BOI Cashback requires me to be 6 months with ptsb?

[pauseforthought]

We are in the process of moving house (both selling and buying). We had hoped that we might be in a position to drawdown with PTSB, obtain the 2% cashback, and then almost immediately remortgage into BOI and obtain the 2% cashback there.

However, the manager in BOI has told us that we would need a minimum of 6-12 mortgage repayments with PTSB before BOI would accept a remortgage into BOI.

Has anyone seen this before? We had heard that PTSB would apply certain conditions to cashback eligibility but had not heard this from BOI.

 

[Sunny]

We are in the process of moving house (both selling and buying). We had hoped that we might be in a position to drawdown with PTSB, obtain the 2% cashback, and then almost immediately remortgage into BOI and obtain the 2% cashback there.

However, the manager in BOI has told us that we would need a minimum of 6-12 mortgage repayments with PTSB before BOI would accept a remortgage into BOI.

Has anyone seen this before? We had heard that PTSB would apply certain conditions to cashback eligibility but had not heard this from BOI.

It has nothing to do with cashback. You are looking to take out a new mortgage with BOI. They are looking for a minimum 6 months repayment history on your mortgage. Its pretty standard.

 

[Zion2022]

We are in the process of moving house (both selling and buying). We had hoped that we might be in a position to drawdown with PTSB, obtain the 2% cashback, and then almost immediately remortgage into BOI and obtain the 2% cashback there.

However, the manager in BOI has told us that we would need a minimum of 6-12 mortgage repayments with PTSB before BOI would accept a remortgage into BOI.

Has anyone seen this before? We had heard that PTSB would apply certain conditions to cashback eligibility but had not heard this from BOI.

Had the same issue. It’s nothing to do with cashback. BOI just seem to quite strictly require 6 months payments to allow you to move to them.
No broker would touch us until we had 6 months payments as they said all banks were same as BOI.
In the end I called AIB directly and moved within a few weeks. We were with PTSB for all of 10 weeks, got the cashback and moved on without penalty to a 5 year 2.10% fixed.

We had planned to hop around all the cashback offers like you but in a rapidly rising rate environment it was too risky. I would say the main banks still have another bit to go with rises so I’d be inclined to get yourself the lowest rate on the market now and leave the cashback harvesting until rates are stable again.