Bank of Ireland, free redemption and Cash-back?

kingstreet

angry_chap wrote: »

Hi Geoff,

Massive thank you to you, BOI have waived the charge based on the info you sent me. I really cant thank you enough as this now means I can buy the house I really want for my family.

Thank you

This fella didn't get a letter!

Trig1903

Fair point, still worth a call then. We're not on a bad deal by any means but there's better available right now.

forry123

angry_chap wrote: »

Hi Geoff,

Massive thank you to you, BOI have waived the charge based on the info you sent me. I really cant thank you enough as this now means I can buy the house I really want for my family.

Thank you

Hi angry chap.
Could you tell me what you said to BOI to get the charges waiver and how the letter helped.

I am having a hard time with them and they are not for helping at all so i am taking it further.
in my mortgage contract it states that i can port my mortgage to a new property and take a new mortgage. they have since changed their policy and do not offer further lending so to me they are in breach of contract.

thanks

eckosix

Hi I actually received a letter this morning which has the 'free L & C mortgage review' speel on and goes on to tell me that there are probably better rates etc. but doesnt mention the £1k cashback nor the waiver of early redemption penalties. (in fact says 'please note any fees associated with the closure of your account will need to be paid prior to redemption)
Weird! Looks like it is just for some then, dont know what system they are using to choose?

eckosix

kingstreet wrote: »

This fella didn't get a letter!

Thanks kings!
Yes how did you do it angry chap? I would be very interested to know as I too want to change my mortgage. When I called yesterday they clearly stated that if I didnt have a letter, and they knew who they had sent letters to, then I didnt qualify for the cashback or early redemption charges waiver!

forry123

i had someone from L&C call me and i told him i had an ERC. he tried to get it waivered but they refused.

i have spoken to a number of people at BIO and they are clueless. they all have different information.

The difference with remortgaging and moving house and porting is different.

When i signed the contract it states i can port and borrow more money.
they are now saying i cant do that.
Now BOI are in debt and need to off load mortgages. you would think they would let you go and waiver the repayment.

i will be going to the financial ombudsman if its not resolved.

eckosix

Trig1903 wrote: »

Fair point, still worth a call then. We're not on a bad deal by any means but there's better available right now.

just wondered if you have phoned yet and how you got on?

Forry have you managed to get anywhere? If angry chap managed to get his fees waived then surely they dont know who they have sent letters to and we can all use that info, do you think? Maybe? (feeling slightly optimistic haha)

Trig1903

Heven't phoned yet but am planning on digging out my paperwork over the weekend to double check a couple of things first.

forry123

they are saying they cannot waiver the ERC as it states in my contract that i can port my mortgage but extra lending is not gauranteed.

they advised me that i should take out a personal loan to make up the difference in borrowing. laughable advice.

i have sent them a letter but not holding much hope

jskemp76

JimiH wrote: »

Hello

Just recieved a letter from the Bank Of Ireland informing me that If I switch to ANY other lender I will receive "No early repayment charges" & £1000 cashback on completion of new mortgage deal. They offer a free "London & Country" mortgage review too. They say since they decided to close "Bristol & West" they need to reduce the amount of mortgage customers they have. Anyone have an opinion on what we should do?

Regards

Geoff

Hi, I've just been for a review with my Mortgage Advisor and learn't this potentially exciting news. Sorry to burden you with yet another request, but could you please let me have a copy of the letter, so that I am fully informed when I chase this up in the coming days.

I'll send you an IM. Sorry to bee cheeky, but this could have a really massive impact on what I do next!

Cheers

Jamie