Bank of Ireland tracker mortgage % increase

Pobinr

Graham_Devon you are wasting an awful lot of people's time.

I've started a thread for BOI tracker mortgage holders to share information here https://forums.moneysavingexpert.com/discussion/4477465

leveller2911

Its ironic how BTL's "lorded" it up, increased the rents they charged to their tenants when their borrowing costs were at an all time low purely to maximise profit.

Was that ethical?, was it fair and morally right?, "Its a business and we are in it to maximise profit" they reply.

Now the banks are raising the rates to what the vast majority of people would regard as "competitive" they don't like it shouting "its not fair,its immoral and unjust"...........

You couldn't make it up.

Graham_Devon

leveller2911 wrote: »

Its ironic how BTL's "lorded" it up, increased the rents they charged to their tenants when their borrowing costs were at an all time low purely to maximise profit.

Was that ethical?, was it fair and morally right?, "Its a business and we are in it to maximise profit" they reply.

Now the banks are raising the rates to what the vast majority of people would regard as "competitive" they don't like it shouting "its not fair,its immoral and unjust"...........

You couldn't make it up.

More ironic is the property118 forum, complaining of lack of regulation on these loans, stating they weren't told they didn't have the same type of cover as a residential mortgage, therefore, mis-sold.

Landlords moaning about the lack of regulation all of a sudden. Brilliant!

Amused me that a new thread has been started in order to ignore anything which doesn't applaud the theory that everything is always someone elses fault.

splitbus1965

Could somebody please tell me if this increase is on the bank of ireland flex mortgage???Ive not had a letter from them,i originally had my mortgage with bristol and west,what than changed to bank of ireland,very worried this is my 8th year with the morgage

smiffy

splitbus1965 wrote: »

Could somebody please tell me if this increase is on the bank of ireland flex mortgage???Ive not had a letter from them,i originally had my mortgage with bristol and west,what than changed to bank of ireland,very worried this is my 8th year with the morgage

Was it taken out before October 2004?

splitbus1965

unsure how can i find out???

splitbus1965

just found paper work now it was taken out may 2005

brit1234

Pobinr wrote: »

If the Bank of Ireland move the goal posts & succeed in getting away with it then it will cost me £3800 a year in extra mortgage payments & there are no alternative products at 1.75% over base I'm being charged by Bank of Ireland at present as was agreed when the mortgage was taken out.
So your suggestion of switching to another lender as a solution is not feasible.

So its either:

1. Stick with BOI on the low 4.99% rate and no fees.
2. Sell your buy to let if you can't afford to keep it.

There's not much more you can do, the bank has the legal justification to raise the rates.



You have been complying with the rest of the mortgage conditions of having a parallel investment fund to pay off the mortgage when the interest only ends?

smiffy

Mark_Alexander wrote: »

There is lots of useful advice from over 100 affected borrowers on a thread at Property118 dot com - sorry, I'm a new user so can't add a link

This one....

http://www.property118.com/index.php/bank-of-ireland-increase-differential/37002/

brit1234

Mark_Alexander wrote: »

There is lots of useful advice from over 100 affected borrowers on a thread at Property118 dot com - sorry, I'm a new user so can't add a link

Please stop spamming this site, if you have useful information post it here. Stop trying to divert people to your own site for personal gain.