The Bank of Ireland will reprice its residential rates with prices falling below 5% at two-, three- and five-year terms, from tomorrow (29 November).    

The lender says 60% loan-to-value two-year fixed-rate deals start at 4.97%, three-year fixes at this level begin at 4.87%, and five-year fixes start at 4.69%.  

At higher 95% LTVs, two-year fixed-rate deals start at 6.18%, while five-year fixes begin at 5.35%.  

It warns brokers that to secure a product that is being withdrawn, new applications must be completed and submitted, with accepted agreement-in-principles converted to a full application by 9am on 29 November.  

John Charcol mortgage technical manager Nicholas Mendes says: “The latest repricing from Bank of Ireland makes them the latest lender to offer sub 5% deals for a two-year fixed-rate loan, positioning them with other high street lenders.  

“They also offer a competitive three-year fix, which has been strengthened with a further reprice from tomorrow.”