BOV HomeInvest is the latest addition to the BOV Home Loan products suite. This type of home loan is intended for those applicants who wish to purchase a residential property for their own private use as part of their property asset portfolio. Requests for this type of loan can be considered for loans up to €500,000. Only applications for the purchase of a property which does not fall within the scope of the First Time Buyers’, Holiday Home, or Moving Home products may be considered under this product, subject that the property is not intended for rental purposes.

The salient features of the BOV HomeInvest loan are the following:

• a minimum upfront contribution of 20 per cent of the purchase price of the property (and completion, where applicable)

• attractive interest rates starting from 1.6 per cent over the Home Loans Bank Base Rate

• a maximum loan to value of 80 per cent (including any furniture loan, where applicable)

• a maximum term of 40 years but not exceeding applicant’s retirement age

• advances processing fees of 0.3 per cent of loan amount (minimum €150)

• legal fees as per bank’s tariff of charges

• property may be located in the same locality as an already owned property

• monthly repayment has to be affordable in full from customer’s income from employment and cannot include any form of rental income

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