Hi there,
Having heard a few success stories regarding some BoI customers getting SVR reductions upon threatening to move to another lender I am going to see if I can get BoI to reduce my SVR.
Current LTV:< 50%
SVR: 4.1%
Term 25 years: (22.5 remaining)
Incentive: Received 1% cashback (2014)
What is the best way to go about this though for the best outcome?
Call the bank and state my intent?
Write to the bank and state my intent?
Get solicitor to request a mortgage balance remaining redemption letter from the bank to show that I mean business?
I have read the posts regarding BoI retaining the right to clawback the 1% Cashback incentive but it seems that while they reserve the right they have never exercised it.
If I was to get a substantial SVR reduction I could be tempted to stay with BoI, but no reduction or just a token will prompt me to move.
What do folk think?
Having heard a few success stories regarding some BoI customers getting SVR reductions upon threatening to move to another lender I am going to see if I can get BoI to reduce my SVR.
Current LTV:< 50%
SVR: 4.1%
Term 25 years: (22.5 remaining)
Incentive: Received 1% cashback (2014)
What is the best way to go about this though for the best outcome?
Call the bank and state my intent?
Write to the bank and state my intent?
Get solicitor to request a mortgage balance remaining redemption letter from the bank to show that I mean business?
I have read the posts regarding BoI retaining the right to clawback the 1% Cashback incentive but it seems that while they reserve the right they have never exercised it.
If I was to get a substantial SVR reduction I could be tempted to stay with BoI, but no reduction or just a token will prompt me to move.
What do folk think?