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Return to Mortgages HomeMoving Or Improving

If you already own your home, you may be thinking about extending it or moving to a larger house. Perhaps your children have left the nest to make their own way in the world, and the home you shared is too big. Whether you are trading up or trading down, Bank of Ireland can help.

Moving home

If it’s a while since you’ve taken out a mortgage, we can guide you through the process to help make it as easy as possible.

We’ll also be there to help out if you experience delays in selling your home while buying another. If this happens, you may need a bridging loan to cover the period between the purchase and the sale.

Improving your home? Time to release your equity

If you are staying put, there’s nothing like a bit of redecorating or even building an extension to make the old place like new again. One of the easiest ways of financing this type of work is to release some of the equity built up in your home.

Equity is the difference between the amount you owe on your mortgage and the current value of your home. If your home is worth, £250,000 but your mortgage balance is £100,000, you have equity of £150,000.

You can release some of this valuable equity to finance renovation, redecoration or an extension by increasing your mortgage.

Releasing equity is also a way of financing education fees or buying a holiday home.

A better mortgage deal

You don’t have to be moving or improving to benefit from our mortgage advice. If it’s some time since you arranged your mortgage or your circumstances have changed, it makes sense to look at what’s on offer now. You might find that you would be a lot better off with a new mortgage scheme. Our fully trained Mortgage Advisers will discuss your options and help you decide whether it’s in your best interests to switch.