Can I get cash back twice from one provider?

JohnWH

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I got cashbacks from boi nearly 2 years ago. Now I want to do switches and get cashbacks from a few of them. Thinking of going to ptsb and then ebs. Then can I go back to BoI and get the cashback off them again?
 
I managed to do this, first in 2016 and then got it from them about 4 months ago again.

It was the same property and also with BOI. I did email my mortgage advisor to confirm it first just in case. They had sent me the cash within a few days after drawdown.

Very interesting, were you up front with them when applying about having got the cash back before from them on the same house?
 
I am not sure about BOI but EBS state very clearly that the cash back offer is only available once on the same property. If you sell your house and move then EBS will give you the cash back on your new house and new mortgage but not if you switch away and then switch back again. I think Pauric may be correct about BOI and also PTSB don't say you can only avail of cash back once. Anyway it is always worth a try. Why would you tell them unless they ask. As i said before never underestimate the stupidity of the banks.
 
Am I legally entitled to the cashback once drawdown happens or is there a risk that the Lender might withhold the cashback if I redeemed the mortgage before getting the cashback?.....if you know what I mean!

Reason I ask is because I am close to the 6 month expiry with the 3rd approved offer (late June) and have just being told by the 2nd Lender that drawdown will happen early next week. So I am hoping next week to start the drawdown process with Lender 3 but am worried that if I redeem Lender 2 before cashback is processed that they will withhold it.
 
Yes Jim you are under EU law. Red Onion is an expert on this and has posted about it before. Once you draw down your mortgage you are legally entitled to your cash back and the bank will pay it out even if you transfer and switch your mortgage within 1 week. The Government and Central Bank are encouraging people to switch. The Banks are offering these cash backs to attract new business and are not worried about the 0.5% who might switch very quickly. EBS for example will only allow the cash back once on the same property but if you sell and buy a new house they will give you the cash back again on the new mortgage on the new property.
 
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I have hit BOI twice for cashback in addition to EBS and Permo. I am now looking at hitting Permo again. I have read their terms and conditions and cannot see anything in relation to this. I have contacted one of their mortgage managers who is looking into this for me.
 
I got cashback twice from KBC on the same property. Differs per bank but would not let this stop you applying for it. If you don't ask....
 
Just to add to this that KBC also stipulate that if you take out a current account with them, they will give you an extra 0.2% off your mortgage rate on the condition that your salary is mandated / paid into said current account. My salary was never paid into that account and I still got the 0.2% so I wonder whether there is any enforcement of this "condition" in reality or is it just marketing jargon.
 
Just to add to this that KBC also stipulate that if you take out a current account with them, they will give you an extra 0.2% off your mortgage rate on the condition that your salary is mandated / paid into said current account. My salary was never paid into that account and I still got the 0.2% so I wonder whether there is any enforcement of this "condition" in reality or is it just marketing jargon.
Hi, it'd be a manual review on their part to check. Ulster Bank had a similar product in the past and they wrote to customers in bulk saying the discount was being removed.
Sometimes someone seeing a post on a public forum might be enough for the right person to realise a review should be done.
 
I have hit BOI twice for cashback in addition to EBS and Permo. I am now looking at hitting Permo again. I have read their terms and conditions and cannot see anything in relation to this. I have contacted one of their mortgage managers who is looking into this for me.

hi - just curious, did you ever get a response from the PTSB mortgage manager on getting Cashback from PTSB the second time and if so have you managed to get this Cashback again?
 
hi - just curious, did you ever get a response from the PTSB mortgage manager on getting Cashback from PTSB the second time and if so have you managed to get this Cashback again?

They never actually came back to me but they have stated that your need to be with your current provider for 24 months. Seems a bit anti competitive to me!
 
They never actually came back to me but they have stated that your need to be with your current provider for 24 months. Seems a bit anti competitive to me!
You don't.....I switched to ptsb after a year. That's just their marketing guff.
 
Hi lads just wondering what your thoughts are considering the current circumstances with Covid 19 what impact might it have on myself if i was looking to do multiple switches starting next week. I have everything lined up and ready to go, been with EBS since December 2018 so about 15 months. I am ready to start calling each bank looking to switch. BOI, KBC, PTSB, AIB and Ulster for the best rate at the end. Thanks.
 
Hi lads just wondering what your thoughts are considering the current circumstances with Covid 19 what impact might it have on myself if i was looking to do multiple switches starting next week. I have everything lined up and ready to go, been with EBS since December 2018 so about 15 months. I am ready to start calling each bank looking to switch. BOI, KBC, PTSB, AIB and Ulster for the best rate at the end. Thanks.
Whats the benefit of going to AIB? They don't give cashback?
 
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