€160,000 @ 2.3%
€130,000 @ 3.0%
Ulster Bank will give you the full €290k fixed for two years at 2.3% and €1,500 cash back.
Bank of Ireland will probably give you 2% cash back on the €130,000 which is €2,600.
The Ulster Bank deal seems better.
So, the best thing to do is
1) Get approval in principle from Ulster Bank when you are ready to buy
2)Confirm with BoI that they will give you 2% cash back on the €130,000
3) Ask BoI for a better rate than 3%
4) Buy your new house with a BoI mortgage
5) Switch to Ulster Bank as soon as you are settled in.
Tell your solicitor in advance what you are planning to do so that they will be ready for the second switch.
But it might be just simpler to switch to Ulster Bank.
Brendan