Thanks for your comments.
I agree that I am over exposed to property, and to Ireland. I concluded this in 2006 so I borrowed against the Irish investment properties to invest in the UK stockmarket. It was a textbook sensible decision, but I still got burned. The FTSE was at 6200 at the time.
The mortgage on my own home is ECB + 1.25%. I dont expect to move, not unless forced by financial circumstances.
Although I am overexposed to property I am not sure that selling property now is a good idea. Warren Buffet has a saying "dont just do something, stand there" that seems applicable to the Irish property investor at the moment.
I am not too concerned whether paying off the mortgage would benefit me by 1% pa.
My concerns are more strategic, is money in the bank at risk in case of a Euro crisis, if the markets are demanding 9% on Irish govt debt, getting 3% in an Irish bank which relies on Irish govt guarantee is obviously concerning.
My second reason for posting is just to get opinions on the "game" of making an offer to BOS. If I offered 95%, I think they would take it, but that would not be in my interest. If they would take 50% that would be great for me but is there any chance they would consider it.