Talk to them - before you do - what type of rate are you on? - my point being if you are on a tracker rate, you may potentially lose it if you want to change the terms...
Secondly are you sure your figures are correct - I'd calculate E200k over 25 years at 2.25% at a repayment of c. E872 per month, which is more than you are currently paying...
I hope everything works out for you both... and would be hopeful BOI would understand your circumstances and work with you during this time...