Mortgage hike to hurt 14,000 buy-to-let landlords with the Bank of Ireland | Mail Online
Mortgage customers with the Bank of Ireland may face a huge hike in their repayments from next March.
Around 14,000 borrowers who live in England, Scotland and Wales are being transferred to The Mortgage Works — part of Nationwide — on December 3.
Many of these are happily sitting on Bank of Ireland’s standard variable rate (SVR), which is only 2.99 per cent. But The Mortgage Works’ SVR is 4.79 per cent, meaning someone with a £150,000 mortgage would go from paying £711 to £859 — an increase of £148 per month.
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