Key Post: Important Post for Bank of Ireland mortgage customers

  • Thread starter Liam D Ferguson
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Liam D Ferguson

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This is a post from NoelC which details how he managed to get a better rate, and a tracker rate, on his Bank of Ireland mortgage by simply asking, and vaguely threatening to move his mortgage elsewhere otherwise. If Bank of Ireland have the facility to do this, other BoI customers should do the same. Obviously, Askaboutmoney cannot guarantee that other customers will get the same result. For all we know, NoelC might be a multi-millionaire jet-set playboy entrepeneur, and this (or other specifics of NoelC's circumstances) may have influenced Bank of Ireland's decision in this particular case. But it's surely worth a try.

I got ECB rate + 1.1%, on the basis that I was going to transfer to AIB's standard rate of 4.25%.

So they didn't quite match AIB's rate, but by the time you take into account all the costs of remortgaging, it was still a net saving to me.

BOI have a standard tracker product which is ECB + 1.35%, which is barely below their standard rate. So don't be fobbed off with this, tell them you want more or you'll move.
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Edited by Clubman to add link to original topic & fix typo.
 
Re: Important Post for Bank of Ireland mortgage customers

Sorry, chaps, don’t have time to respond to this one in detail at the moment, as the flight to the Caymans is just about to leave.

I really find this particular hop a drag: they just never can manage to get the on board Bolly chilled to the right temperature!!

:rollin
 
boi tracker

I hope to talk to my BoI rep. soon regarding the variable tracker, what loan to value ratio did you have to get the ECB + 1.1% deal?

thanks,
 
BOI tracker

I've just got a 92% mortgage with BOI - who droped their tracker rate to ECB + 1.15% when I said I was looking at going with Ulsterbank. So if your a BOI customer it's definately worth saying you can get a better deal elsewhere.

:)
 
Re: BOI tracker

Congratulations! Unfortunately it doesn't always work, I tried the same about a year ago and got no joy. I think the lady in question thought I was bluffing. The upshot was I moved to AIB, increased my mortgage and added PP. I also took out new life insurance to cover the higher mortgage.

Some time later when getting final paperwork from BoI I ended up talking to a staff member who sounded like she could have helped me out first time round. So try to find someone is prepared to help..
 
Similar Experience

I can also concur that BOI do offer "special rates". At the moment one of the BOI branches attached to a NUI college is offering me a Graduate package , 1.1% above the ECB which has a cost per thous of 5.59 or 5.6(at most) which beats Ulster banks, 5.62 which is the best at the moment.
 
Banks slow to tell mortgage customers of tracker deals

Banks slow to tell mortgage customers of tracker deals

BANKS have been slammed for leaving their own customers out in the cold when it comes to a highly-recommended new mortgage product. Tracker mortgages are taking the market by storm with Ulster Bank offering rates as low as 2.85pc - plus a guarantee to pass on interest cuts in full and on time.

..

One couple who contacted Your Money did just that with Bank of Ireland and they immediately moved to match Ulster, even though their standard rates are the dearest around for customers who are prepared to accept them.

Mr Dowling confirmed that customers who "bang the table" and demand better rates are often successful. He also revealed that the most expensive lenders have the cheapest short term fixed rate deals to lure customers onto their books.
 
Re: BoI trackers

I see this topic is still listed as a key post so I'll update it. Bank of Ireland have since made their tracker offerings much more competitive although according to the website the better rates are only available to new customers. Here's a summary of the current rates:

3% Bank of Ireland >200k < 60% (New Customers)
3.1% Bank of Ireland >200k > 60% (New Customers)
3.1% Bank of Ireland >500k (New Customers)
3.3% Bank of Ireland <200k > 60%

While you're at it you should visit this list of trackers
 
.

The BOI rates can be available to anyone they want to give them to, not just new customers.

I signed for the 3.1% tracker today. Changed from the 3.6% standard variable. Simply as a result of telling them that's what I could get elsewhere!
 
asked BoI for a tracker

they sent me a form the same day and I got confirmation of the 3.1% rate instead of 3.6% rate 2 weeks back in writing (it actually said variable and 3.1% so I rang them and they confirmed it is actualy a tracker on the system)

I hardly had to haggle at all but I DID mention that AIB had made me 'an offer' of 3.1% .

It sooooo easy , 01 6113333

Da WomBat

XX
 
Re: Key Post: Important Post for Bank of Ireland mortgage custome

Hi all,

I know this is an old post and might be a bit out of date I am just wondering if someone might be able to help me on this:

I have just been offered a mortgage from BOI at a tracker rate of ECB + 1.25%.

Do BOI have the power to turn this into +1.1%?

Seems to be the conclusion I'm drawing from above:)

Thanks
 
Re: Key Post: Important Post for Bank of Ireland mortgage custome

Yes they do. im getting one at 1.1% + ECB off them.
 
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