Bank eases mortgage hikes policy

Updated
Bank of Ireland
Bank of Ireland

The Bank of Ireland (BOI) has partially backtracked on a steep rise in mortgage rates for customers who thought their repayments were fixed for life.

It has written to 1,200 of the 13,500 homeowners facing sharp increases - despite taking out tracker deals linked to the historically-low Bank of England base rate - to tell them they will no longer be applied in their cases. The bank said the Financial Conduct Authority (FCA) was "supportive of our approach in excluding these customers".
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