BOI 1% cash back after 5 years

[Sir Bob Paisley]

Hi,

On 6th September we will be 5 years with BOI and due another 1% cash back.

I’m ready to move to Finance Ireland so can I push the button to move on 6th September or do I need to wait for the 1% to be lodged into my account.

What are other’s experiences with the 1% and how is it communicated?

Regards, Bob

 

[Brendan Burgess]

I imagine you have fulfilled the conditions of the deal on 5th Sept, so press the button on the 6th.

Brendan

 

[BusyAtMaths]

I imagine you have fulfilled the conditions of the deal on 5th Sept, so press the button on the 6th.

Brendan

I

Hi,

On 6th September we will be 5 years with BOI and due another 1% cash back.

I’m ready to move to Finance Ireland so can I push the button to move on 6th September or do I need to wait for the 1% to be lodged into my account.

What are other’s experiences with the 1% and how is it communicated?

Regards, Bob

We're in the same boat. 1% cashback due after 5 years.

I spoke to BOI on Friday.

You must retain mortgage (& current ac) with BOI up to and including the anniversary date in order to qualify.

Cashback will be lodged 45 days afterwards.

Tell solicitors to move on 7th September.

 

[ArthurMcB]

I imagine you have fulfilled the conditions of the deal on 5th Sept, so press the button on the 6th.

Brendan

In theory I wonder cohkd the OP have left boi soon after original drawdown and still be entitled to the 1% cb after 5 years? I read in another thread that, when you drawdown you are fulfilling the terms and the bank cant refuse the 1% after 5 years because those were the terms at point of drawing down.

 

[Paul F]

In theory I wonder cohkd the OP have left boi soon after original drawdown and still be entitled to the 1% cb after 5 years? I read in another thread that, when you drawdown you are fulfilling the terms and the bank cant refuse the 1% after 5 years because those were the terms at point of drawing down.

If you're referring to the thread about 1% future cashback from EBS even if you switch to their green rate, you are misunderstanding that thread. If you leave BOI before the five years are up, you don't get the 1% cashback.

 

[Sir Bob Paisley]

Hi my solicitor is telling me that In order for us to be able to drawdown for that day (8th Sep) I will need to order a redemption figure from BOI in advance. Will this make any difference for getting the 1%. 5th anniversary of drawdown is 6th September

 

[Brendan Burgess]

Bob

Your solicitor should have the BoI mortgage contract. They should read it and tell you the answer.

Brendan

 

[Paul F]

Hi my solicitor is telling me that In order for us to be able to drawdown for that day (8th Sep) I will need to order a redemption figure from BOI in advance. Will this make any difference for getting the 1%. 5th anniversary of drawdown is 6th September

Your solicitor should have the BoI mortgage contract. They should read it and tell you the answer.

@Sir Bob Paisley Yes, base your decision on what your BOI mortgage contract says and not what BOI's website says – including the date you started your BOI mortgage. You need to be 100% sure that 6th September really is the mortgage start date.

Although I can't see how merely requesting a redemption figure in advance of the 6th but redeeming (paying off) the BOI mortgage after the 6th would be a problem for getting the 1% cashback.