Will BOSI/ Pepper give me a reduction for early repayment?

Discussion in 'Issues with tracker mortgages' started by sazz80, Mar 3, 2017.

  1. sazz80

    sazz80 New Member

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    1
    Hi,
    We currently have a property we want to sell and are not in negative equity and have never missed a payment. The rate is .2 above the ecb. We wrote a letter to Pepper 12 months ago asking for a discount on settlement and got a letter saying no. There is approx 185000 left on the mortgage and payments are 720 per month. The property is worth 340000. We have bought another property and need the equity from the house to refurb new house and repay a loan so we must sell.
    Do you think it is worth rewriting another letter to Pepper, maybe asking for a refinance package or would there be a clause in that preventing us selling or could be ask again for an early settlement package? Thank you.
     
  2. gimp

    gimp Frequent Poster

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    Pepper will not negotiate by all accounts. Remember you will never get a loan at this rate again so worth trying to hang on if you could
     
  3. Brendan Burgess

    Brendan Burgess Founder

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    33,034
    Are you sure it's just 0.2% ? The lowest I had ever seen was 0.5%.,

    At 0.2%, it's almost free money.

    Brendan
     
    Carnmore likes this.
  4. corktim

    corktim Frequent Poster

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    If the sale of the house will clear the mortgage in full you can forget about it. If they think they can get all their money back they will stick to their guns.
     
  5. peemac

    peemac Frequent Poster

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    Don't Pepper just administer the loan on behalf of Danske Bank?

    If so that would mean that they probably don't have any say in it.
     
  6. Gordon Gekko

    Gordon Gekko Frequent Poster

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    2,271
    This loan seems to be with BOSI rather than Danske.

    I have a tracker with Danske and as I understand it they're happy to let the Irish book run to maturity.
     
  7. cremeegg

    cremeegg Frequent Poster

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    You certainly will not get a discount. Trying paying very little or nothing for 5 or 6 years. Then you will probably get a discount.
     
  8. peemac

    peemac Frequent Poster

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    And a bad credit record :(
     
  9. peemac

    peemac Frequent Poster

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    Meant bosi too - both seem to be administered by pepper as opposed to the loans being owed to them.

    So unlikely to be a deal or even transfer