Update on BOSI cheap tracker.
Despite my previously declared intention to write to Certus making them an offer to pay off my tracker, I have not actually done so.
Partly because I am a lazy sod and partly because I could not decide on a plan that I really believed in.
Brendan suggested that I would need to be offering around 90%. Well I would not be interested at that level.
Others had suggested 30%. That would be nice, but it is hardly credible.
So to the update.
Last week I got a letter from them. Headed "Important information about repaying your interest only full term mortgage"
They outlined 5 possible options
. Changing your interest only mortgage to capital and interest repayments.
. Changing a portion as above
. Making overpayments
. Making lump sum payments
. Other options may be available depending on your financial circumstances
Not the most clear cut letter I have ever received, but it is interesting to see that they seem to becoming interested in these loans.
Any ideas what, "Other options may be available depending on your financial circumstances" might mean.
Does it mean if you are in deep trouble we might give you a break,
OR
does it mean if you can afford to redeem the mortgage we might give you a discount.
Any insights welcome
Despite my previously declared intention to write to Certus making them an offer to pay off my tracker, I have not actually done so.
Partly because I am a lazy sod and partly because I could not decide on a plan that I really believed in.
Brendan suggested that I would need to be offering around 90%. Well I would not be interested at that level.
Others had suggested 30%. That would be nice, but it is hardly credible.
So to the update.
Last week I got a letter from them. Headed "Important information about repaying your interest only full term mortgage"
They outlined 5 possible options
. Changing your interest only mortgage to capital and interest repayments.
. Changing a portion as above
. Making overpayments
. Making lump sum payments
. Other options may be available depending on your financial circumstances
Not the most clear cut letter I have ever received, but it is interesting to see that they seem to becoming interested in these loans.
Any ideas what, "Other options may be available depending on your financial circumstances" might mean.
Does it mean if you are in deep trouble we might give you a break,
OR
does it mean if you can afford to redeem the mortgage we might give you a discount.
Any insights welcome