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Bank of Ireland mortgage - €250 back on legal fees

  • 17-06-2010 5:25pm
    #1
    furry
    Registered Users, Registered Users 2 Posts: 111 ✭✭


    We've just got our mortgage pack out. There's a special condition that if we drawdown the money by June 30th we'll get €250 back on our legal fees. This isn't going to be possible, it was only sale agreed last week and contracts haven't been issued.

    Anyone know is this a long running condition with BOI - I'm going in tomorrow and I'm wondering can we push the date out to end of July...or is one supposed to be grateful for a mortgage and shut up?

    Thank you.


Comments

  • #2
    irishguy
    Registered Users, Registered Users 2 Posts: 3,305 ✭✭✭irishguy


    furry wrote: »
    We've just got our mortgage pack out. There's a special condition that if we drawdown the money by June 30th we'll get €250 back on our legal fees. This isn't going to be possible, it was only sale agreed last week and contracts haven't been issued.

    Anyone know is this a long running condition with BOI - I'm going in tomorrow and I'm wondering can we push the date out to end of July...or is one supposed to be grateful for a mortgage and shut up?

    Thank you.


    There is no harm in asking anyway. They might be extending the offer too you never know


  • #3
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    furry wrote: »
    We've just got our mortgage pack out. There's a special condition that if we drawdown the money by June 30th we'll get €250 back on our legal fees. This isn't going to be possible, it was only sale agreed last week and contracts haven't been issued.

    Anyone know is this a long running condition with BOI - I'm going in tomorrow and I'm wondering can we push the date out to end of July...or is one supposed to be grateful for a mortgage and shut up?

    Thank you.

    Its a special offer to try to bloat their 2nd quarter lending figures. They gave an undertaking to lend X amount to the Department of Finance- and are currently short by Y amount. If someone is in the process of completing, the extra financial incentive might give them an imperative to move their draw down dates.

    In general- institutions will give you a small financial incentive to use their inhouse legal team- however, this is not always advisable.

    In the scale of things- EUR250 is not going to be the sort of incentive that should pressurise you one way or the other?

    No harm in asking- but do keep in mind that the current offer coincides with their Q2 results......


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