# BOSI tracker now with Pepper any discounts???



## Frank (7 Jul 2018)

Just got a letter yesterday to say my tracker is now with pepper

Haven't had a chance to ring them yet.

Somewhere I lived when we entered the drop, now a rental back in positive 

worth 215 I owe about 185 
10 years left on an interest only tracker.

Plan was to sell up in the next few years anyway renting isn't worth the hassle.

I was just wondering are they doing discounts for ordinary punters?

If I could get a discount on the mortgage it could be worth getting out now.

The tracker has to be a pain for them at 1.5% above ECB.


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## Frank (9 Jul 2018)

OK update I talked to pepper 

The transfer has not happened as yet , September or October this year.

BOS are not offering discounts currently 

There is no indication pepper will offer discounts after ;-( 

Pity only banks and big players get discount and not ordinary punters


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## RedOnion (9 Jul 2018)

You've a performing mortgage, in positive equity, at a 1.5% margin. How much discount do you expect they sold it at?

If you said a 0.6% tracker, in negative equity and 2 years arrears you'd have some hope...


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## Frank (9 Jul 2018)

Hey worth a question, 

So do I suggest I stop paying my mortgage Red???
Come back to them in 2 years.


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## RedOnion (9 Jul 2018)

No, you'll risk them repossessing it as house value is more than mortgage.

My point was the buyer fund didn't get the discount you're imagining. Your mortgage is in a portfolio of 'good' loans. Ok, the margin isn't brilliant, but it's the norm in other countries. And they've a 10 year history of you paying this, even through a crisis. They know you're good for it.
Its a good investment. The fund that bought it have valued it at least 97% of it's value.


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## Frank (9 Jul 2018)

tongue in cheek on the not paying, as you say managed it through the bad times.

Why would BOS sell if there is money to be made even if the margin is tight or normal by rest of EU standard?


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## TheFatMan (14 Jul 2018)

Great question! Was pondering this myself. Have a ECB+ 0.55% tracker from BOSI going to Pepper too, never been an issue with late payment etc. We’re some of the lucky ones. Was hopping Pepper might want to make a quick turnover here on a loss leader mortgage. Under new GDPR guidelines would a mortgage holder not be entitled to know what Pepper is paying? I know the mortgages are bundled but commercially pepper would be crazy not to entertain offers and realize gains on a mortgage they are effectively going to lose on in the 10 years remaining!


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## IdesofMarch (15 Jul 2018)

RedOnion said:


> No, you'll risk them repossessing it as house value is more than mortgage.
> 
> My point was the buyer fund didn't get the discount you're imagining. Your mortgage is in a portfolio of 'good' loans. Ok, the margin isn't brilliant, but it's the norm in other countries. And they've a 10 year history of you paying this, even through a crisis. They know you're good for it.
> Its a good investment. The fund that bought it have valued it at least 97% of it's value.



Where did you get that figure from?


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## TheFatMan (31 Jul 2018)

IdesofMarch said:


> Where did you get that figure from?



Agreed 97% of value would strike me as a poor deal even on performing mortgages like mine. 
I would have expected Pepper would pay 70-80% of value.


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## RedOnion (31 Jul 2018)

TheFatMan said:


> Agreed 97% of value would strike me as a poor deal even on performing mortgages like mine.
> I would have expected Pepper would pay 70-80% of value.


Firstly, Pepper didn't buy your mortgage. A Barclays fund did.

The OP was a 1.5% tracker, which is what my calculations were based on.

For the fund buying it, that's worth a great deal more than your 0.55% tracker.

Publicly available information suggests they paid 93% of par value across the entire portfolio. That's with an average margin of 0.8%, and a small percentage of non performing loans.

If they're going to offer any deals, you've a good chance of getting one. But it probably won't be worth your while if you have to refinance elsewhere.


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## Frank (10 Aug 2018)

not looking to refinance 
tired of being the most evil foul member of society according to gov and the press

If a deal on the mortgage would allow me to sell my rental I would bail out.
If I can clear a few dollars to dent the mortgage at home all the better.


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## Brendan Burgess (10 Aug 2018)

Frank said:


> tired of being the most evil foul member of society according to gov and the press



Hi Frank - a very good description of the public perception of the landlord. 

Brendan


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