BOI and the mortgage works

justice4people

opinions4u wrote: »

No. They are in the business of managing down a mortgage book that they've acquired and exploiting as much profit as they think they can get away with.

Yes, understand that they are in the business of making money- however, they were fully aware of the debt they were acquiring. Seems like poor customer service to treat acquired customers with such forced charges especially, as the SVR rates for existing Nationwide customers is set at a lower rate. Why the difference in treatment?

It is a about people as those that can move will and those who are having to remain will be ripped of by the TMW.


Which raises the question about why was the BOI rate so low? What compelled them to keep it low and why has that now changed?

I understand that the interest rates for the BOI were based on their country interest rates which were low compared to the UK.

(Don't forget, 4.79% is still well below what you ever expected the SVR to be)

I don't consider '4.79% SVR to be well below what I expected it to be' because I have been paying a 2.99% SVR.

StevePotter

Thrugelmir wrote: »

For fixed term products.

eh?? They are not products, they are SECURED LOANS! Please don't push banking Liar Loan language, banks produce f**k all!

Scary_

I've only discovered this today, although I knew my mortgage was being transferred a few weeks ago. The thing is that the mortgage I started with wasn't even a BOI one, it was with Bristol & West so this is now the third company it's been with.

I started with a 3 year fixed rate at over 6% so dropping down to the 2.99% was nice but even so I'm annoyed that it'll be up to 4.79% in 3 months. I'm really surprised they're allowed to do this, even though in real terms it won't cost me that much more per month (my mortgage is under 70,000) it would cost me even more to move elsewhere

justice4people

Hunt to find account holders of BOI transferred to TMW.

If you like me are affected please contact:
Mortgage hike to hurt 14,000 homeowners with the Bank of Ireland



This is Money's mortgages editor Simon Lambert is investigating this issue further. Please email him at editor@thisismoney.co.uk, marking Bank of Ireland and Simon Lambert in the subject line.


Please reply as we need as much support on this as possible. We only have a couple of months to raise full objection on this matter with TWM.

justice4people

Hunt to find account holders of BOI transferred to TMW.

If you like me are affected with these hikes please contact:
Mortgage hike to hurt 14,000 homeowners with the Bank of Ireland



This is Money's mortgages editor Simon Lambert is investigating this issue further. Please email him at [EMAIL="editor@thisismoney.co.uk"]editor@thisismoney.co.uk[/EMAIL], marking Bank of Ireland and Simon Lambert in the subject line.


Please reply as we need as much support on this as possible. We only have a couple of months to raise full objection on this matter with TWM.

property.advert

Scary_ wrote: »

..... in real terms it won't cost me that much more per month (my mortgage is under 70,000) it would cost me even more to move elsewhere

Why do you think it would cost you to move ? You may well be right but don't just sit there without all the true facts.

St_Anthony

I too have a BOI Mortgage and received a letter from The Mortgage Works informing me that in March my mortgage repayments would in real terms increase 62.42% !!!!

The reply I received to my complaint from The Mortgage Works Customer Services, signed Elizabeth Saunders has a phone number for contact 01064 855634 that is a non-existent number.

What they are doing is a deliberate attempt to rip-us off. I am livid.