Has anyone exited a split mortgage?

[Brendan Burgess]

A few KBC customers are reporting their difficulty in getting out of a split mortgage in this thread:

Why Would KBC want to keep me on a split mortgage

That's brilliant thank you.

www.askaboutmoney.com

I am wondering if it's specific to these individuals and other KBC customers are being "allowed out"?

What has been the experience of customers of banks other than KBC when you tried to exit a split?

Brendan

 

[Introuble83]

I exited an aib split mortgage last year . I paid a portion off the split balance then requested to move the remaining balance back the active mortgage account. It was a straightforward process . Zero negotiation on split portion settlement though which was fair enough in my opinion.

 

[Brendan Burgess]

Hi Introuble

Thanks for that.

I thought that the AIB split mortgage included a clause that if you paid it off early, they would give you a discount?

I see from this thread, that you may have already availed of it.

AIB - If you have a split mortgage and you are in the AIB Prevailing Rate cohort...

You should give serious consideration to paying the interest refund against the warehouse. AIB is setting part of the write down against the warehouse - e.g. €10,000 If the split mortgage is less than 5 years old, AIB pays a 42% bonus on any money paid off the warehouse. So they are then...

www.askaboutmoney.com

Brendan

 

[Introuble83]

Apologies you are correct . I can’t remember the exact figures but I lodged approx 16k and 4k additional was taken off . The remaining was moved back to the active .