Massive rate shock hits Bank of Ireland and Bristol & West borrowers as they face 50% payment hike | Mail Online

Massive rate shock hits Bank of Ireland and Bristol & West borrowers as they face 50% payment hike | Mail Online

Bank of Ireland and Bristol & West borrowers are the latest to have been delivered a mortgage rate shock with a huge hike from 2.99 per cent to 4.49 per cent, despite believing they had escaped a hike by not being sold to Nationwide.
It is the latest in a round of rises that has shocked those sat on lenders' standard variable rates and believed they would not rise independently of base rate - more homeowners will now be worried their lender could follow suit.

The 100,000 Bank of Ireland and Bristol & West borrowers who avoided being moved on to Nationwide’s subsidiary The Mortgage Works have begun to receive letters from the Irish bank telling them that their mortgage payments could go up by 50 per cent from next September.