Bank of Ireland pay customers to leave

A number of Bank of Ireland customers affected by the recent increase to tracker mortgages have been offered £1,000 to leave the bank.

The troubled lender attracted much criticism when it announced plans to increase the differential on residential and buy-to-let mortgages because of a need to hold more capital.

Around 13,500 customers have been affected by the changes with some customers now facing a doubling of their mortgage payments.

The Bank of Ireland has now confirmed that a number of customers affected by the rate rise have been offered £1,000 to leave the lender.

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