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Bank of Ireland withdraws products to protect service levels

The Bank of Ireland has emailed brokers announcing the withdrawal of a selection of its products from its new business range tomorrow.

It says that following the implementation of its new mortgage processing system and to protect its service proposition it has had to withdraw these products.

It will be launching a new updated range on February 6.

It says that fully completed applications will be accepted until 4pm on February 5.

It has told brokers to note that online AIPs do not reserve funds, only full online applications.

Bank of Ireland also alerted brokers to the fact that existing applications are taking up to 7 working days to process. Brokers can check their case’s progress on the Bank of Ireland virtual office. If the status shows an application submitted or application received then funds have been reserved.

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