Boi mortgage sold to Mars. Just got a letter from boi this wk.

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Boitomars

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Our boi mortgage on our family home has been sold to mars. Got a letter from boi this wk.

We currently have a tracker & a split in place for the last 5 years. Paying interest on both. What should we do next, very worried..
 
This similar thread may be of interest to you:

My BoI mortgages sold to a vulture fund. Should I be worried?

I heard today my boi tracker mortgages are being sold to Mars capital. Tracker home loan to 2035 Tracker investment loan to 2035 Tracker Investment loan interest only to 2045 Is there anything to worry about with this? They say the terms and conditions will continue. If i continue to make...
www.askaboutmoney.com
 
Hi Boitomars

You don't need to do anything but as I say in the other thread.

They cannot take your tracker from you.

But you will lose out in two ways.

1) Mars will be far more aggressive in seeking to review your split mortgage.
2) Mars do not offer alternative rates e.g. fix rates so at the moment, you are paying 5%. That is ok value for the investment properties but you could get a lower fix on your home loan.



Brendan
 
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