Will Bank of Ireland give a discount for early repayment of Tracker Mortgage?

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This may have been asked already.

We have a Tracker Mortgage with BoI with a fairly low balance. I was thinking of approaching BoI with an offer of about 70% of the balance hoping they may be willing to write off the rest.

Is that just an urban myth? Are BoI actually willing to do deals?

Thanks.
 
Urban myth. What's in it for BOI?? You making an offer clearly signals that you have the money to continue servicing the existing loan. Why would they cut it early?
 
They have a reputation for no write offs. Richie Boucher, their CEO, not renowned for his willingness to be flexible with customers.
 
Performing tracker mortgages are profitable for Bank of Ireland. Their cost of funds is probably around 0.5% by now.

And they have a surplus of funds.

So they would not do a deal.

Brendan
 
I fear this is an urban myth and that NONE of the Irish banks are doing writeoffs. PTSB did have a scheme some time ago where they gave a 10% bonus writeoff on top of any lump sum payment you made to bring down Principlal - is pay off €5K and they credited you an extra €500.
 
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