BoS Tracker - Mortgage Capital Write-down - no arrears - How To?

Why would they do a deal?

@Commercial has already said they are not doing deals on Residential mortgages.

You seem to have an idea what you want from them so make them an offer and see what they say. What harm?
 
slingblade said:
Hi,
I have a tracker mortgage with Halifax Ireland of 390,000 with 30 years left.
Rate is ECB +.75.

I am not in arrears.

How do I go about negotiating a capital write-down on condition I pay them off in full?

What sort of % write down of the capital could be possible with Halifax?

thanks in advance
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On standard mortgages I have heard of no write downs whilst the customer is paying. It would make commercial sense to cut their losses and give you a circa 20% writedown as they are (giving) you money as it is. Halifax are presently wading through Commercial and Buy to Let stuff. I would think they will in time visit cost of Trackers.
If you have a few bob, lock it into somewhere like Post Office and await developments.
 
As per my other thread on this subject, I have written to BOS again today to ask them for their position on a number of different options, including any capital write down.

Will let you know their response.
 
homers said:
Hi TRS30.. have you had any feedback from BOS on the options?
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Nope; no response as of yet.

However when I was on the phone to them about an issue to do my DD's the guy was reading some notes on my file (not sure if he was suppose to be reading them out loud to me!) and one was in relation to a request for a redemption figure which is supposedly with the under writers.

So at least I know they have the request so will sit tight and wait for a response.

Will update once received.
 
Commercial said:
I am dealing with BOS/Certus on a weekly basis and they are not doing deals based on trackers on private homes to the best of my knowledge. If you were in arrears and showing distress financially, they would sell the property to a third party at market value, but it has to be an arms length transaction and not a lump sum from the mortgage holder.
So you're chances of a deal are slim to nil, unless they sell the loan book to a third party fund. They have sold only a portion of the commercial loan book to a third party, the rest is being administered by Certus.
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Hi you say you are dealing with BOS/certus, I am looking for someone to negotiate on my behalf if you are intersted
 
TRS30 said:
Nope; no response as of yet.

However when I was on the phone to them about an issue to do my DD's the guy was reading some notes on my file (not sure if he was suppose to be reading them out loud to me!) and one was in relation to a request for a redemption figure which is supposedly with the under writers.

So at least I know they have the request so will sit tight and wait for a response.

Will update once received.
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Just a quick update.

I have still not received a response to my letter sent in May to wrote them again last week with a copy of the original letter sent. Hopefully they will reply to this one!
 
Any response yet? I have 2 investment mortgages which are both interest only for the lifetime of the mortgage and are both low trackers. I wonder would I be able to do a deal.
 
LH80 said:
Any response yet? I have 2 investment mortgages which are both interest only for the lifetime of the mortgage and are both low trackers. I wonder would I be able to do a deal.
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No!

I finally rang BOSI directly last week and they confirmed they received by letter on the 2 August however no one could tell me why I didnt get a response. Someone was to ring me back in 48 hours, this day last week!

This has just reminded me that I was to ring them again. Will do it now.
 
TRS30 said:
No!

I finally rang BOSI directly last week and they confirmed they received by letter on the 2 August however no one could tell me why I didnt get a response. Someone was to ring me back in 48 hours, this day last week!

This has just reminded me that I was to ring them again. Will do it now.
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Just to update.

Finally got a response from BOSI; no apology for taking 3 1/2 months to reply!

They are not willing to offer any discount on paying off either PPR or BTL tracker. Standard blurb about they having the right to receive full repayment etc.

Guess that puts that to bed for awhile.

Is going to be a hard choice now to move house as the tracker has just got cheaper again!
 
Hi TRS30

I have just seen this thread for the first time. I am in a similar position.

In all the research I have done the one clear piece of information I have gained is that they want you to make them an offer.

e.g. I will pay you €30k in full and final settlement of my outstanding mortgage of €100k

they will then accept or reject your offer.

I intend to make them such an offer as soon as I can figure out how much I should offer. With a 25 year IO at ECB + 0.75 I will be offering them 30% max. More than that it is not worth my while

This thread is also around the same issue http://www.askaboutmoney.com/showthread.php?t=183252
 
cremeegg said:
I intend to make them such an offer as soon as I can figure out how much I should offer. With a 25 year IO at ECB + 0.75 I will be offering them 30% max. More than that it is not worth my while
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Interesting to see if you change your offer after you "figure out how much you should offer".

I don't believe that they are accepting any offers at all. If they are, you would need to be offering around 90%.

Brendan
 
cremeegg said:
Hi TRS30

I have just seen this thread for the first time. I am in a similar position.

In all the research I have done the one clear piece of information I have gained is that they want you to make them an offer.

e.g. I will pay you €30k in full and final settlement of my outstanding mortgage of €100k

they will then accept or reject your offer.

I intend to make them such an offer as soon as I can figure out how much I should offer. With a 25 year IO at ECB + 0.75 I will be offering them 30% max. More than that it is not worth my while

This thread is also around the same issue http://www.askaboutmoney.com/showthread.php?t=183252
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Hi Cremeegg

How have you been talking to, BOS directly or Certus? Are you talking to them directly or through a third party?

Be very interest to hear how you get on.
 
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