difficulties with BOI and stocking loan

duffysfarm

Anyone else having difficutlies with deailing with BOI on stocking loans this year? have applied and paid back no problems in the last 2 years and i have applied on 4/2/2017 and have not heard back yet! rang twice and person deailing with it was too busy and would call back..... got onto local branch and he said he "emailed them" which isnt much help. i woudl be dissapointed at this stage if i missed out on the SCBI scheme. I think its time to get my affairs in order and look elsewhere but i dont think the banks make it easy!

larrymiller

duffysfarm wrote: »

Anyone else having difficutlies with deailing with BOI on stocking loans this year? have applied and paid back no problems in the last 2 years and i have applied on 4/2/2017 and have not heard back yet! rang twice and person deailing with it was too busy and would call back..... got onto local branch and he said he "emailed them" which isnt much help. i woudl be dissapointed at this stage if i missed out on the SCBI scheme. I think its time to get my affairs in order and look elsewhere but i dont think the banks make it easy!

Are you applying for stock loan or scbi?

Either way boi loans people are flooded with work getting through the scbi applications and these are taking priority over other type loans. That's what's causing the delays.1

duffysfarm

Scbi. Will call on Monday and will "wait" until the person dealing with it is free to talk.

larrymiller wrote: »

Are you applying for stock loan or scbi?

Either way boi loans people are flooded with work getting through the scbi applications and these are taking priority over other type loans. That's what's causing the delays.1

Doctor Shivering

Jaysis
Cut them some slack
They are over run
Depending on the amount,it may be in one of 2 piles,the lending team who prepare it and submit it on the system
If the system doesn't auto approve it,it goes to a 2nd stage for the credit people to look at it
You'll get a text actually when it's approved

massey265

Regarding a stocking loan, often thought off looking into one for when I buy in weanlings, what are the ins and out off them,what is the interest rate, do you make monthly repayments or do you pay off in one lump sum when you sell?

Robson99

massey265 wrote: »

Regarding a stocking loan, often thought off looking into one for when I buy in weanlings, what are the ins and out off them,what is the interest rate, do you make monthly repayments or do you pay off in one lump sum when you sell?

Would a term Ioan overy 5 years be a better option?

larrymiller

massey265 wrote: »

Regarding a stocking loan, often thought off looking into one for when I buy in weanlings, what are the ins and out off them,what is the interest rate, do you make monthly repayments or do you pay off in one lump sum when you sell?

Afaik one lump some 12 months later. That's what I done before but can't remember internest

Buford T. Justice XIX

larrymiller wrote: »

Afaik one lump some 12 months later. That's what I done before but can't remember internest

The interest rate would vary. If you have a good rating it would be at the lower range of what they charge, if it's your first time or you wouldn't have a good cash flow, it would be in the higher range.

locky76

massey265 wrote: »

Regarding a stocking loan, often thought off looking into one for when I buy in weanlings, what are the ins and out off them,what is the interest rate, do you make monthly repayments or do you pay off in one lump sum when you sell?

Unsecured stocking loan can have a term of 12 or 18 months and can be paid off earlier with no penalties. It is at 6.745%, this is non negotiable.

duffysfarm

locky76 wrote: »

Unsecured stocking loan can have a term of 12 or 18 months and can be paid off earlier with no penalties. It is at 6.745%, this is non negotiable.

would it not qualify for the new SCBI loan? i was told it would by boi. on the amount that i was looking to borrow that would be €1,000 of a difference on the rates, nit an insignifcant amount

duffysfarm

stocking loan under scbi. i was told by boi that stocking loan will qualiy for scbi. when i applied i was told that there was a 48 hour turn around on the application. i appreciate that they may have a lot of applications but ignoring phone calls is not helping. if they had the manners to say it will take a week/ 2 weeks that would be something but ignoring people doesnt really work for me, i dont know about you.

larrymiller wrote: »

Are you applying for stock loan or scbi?

Either way boi loans people are flooded with work getting through the scbi applications and these are taking priority over other type loans. That's what's causing the delays.1

larrymiller

duffysfarm wrote: »

stocking loan under scbi. i was told by boi that stocking loan will qualiy for scbi. when i applied i was told that there was a 48 hour turn around on the application. i appreciate that they may have a lot of applications but ignoring phone calls is not helping. if they had the manners to say it will take a week/ 2 weeks that would be something but ignoring people doesnt really work for me, i dont know about you.

I was told 10 days so take it as 2 weeks. Not ideal but what can you do