Anyone switched to BOSI

[Lulu123]

Hi there,
Just wondering if anyone has successfully switched their to Bank of Scotland. Really want to do this as it will save 140 per month for us but wondering if it is a lot of hassle. Currently with BOI and would like to hear feedback from someone who has switched

thanks
Lulu

 

[asdfg]

I switched a few years ago to BOS as they had the best rate then. Contact BOI and tell them what you intend to do and the rate offered, see if they wiil lower their rate. Legal fees to switch are about 1K
Have you tried Northern Bank. Relaunched in Ireland recently.

 

[CCOVICH]

I switched a few years ago to BOS as they had the best rate then. Contact BOI and tell them what you intend to do and the rate offered, see if they wiil lower their rate. Legal fees to switch are about 1K
Have you tried Northern Bank. Relaunched in Ireland recently.

By Northern Bank, I presume you mean National Irish Bank, who have been here for quite some time, but have launched new products as of April 18 (although nothing on mortgages yet), as part of their integration into the Den Danske group.

There is a thread on the best value switcher mortgages in the Best Buys forum, although it needs some work. You can probably switch to certain providers for little or nothing, and there doesn't appear to be much hassle involved.

Brendan has been pushing INBS lately, as you have a good chance of a windfall when/if they demututalise, check out the Demutualisation forum for more details.

On BoSI, I have said before that when it comes to mortgages, customer service probably isn't that important in the long run (that's only my opinion), so if it saves you money, go for it.

 

[JohnnyBoy]

Excuse my ginorance ,but Ulster Bank are part of Bank of Scotland.I switched from Perm TSB to Ulster Bank.They advertise on the radio,that it can be done very speedily-rubbish,took about 5 weeks(Perm TSB & brokers slowed it down a bit).However I would advise to grit your teeth & swith-except that you're tied in for 4 years!

 

[Art]

Afaik Ulster Bank are part of the RBS (Royal Bank of Scotland) group where BOSI are part of the HBOS group. Confusing I know........

 

[irishpancake]

Hi there,
Just wondering if anyone has successfully switched their to Bank of Scotland. Really want to do this as it will save 140 per month for us but wondering if it is a lot of hassle. Currently with BOI and would like to hear feedback from someone who has switched

thanks
Lulu

Hi Lulu

Is the €140 based on their discounted Tracker Rates? (0.55% below their Standard Tracker based on your LTV). [broken link removed].

As you probably know, this is for a two-year period, after which you revert to the Standard Tracker appropriate for your LTV.

As for NIB-Danske, Brendan has posted this regarding their plans for new mortgage products in May.

I would wait and see what they are offering.

Just on the legal costs of switching, BoSI offer €1000 plus €150 for valuation.

AFAIK, NIB-Danske presently only offer switcher finance to those opening certain current account products, which have a fixed quarterly fee, as shown here for their [broken link removed] product.

 

[irishpancake]

However I would advise to grit your teeth & swith-except that you're tied in for 4 years!

IMHO I don't think that's quite correct

What does apply is a claw-back of the legal fees if you switch away from UB within a 5-year period, as shown [broken link removed].

Prima Finance offer a switcher service with no claw-back, details [broken link removed].

 

[CCOVICH]

Afaik Ulster Bank are part of the RBS (Royal Bank of Scotland) group where BOSI are part of the HBOS group. Confusing I know........

Correct. Ulster Bank have absolutely no relationship with Bank of Scotland/BoSI/HBOS.

 

[CathyK]

Moving to BOS is a good move, however be prepared for it to take some time, it is currently taking them about 2 weeks to get back to you with an agreement in principle, you should allow another 3/4 weeks for a letter of offer, and another 3 weeks for cheque issue, and all this is assuming that the paperwork is all given in from the outset, however even with all this, it is worth the savings thats offered.