BoI cut my SVR when I told them I was moving to KBC

I was on to BOI again this morning and the only offer they would make is the 3.8% fixed. They would do absolutely nothing on the variable from my current 4.35%. Letter of Offer with KBC but held up due to clause in it that needs clarification, but should be done by the end of the week and then moving to KBC full stream ahead

Very frustrating that BOI appear to be offering 3.9% SVR to certain customers but not to others with a LTV below 60% !
 
Just to update I had turned down boi offer to accept fixed rate for 2 years @3.8 per cent . Today they rang to say they are reducing my svr to 4 % (currently 4,5%)
I've told them about kbc 3.55% but they won't budge any further.
 
On 18th March BOI reduced my SVR from 4.25% to 4% as I said I was moving to KBC.
Last Monday I got at them again and they have just confirmed a further reduction to 3.9%.
My mortgage is over 300,000 euro so everything counts.
If you have a BOI SVR just put the pressure on them and don't give up.
There is no point in me fixing at 3.8% as I believe the SVR campaign will produce further reductions.
 
Hi All,
I rang BOI last week and threatened to move to KBC. I told them I was aware of other people getting "deals" and wanted a reduction. She tried to steer me towards one of their fixed rates but I said I wanted to stay on SVR.The girl advised that she would forward my query to their business retention team. I waited a week and they got back to me to say that they would reduce rate from 4.5 to 4%. I stated that I was aware of people getting 3.9%. She said that this was not the case and I had done well to get 4%. She said usual reduction is to 4.3%. I will move to kbc as soon as I get a handle on my overdraft
 
I have just received confirmation by post that BOI have now reduced my SVR from 3.9% to 3.6%?
Not worth moving to KBC but by putting constant pressure on my bank manager I have moved from 4.25 to 4 to 3.9 to 3.6 in 2 months.
A big thank you to BB and fellow posters.
I am not finished yet and will update.
 
Clonback, That is a great outcome! Am in a similar position paying 4.05% SVR. We are not in arrears and actually overpaying our repayments with LTV of less than 75%. I threatened moving to KBC. The best BOI came back with was offering a 2 year fixed at 3.8%. Just wondering what you have done different to get this result??
 
I dealt directly with my local BOI branch manager who obviously pushed my case with the pricing unit.I emphasised I would prefer to stay with them rather than move.I still believe BOI is better for me long term rather than KBC.
 
That's a great result, clonback. I contacted boi by phone again today and they said they would not reduce our mortgage any further. Ours was reduced from 4.3 to 4 variable.(We regularly go into overdraft never more than 1k per month) I'm waiting for all my bank statements for submission to kbc but I'm concerned that as we are regularly overdrawn and have credit card debt of about 7k that we won't look good on paper to kbc. What do ye think? I have never met the bank manager of my branch in drumcondra. Do you think it's worthwhile going in to see the bank manager?
 
I know my manager for 2 years so that was important in getting the reductions.Also I have borrowings of c.30%.
I suggest meeting the manager and putting your best case forward.Try and get the credit card in better shape and then try Kbc.Whats your Ltv?
 
I rang BoI 2 weeks ago stating I was unhappy with the SVR I was paying (split mortgage 2yr fix/float taken out in 2012 recently paying SVR 4.05% and 4.5%), and told them I had contacted KBC and was considering moving my business. A letter arrived in the post yesterday confirming they have amended the SVR to 3.8% for both amounts outstanding, LTV <=60% with effect from June repayment. Their website still shows 3.9% variable mover rate for LTV <=60% but looks like the 0.25% cut is happening. A good start but more to come I think.
 
I'm in a similar position to yourself. I have a split mortgage taken out in 2013. I'm paying 4.3% (SVR) and 4.69 (Fixed) respectively. I've been offered 3.9% SVR with a fee to break out of my fixed rate (approx 1.5 years left on fixed term).

Did BOI accept a recent market valuation to bring LTV < 60 or was LTV < 60 when you took out your mortgage in 2012
 
No valuation needed, just a phone call. The mortgage in 2012 was based on 70% LTV and property value would have increased after works and market stability.
 
BOI won't seem to budge with me from the 4.5% SVR even though I am currently on >80% SVR LTV while they are offering me a <60% LTV fixed rate. Thinking of switching to Fixed for the reduced rate. . . .
 
Hi Clonback, is that 3.6% APR on your SVR with Bank of Ireland or 3.9% APR? Just looking at the current rates they have on their website.
Thanks
 
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