BOI investment interest rate / restructure

R

rodger

Guest
Hi

Is any else paying 5.7% on investment mortgage?

The BOI is looking to rearrange the mortgage due to arrears.

But the main reason for the arrears is the high interest rate.

If I was paying say 4% I could manage.

Interest only period has expired and BOI is insisting on some capital repayment which is unrealistic.

So when you consider 5.7% on the capital. And then some of the capital the repayment on the investment property is €2,400

Rental income is €1200

If I was on a lower interest rate and interest-only I could manage (that would be approx €1200).

Do other investors find BOI unreasonable?
 
Does no reply mean nobody else is paying 5.7%

I can see on the BOI website they have a top rate of 5.65%

Not much in the difference but why am I being penalised

I was with ICS before merge with BOI . That might explain it.

With negative equity is there no hope of switching to a better rate?
 
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