It seems that some former Bank of Scotland borrowers are getting offers from Tanager, who bought the loans, of discounts of 40% if they move to another lender. Homeowners could see €160k written off mortgage as vulture fund offers huge discount One offer letter seen by this newspaper outlined to a person with tracker mortgage that was originally taken for with €400,000 that Tanager is prepared to write off €160,000 of the mortgage if the homeowner buys it out. It was sent by Lapithus, an associate of Tanager-owner Apollo. The letter states that "in response to current market conditions, we understand that some of our customers may wish to refinance with another lender, as they may want to move or borrow additional money and that we are unable to assist them". "We have undertaken a review of our mortgage loans and we are delighted to confirm to you that, to facilitate such an arrangement, we would be in a position to offer you a discount on your loan should you wish to refinance with another lender or otherwise repay your mortgage early." The deal means that if the homeowner can get a new mortgage, they would have to borrow €240,000. The house is currently worth €380,000.