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Reasons to give asking Bank of Ireland to waive my Early repayment charge..
Comments
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Thrugelmir wrote: »I'm doubt your solitary mortgage account will make much difference to the BOI.
The downside of staying with them is that their product range may not be attractive at the point your fixed term ends. At the moment you are a profitable customer to them.
Yes but in that case my solitary Early repayment charge wouldnt make much difference either...
The fact is B of I need to cut £32 odd billion from their UK book so no single solitary mortgage would make a difference. Profit has got nothing to do with the reason they need to cut their UK book its all to do with the amount of reserves they have. My piddly mortgage probably represents a massive percentage of the type of mortgage book B of I have.
The fact they are paying customers £1000 cashback shows what a dire position they are in.[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 have e-mailed them today saying that I will have to stay with them unless they waive or greatly reduce the ERC.
I will let you know how I get on. I feel they will probably turn round and say no but nothing ventured nothing gained.[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 have e-mailed them today saying that I will have to stay with them unless they waive or greatly reduce the ERC.
I will let you know how I get on. I feel they will probably turn round and say no but nothing ventured nothing gained.
I'd be interested to hear the outcome!!
Good luck!! Original Mortgage Debt - £130,330.
Current Mortgage Debt - £116,605.
2010 O/Ps - £5,000. 2011 O/Ps - £1,978.42.
Original Loan Debt - £6,000. Current Loan Debt - £3,500.
Original HP Debt - £1,000. Current HP Debt - £240.0
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