MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
  • Mortgages
  • Property Report
MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
    • Mortgage Learning Center
    • Calculators
    • Best Mortgage Table
  • Property Report
    • All Properties
    • Houses For Sale
    • Apartments For Sale
    • Available To View
    • Overseas Holiday Homes
      • Properties For Auction
      • Upcoming Auctions
      • BER Assessors
      • Property Conveyancing Solicitors
      • Pre-Purchase Surveyors
    • Find Agents
    • All Properties
    • Houses To Rent
    • Apartments To Rent
    • Available To View
    • Share
      • Irish Holiday Homes
      • Overseas Holiday Homes
  • New Homes
    • For Sale
    • To Rent
    • Auction
      • Residential Land
      • Commercial Land
      • Farm Land
      • Farms
      • Sites
    • MyHome Living
    • Buyer Advice Hub
    • Property Report
    • Property Price Register
    • Price Changes
  • Mortgages
    • Rental
    • Holiday Homes
    • Commercial
    • Sharing
Advertisement
  • Home
  • Uncategorized
  • Bank of Ireland's negative equity mortgages will allow homeowners to borrow up to 175% of what their new home is worth
Uncategorized
Apr 20, 2012 - 09:50

Bank of Ireland's negative equity mortgages will allow homeowners to borrow up to 175% of what their new home is worth

The MyHome Newsdesk
By The MyHome Newsdesk
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share
Bank of Ireland's negative equity mortgages will allow homeowners to borrow up to 175% of what their new home is worth

Bank of Ireland’s new negative equity mortgages will allow customers to take out new home loans that are almost double the value of their house.

Up until now any negative equity mortgages offered to homeowners only allowed them to carry small amounts over to their new loan.

Following yesterday’s announcement that Bank of Ireland was now actively entering the negative equity market though, the bank has revealed that homeowners could end up with borrowings of up to 175% of what their new home is worth.

That means that someone who buys a €100,000 house could end up owing €175,000 on the negative equity mortgage on their new home.

Advertisement

Jonathan Byrne, the head of mortgages at Bank of Ireland, said that customers would have to undergo a full assessment by the bank and must demonstrate they can afford the new mortgage.

Up until now people in negative equity were offered new mortgages worth no more than 125% of the value of their new property.

There will be two type of mortgages offered – one for those who wish to trade up to a home of higher value and one for those who wish to trade down to a home of a lesser value.

Over 50% of Bank of Ireland’s residential mortgages are currently in negative equity.

Subscribe to our weekly MyHome Living eZine today

Processing your request...

You are subscribed now!

<

  • Tags
  • assessment
  • bank
  • Bank of Ireland
  • borrowings
  • customers
  • Head of Mortgages
  • home loans
  • homeowners
  • Jonathan Byrne
  • loan
  • negative equity mortgages
The MyHome Newsdesk
By The MyHome Newsdesk
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share

Helpful Links

Find your home on MyHome
Read more Articles
Calculate what you can afford to borrow
Welcome to the Retrofit Hub
Advertisement
Advertisement

Related News

What is a Heat Pump?
Uncategorized

What is a Heat Pump?

Feb 27, 2025
Living Cities Initiative
Uncategorized

Living Cities Initiative

Jan 14, 2025
Digital Services Act
Uncategorized

Digital Services Act

Mar 31, 2024
Avant Money and Finance Ireland announce new rates
Uncategorized

Avant Money and Finance Ireland announce new rates

Dec 09, 2021
Average deposit of first-time buyer was €52,000 in first half of the year
Uncategorized

Average deposit of first-time buyer was €52,000 in first half of the year

Dec 07, 2021
Frequent And Popular Searches
MyHome.ie Blog
Help
Jobs
About
Equality Guidelines
Brand Safety
Contact
Terms & Conditions
Cookie Policy
Privacy Policy
Digital Services Act
Sitemap
© Copyright MyHome.ie 2025
Advertisement