I did this (several lump sum capital repayments and also increased ongoing repayments) with EBS a few years back and there was no problem and no additional charges. They didn't explicitly alter the term of the mortgage. The effective term was reduced though - from 20 to about 6-7 years.I had this problem with BOSI 4 years ago - Except in my case i had more than 1 lump sum I wanted to pay off the mortgage.
Bear on mind that today the [broken link removed] will only deal with complaints once you have exhausted the specific financial institution's own complaints process, you are not satisfied with the results and you get a "ginal response" letter from them to take to the FSO.I went to the Financial regualtor - he informed me that charging €95 was illegal. He fined BoSI €500. I moved my mortgage to NIB - whom I have found to be excellent. PM me for more details.
True, but First Actives offset mortgage is currently 5.3% which, while not the lowest APR out there is not a bad rate. If you don't have a lump sum, or a regular saving, then there are definitely better rates out there.Aren't the rates on current account mortgages on offer higher than other tracker/variable rates so to just get onto a level playing pitch versus these you have no choice but to put money in the offset account in order to reduce the effective rate charged. Only after you have done this do you stand to save compared to the most competitive rate on offer?
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