can tell.

Your lump sum is getting a whopping .25% interest while dwindling away too.

All in all IMO this is just another trick product to fool customers into thinking they are getting a good deal
 
I dont understand. Why is largest bonus 3.5k? Aah just checked. Largest lump sum is 20,000 and largest regular saving amount is 15,000
Between that and the 2% cashback and the no DIRT for first time buyers (can you get all at the same time?) It still seems like a reasonable deal if you meet the conditions. One can always switch after the five years.

*agree absolutely that mortgage rates are too high, but they are too high in all of the banks.
 
This cant be combined with any other offer so I imagine your 2% cashback doesnt apply.
 
A useful product with sufficient restrictions that will eliminate many buyers and T&Cs are exclusionary.

The definition of First Time Buyer is in fact so wide that its a worldwide net - even worse than Revenue.

However, the bonus will have DIRT applied and I assume the figures they are quoting are Gross.

How they managed to get Revenue to agree to the other scheme - 2% off the top - is a better structure.
They also say you cannot use another offer so presumably the 2% cannot be availed of at same time.

I would think on efficiency I would save elsewhere unless BoI drop the 2% scheme.
 
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