Porting and Moving

• To be eligible for this porting window the new mortgage application must be received prior to the existing mortgage being redeemed.
• If your client can’t complete on their new property on the same day that they redeem their current mortgage, they can benefit from a 3 month porting ‘window’ in which to complete.
• They have 3 months from the day of redemption to complete on their new property.
• ERCs must be paid up front. They are refundable upon or after completion, providing this happens within the 3 month window.

• We’ll pay a proc fee on the ‘top up’ amount; 0.4% for Residential mortgages and 0.5% for Buy to Let. We don’t pay a proc fee on the ported amount.

• If your client is porting a reduced balance, they can make use of any unused overpayment allowance for the financial year (10% as standard). They’ll need to make the overpayment 5 working days before redeeming the existing mortgage, to make sure it’s reflected on the redemption statement.
• If your client is porting a reduced balance, the ERCs are paid on the amount they are reducing their mortgage by and are non-refundable.

• ERCs must be paid up front. They are refundable upon or after completion, providing this happens within the 3 month porting window.
• The balance of your client's new mortgage will play a part whether this is possible. If they borrow less, ERCs will apply to the amount they redeem if they're within their promotional period.

• If your client has changed their name since the original mortgage was taken out, they will need to speak to us to amend this prior to starting the porting process. They can call our Existing Customer Team on 0345 602 7056* (option 3).

*Lines are open 9am – 5pm Monday – Friday (excludign Bank Holidays). Calls cost no more than calls to geographic numbers (01 or 02). Calls from landlines and mobiles are included in free call packages.

• To port your client’s mortgage you'll need to be registered and able to submit business with Bank of Ireland for Intermediaries, so we can verify you. If you’re not sure if you’re registered or whether you can submit business with us, please get in touch with us and we'll be able to let you know.

• ERCs will be waived if an ERC Waiver form has been completed by your client's Solicitor prior to redemption.

• Valuations are instructed once the case has been accepted and any related valuation fee paid. The case will be passed to underwriting once fully packaged. Clients can call our Intermediary Enquiry Line on 0345 266 8928* to pay the valuation fee once they've received their mortgage illustration.

*Lines are open 9am - 5pm Monday - Friday (excluding Bank Holidays). Calls cost no more than calls to geographic numbers (01 or 02). Calls from landlines and mobiles are included in free call packages.