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Bank of Scotland Mortgage

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  • 05-02-2015 10:06pm
    #1
    mobyduck
    Registered Users Posts: 91 ✭✭


    Hi,

    I took out an interest only tracker mortgage in 2007 with Bank Of Scotland (Ireland). As my LTV was < 50%, I got a interest rate of ECB+0.55% so right now only paying interest rate of 0.60% (!). I'm currently paying only a few hundred a month to meet the payment on the mortgage (of > 300K).

    Needless to say, this is a very favorable arrangement for me and have been able to put some money away towards the lump sum in the mean time.

    Several people have independently suggested that whoever is currently servicing the BOSI loan book may look to cut a deal on the overall mortgage to stop leaking money every month over next 2 decades.

    I know Certus were servicing the BOSI loan book but not sure if they still are. Media reports late last year mentioned Lone Star as having bought the loan book at a significant discount.

    Am I naive to hope of an offer of a discount on mortgage sum if we can clear it? It would be worthwhile for me to take out a smaller variable/fixed mortgage with another provider to take advantage of this.

    cheers,
    Moby
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