Will Bank of Scotland offer me a discount for early repayment?

[Patty C]

Hi. Not so sure if this is a general threat or not but feel redirect me if im not in the right area:

I hope this has not been covered elsewhere on the site, in any case.


I have a tracker mortgage with BOSI with a balance of €78,000, 6 years into a 20 year agreement. Im looking at clearing the balance with a possible inheritance or may well sell the property next year. The property is valued at €320,000. if there any reason to think I would get a % reduction if cleared. i will not be looking for a mortgage in the future, due to my age and income this is out of the question.

Observation appreciated
C

 

[Billy Baltic]

Hi. Not so sure if this is a general threat or not but feel redirect me if im not in the right area:

I hope this has not been covered elsewhere on the site, in any case.


I have a tracker mortgage with BOSI with a balance of €78,000, 6 years into a 20 year agreement. Im looking at clearing the balance with a possible inheritance or may well sell the property next year. The property is valued at €320,000. if there any reason to think I would get a % reduction if cleared. i will not be looking for a mortgage in the future, due to my age and income this is out of the question.

Observation appreciated
C

Hi Patty, I think the general concensus on these is to make a proposal to the bank in writing. The worst they can say is no. Since BOSI is trying to exit/have exited the Irish market you may have a better chance of getting a positive outcome. On the other hand the low balance on your mortgage means you're not really their biggest problem.