BOI would not entertain you if you ask them about lowering their variable rate. They will try to talk you into a fixed rate. At least that my recent experience with them.
There is another thread on this here already. No one should be on a variable rate with BOI. They should switch if they are in a position to do so, and fix otherwise. The lowest variable rate BOI have (to my knowledge) is 3.9%. This is not competitive in any way.
Motto for BOI customers - switch or fix !
I switched today to AIB after being fixed to BOI few years. I found the switch process smooth. 5 weeks and they transferred me the 2k today already!
Hi Doorpep
View attachment 1776
They did not get a 2% reduction. The max reduction they got was from 4.25% to 3%. So 1.25%.
But your overall point is correct. Customers of KBC , ptsb and UB can get a lower rate through a new valuation.
Customers of BoI can get a lower rate through fixing. But they can also threaten to switch and they might get a lower variable rate.
Brendan
justo, I change rates with UB over a year ago.
You ring them and ask them to send you out a letter/sheet listing the rates they offer. They send this by post.
When you get it you get it you select the rate you want and post it back ** . I think their SVR on 60-80% LTV is 3.7%
** You will probably have to get a valuation done by one of their approved valuers (about €150) and have to send this back with the new rate request.
Ask them when you are speaking to them.
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