Options when approaching bank.

D

Dman35

Registered User
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54
Hi Folks,

Just looking to get some advise as I've seen a number of threads similar to the following but none that I could find directly related to it.

Really just looking for advice from anyone who may have already dealt with Bank of Scotland on getting their mortgage rescheduled.

My wife recently lost her job and we have a young family so really need a bit of breathing space on mortgage repayments.

We haven't missed any payments to date but getting v tight and have actually brought in a 35 yrs mortgage to 15 yrs over the course of the last 8 yrs.

What are our options - Interest only? Extending the mortgage back out to 25 yrs or so? Any other ones I'm not aware of?

Any advice much appreciated.
 
Bank of Scotland wants out of the Irish market and are not enthusiastic about doing deals.

I am not even sure if they are still covered by the Mortgage Arrears Code.

I think you should start by asking for the term to be extended, but they are likely to refuse.

Brendan
 
Hi

We are currently with BOS and have re-scheduled as we are down to one income. Ring Certus who handle their admin here in Ireland but do not make the decisions as all paperwork has to go to the UK for approval. Certus are very good to deal with but BOS do not seem to realise how bad things are here and sometimes come back with stupid figures. Stick to your guns if you are making a fair proposal and it may be worth turning off your D/D if things are dragging on as it can take 6 weeks for a decision. If you turn off your D/D tell Certus and pay what you can by chq or over the phone by Visa Debit.
 
Thanks for the replies folks..

Yeah going to contact them as at the end of the day I'm not looking for much at all i.e just switching to interest only for a 1yr or so..
 
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