Considering a mortgage with BOI

Discussion in 'Mortgages and buying and selling homes' started by guest2004, Apr 13, 2017.

  1. guest2004

    guest2004 New Member

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    9
    Most discussion on this forum has disregarded BOI because they weren't very competitive up until recently. I'm considering going with BOI for my mortgage and just looking for any opinions positive or negative.

    With a LTV >80% I could get a fixed rate of 3.55% for 1, 2 or 5 years or 3.45% for 3 years. There's 2% cash back up front and a further 1% in 5 years. As long as I don't end up paying their very high standard variable rate for some reason, this seems to be a relatively good deal.

    Also, I'm not sure how long to fix for. If I choose 1 year, I may be in a position to get to <80% LTV in a year and maybe I could switch to a better fixed rate (has anyone done this with BOI?). 3 years offers the best rate initially so its worth considering. 5 years gives certainty right up to the point where I'd get the extra 1% cash back.
     
  2. sellornot

    sellornot Frequent Poster

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    50
    Don't do it with BOI
     
  3. guest2004

    guest2004 New Member

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    9
    Any reason why not?
     
  4. Maxed123

    Maxed123 New Member

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    9
    I am also considering boi. Aib won't look at us and boi have the most favourable rate for us 3.45 fixed over three years.