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Bank of Ireland giving my details to mortgage brokers
SAMMYE_2
Posts: 244 Forumite
Found this a bit odd but I was making an overpayment today and the chap I was speaking to asked me if I minded them giving London and Country (mortgage brokers) my details so they could have a look at the market and see if they could offer me any better mortgages anywhere else.... I asked them why they would want me to go elsewhere and they said it was because they wanted to cut their uk mortgage book..
Any thoughts?
They are supposed to be calling me tonight but I have 2 years of a high interest 6.99% deal. Obviously I would like to get out of it if possible but the Early repayment charge has stopped me.
Any thoughts on the above?
Any thoughts?
They are supposed to be calling me tonight but I have 2 years of a high interest 6.99% deal. Obviously I would like to get out of it if possible but the Early repayment charge has stopped me.
Any thoughts on the above?
[STRIKE]£106,200[/STRIKE] mortgage with 5% deposit 2 years ago on 6.99% 04/06/08 :eek:
Overpaying the max 10% per year for the next 2 years until July 2013 when I can remortgage and should be able to get down to 55% LTV.
Overpaid 10% £10,619.87 Dec 2010 & 10% £9,475 Aug 2011
Mortgage was £690 now £560
Currently £85,203 - 71% LTV 26/08/11
Overpaying the max 10% per year for the next 2 years until July 2013 when I can remortgage and should be able to get down to 55% LTV.
Overpaid 10% £10,619.87 Dec 2010 & 10% £9,475 Aug 2011
Mortgage was £690 now £560
Currently £85,203 - 71% LTV 26/08/11
0
Comments
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They might waive any fees to let you move, ask them. Get a better deal if possible, your current rate is high.
Personally I wonder why they want to get rid of loans, was yours mis sold?0 -
saverjustice wrote: »They might waive any fees to let you move, ask them. Get a better deal if possible, your current rate is high.
Personally I wonder why they want to get rid of loans, was yours mis sold?
Well the reason they gave me was that they wanted to reduce their UK mortgage book.... would be amazing if they would waive any fees! I would cry with joy I think! lol
No not mis-sold I was just totally ignorant and lacking in any knowledge and experience![STRIKE]£106,200[/STRIKE] mortgage with 5% deposit 2 years ago on 6.99% 04/06/08 :eek:
Overpaying the max 10% per year for the next 2 years until July 2013 when I can remortgage and should be able to get down to 55% LTV.
Overpaid 10% £10,619.87 Dec 2010 & 10% £9,475 Aug 2011
Mortgage was £690 now £560
Currently £85,203 - 71% LTV 26/08/110 -
Just found out apparently that for every say £100,000 of mortgage the banks need say a reserve of £10,000 which they havent got hence why they need to cut the (UK) mortgage books[STRIKE]£106,200[/STRIKE] mortgage with 5% deposit 2 years ago on 6.99% 04/06/08 :eek:
Overpaying the max 10% per year for the next 2 years until July 2013 when I can remortgage and should be able to get down to 55% LTV.
Overpaid 10% £10,619.87 Dec 2010 & 10% £9,475 Aug 2011
Mortgage was £690 now £560
Currently £85,203 - 71% LTV 26/08/110 -
I'd be interested to know if you hear anything from Bank of Ireland about incentives to move your mortgage. Am currently on a 5.29% fix with them for another 2.5 years. If they were willing to cut the penalty it might be worth moving.0
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That's interesting. Isn't Bank of Ireland funding the Post Office mortgages that are so competitive at the moment?
Bristol & West Building Society RIP.
I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Hello,
We've just received an offer from the Bank of Ireland to waive the ERC charge and that they will pay the arrangement fees if we move to First Direct. Sadly the fixed rate is due to expire next month anyway so we're not gaining a lot (I was so hoping for this 12 months ago), but it does seem like a good deal!
I suppose we're not worth so much to them as customers once we're not tied in to a high rate.0 -
Well I have spoken to Bank of Ireland and apparently they will be writing to me within 15 days with a decision on whether they will waive the ERC. The lady said it will go one of three ways although she didnt say what. I suppose it will be a yes a no or perhaps an specific offer but she said that decision will be final. Fingers crossed it is a simple yes :-)
Thank God I have been overpaying thank you Moneysaving expert .com!!!!! WOOOOO as this has put me in such a better position to get a new better deal if things work out! :-)[STRIKE]£106,200[/STRIKE] mortgage with 5% deposit 2 years ago on 6.99% 04/06/08 :eek:
Overpaying the max 10% per year for the next 2 years until July 2013 when I can remortgage and should be able to get down to 55% LTV.
Overpaid 10% £10,619.87 Dec 2010 & 10% £9,475 Aug 2011
Mortgage was £690 now £560
Currently £85,203 - 71% LTV 26/08/110 -
Hello,
We've just received an offer from the Bank of Ireland to waive the ERC charge and that they will pay the arrangement fees if we move to First Direct. Sadly the fixed rate is due to expire next month anyway so we're not gaining a lot (I was so hoping for this 12 months ago), but it does seem like a good deal!
I suppose we're not worth so much to them as customers once we're not tied in to a high rate.
No they need to cut their UK mortgage book as they havent got the reserves they need to maintain it so they have to let you go..
You may be able to negotiate that they pay the arrangement fees whoever you move to.[STRIKE]£106,200[/STRIKE] mortgage with 5% deposit 2 years ago on 6.99% 04/06/08 :eek:
Overpaying the max 10% per year for the next 2 years until July 2013 when I can remortgage and should be able to get down to 55% LTV.
Overpaid 10% £10,619.87 Dec 2010 & 10% £9,475 Aug 2011
Mortgage was £690 now £560
Currently £85,203 - 71% LTV 26/08/110 -
There is a special scheme between Bank of Ireland and First Direct - there is even a glossy leaflet giving all the details which they wouldn't have printed just for us. We also have to move our bank account to First Direct to qualify for the scheme.
There is a lot on the news about Bank of Ireland at the moment - according to the FT "The bank must raise €4.2bn in capital ahead of a July 31 deadline."
(Brussels setback for small BoI investorsBy Jennifer Hughes, Senior Markets Correspondent
Published: June 10 2011 23:18 | Last updated: June 10 2011 23:18)0 -
My first mortgage was with B and W - a great 3.99 for 5 years. Shame they got taken over by BoI as they were a great little company back imho.Feb 2012 - onwards MF achieved
September 2016 - Back into clearing a mortgage - Was due to be paid off in 32 years in March 2047 -
April 2018 down to 28.00 months vs 30.04 months at normal payment.
Predicted mortgage clearing 03/2047 - now looking at 02/2045
Aims: 1) To pay off mortgage within 20 years - 20370
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