# Paying off a BoSI tracker mortgage early



## Deano (15 Jul 2015)

Hi. I've done some digging on the forum but havent found anything recent about this. We are currently looking at moving home and I believe that some people have had success paying off their BoSI tracker mortgage early at a discount because they are costing the lender money. We are in a position to get a short term loan from my parents to hopefully save some money going into our new mortgage (whenever that happens!).

The mortgage is a 15 year, €160k tracker drawn down in Jan 2008. We now have approx. 7.5 years to go, the balance is approx. €85k and the current interest rate is 0.65%.

Does anyone have any suggestions for what I can do here? Is it a simple matter of calling them and chancing my arm? What would be a realistic offer to make??

Thanks


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## Sarenco (15 Jul 2015)

http://www.askaboutmoney.com/threads/write-down-on-tracker-mortgage-bos.194814/

I think you need to brush up on your digging skills - this topic was raised last Monday!


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## Deano (15 Jul 2015)

Sarenco said:


> http://www.askaboutmoney.com/threads/write-down-on-tracker-mortgage-bos.194814/
> 
> I think you need to brush up on your digging skills - this topic was raised last Monday!



LOL - it's all about what you search for I guess! Thanks for the pointer


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## Sarenco (15 Jul 2015)

Deano said:


> LOL - it's all about what you search for I guess! Thanks for the pointer



No problem at all.

Even with the benefit of hindsight, it's hard to believe somebody thought it was a good idea to lend at such a low margin in 2008.  Let us know how you get on if you decide to request a discount (I definitely would if I was in your shoes).


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## Deano (15 Jul 2015)

Sarenco said:


> No problem at all.
> 
> Even with the benefit of hindsight, it's hard to believe somebody thought it was a good idea to lend at such a low margin in 2008.  Let us know how you get on if you decide to request a discount (I definitely would if I was in your shoes).



Well, I will call and ask - nothing to lose. He who dares and all that!

I just wondered if there was a good way to approach it. I'm going to tell them that I have savings and not that I am moving house. I'd need to pay off the mortgage anyway in that case!!


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## Monbretia (15 Jul 2015)

I'd be more inclined to tell them you were refinancing elsewhere, I have seen a small reduction given to someone with a buy to let that just borrowed the money elsewhere to pay off BOS, I can't remember how much of a reduction they got unfortunately.


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