I am on a variable rate with BOI - 4.25%.
I have held off switching as i am exploring moving house.
The following statement on the BOI website confuses me
Existing customers can bring their fixed rate with them to a new Bank of Ireland mortgage if they move during the fixed period
Does this mean i can switch to a 5 year fixed rate (3.3%) ... and if i move house i can get a new mortgage (of same value/balance) on the same rate without penalty?
I did ring BOI but the customer service rep suggest i would be penalized for this. If this is the case then the statement on their website is misleading.