Switching to a Green mortgage with the same bank.

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Brandy

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We took out a fixed rate mortgage with BOI for 10 years at 3.3% thinking it was a good deal with 50% LTV.

Was speaking to a customer service person in the bank in a casual way and she was saying about a green mortgage. This mortgage came out about 3 months after we took our out.

We bought a new house with a high BER rate and would qualify for this. Just wondering is there any reason why I couldn't switch.

I've called a few times about what I could do about rate and this was never mentioned.
Any advice would be great.
Thanks
 
As far as I know, the BOI green mortgage rate is only available on new lending, and not existing balances.
You'd be better calling them to ask what your options are.
 
RedOnion said:
As far as I know, the BOI green mortgage rate is only available on new lending, and not existing balances.
You'd be better calling them to ask what your options are.
Click to expand...

Yeah I was afraid of that. Just missed it by a few months. Trying to get through there now but now joy.
 
Can you switch to someone else entirely, they might change their view then? AIB allow switching to green. Had not heard of these loans, is there a logic other than promoting more efficient housing? Seems unfair on those who buy an older home, sort of suggests that anything with a lower BER represents more risk?
 
Yeah I don't understand why it gets a preferential rate. And like if they do why can't I get it now!?

€19,000 to break out of it. Bit too much to switch!
 
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