The new deal is available for first or second time buyers who have taken advice from the group’s independent financial advice arm.
The advice process includes an affordability assessment and evaluation of how sensitive the borrower is to interest rate movements.
The deal will see BoI waive its mortgage arrangement fees which are usually £799 and ESPC will not charge its £250 advice fee.
It says there is no higher lending charge and there will be a fixed rate conveyancing fee deal.
ESPC says at present the deal is only available on resale properties. It says it is not able to offer the package for people buying from a new build developer.