Boi Mortgage rate just increased from 3 to 4.5%!

B

Bolter

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As per title, just got notification that my boi mortgage variable rate just went from 3% to 4.5%
There is only two or three months left on this mortgage and approx 2k outstanding.
Just surprised at the level of jump for 2 maybe 3 more payments...
 
Rang them. I was put on fixed in 2018 and it's just ended. So after call they've put me on 3.9%
Not so bad!
 
leanbh said:
Rang them. I was put on fixed in 2018 and it's just ended. So after call they've put me on 3.9%
Not so bad!
Click to expand...
I think 3.9% is shockingly bad, even for a variable rate.

Ask them if you can fix it for the 3 months for sub 2.5% or so...
 
That's dreadful...

I'd pay it off, if you have the cash, or can even get a zero percent balance transfer for a few months from a (non BoI) credit card company.
 
leanbh said:
Rang them. I was put on fixed in 2018 and it's just ended. So after call they've put me on 3.9%
Not so bad!
Click to expand...
A nasty thing for a co like them to do. It's not really the money, just after all the bad PR and they still come out with this stuff.
 
I don't think I'd save an awful lot by paying what's left up front. I'll be just glad when it's finished. I suppose they can do what they like..
Don't think pr matters when two banks have a virtual monopoly on banking/mortgages in Ireland
 
Just shows what you are up against when you reach the point where your balance drops to a point where no other Bank would be interested in taking you on,
There is a message in there for open-ended mortgages,
 
And I have free calls on my mobile package deal
I wonder how much it cost the bank to send me the letter notifying me of the increase :)
What's good for the goose etc etc
 
Just to update: got notification of reduced rate today of 3.9% for the last two months of my mortgage.
Saving a total of 30 euro. (15 euro per month less than if rate was 4.5%.)
Happy enough with that.
 
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