Skyler White
Registered User
- Messages
- 21
I have commenced the process of seeking a better rate for our mortgage after allowing BOI murder us with a 4.5% rate since 2014 (I know, I know!). I called them this morning saying that Ulster Bank are offering 2.3%. However the lady in BOI replied saying that the best they can offer me is 2.9% fixed for 2 years. No movement on the rate or the duration. I asked could the 2.9% extend to three years or could I get 2.8%. The representative was quite adamant that 2.9% for two years was the only offer. I was quite persistent too and said right I'll call all of the other banks and ask what they can do for me as I intend to switch. She replied "no problem".
I'm usually good at negotiating preferable rates with insurers etc. but this woman would not budge! Any suggestion as to why I was not successful?? We have 29 years left, borrowing €240,000 approx. Value of House €390,000 approx. Only issue I can think of is that I couldn't get mortgage protection at the time of draw down due to a (managed) health condition I have - would the representative have this information readily available to her when I phoned and would that be a significant factor. I remember at the time when we were seeking a mortgage AIB wouldn't quote us, so I was grateful that BOI gave us a mortgage at all! We are both long-term customers of BOI but I know that's pretty irrelevant.
Grateful for any guidance. Many thanks.
I'm usually good at negotiating preferable rates with insurers etc. but this woman would not budge! Any suggestion as to why I was not successful?? We have 29 years left, borrowing €240,000 approx. Value of House €390,000 approx. Only issue I can think of is that I couldn't get mortgage protection at the time of draw down due to a (managed) health condition I have - would the representative have this information readily available to her when I phoned and would that be a significant factor. I remember at the time when we were seeking a mortgage AIB wouldn't quote us, so I was grateful that BOI gave us a mortgage at all! We are both long-term customers of BOI but I know that's pretty irrelevant.
Grateful for any guidance. Many thanks.