mortgage drawdown cashback question

euromerp

Hello -

I've just gone sale agreed on a property. We should be closing in early December. I am obviously hoping to take advantage of the 2% cash back offer. How soon after closing does the mortgage draw down happen? 

This is all very new to me and I'm not clear how it all works, but I know that the cash back offer ends on December 31, 2019 so I want to make sure the draw down happens in time for me to avail of that offer. 

Thank you!

best,
Shannon

Bank of Ireland: Kathryne

Hi Shannon,

Thanks very much for getting in touch with us here on Boards.ie.

We would like to wish you the very best of luck in your soon-to-be new home.

The draw-down on a mortgage application is processed on a case by case basis so there isn't one specific timeframe we can offer. Our mortgage managers are available on 1890812350 and they can look into your own application and give you a better view of when you can draw down your mortgage and avail of the cash-back offer.

Many thanks,
Kat

rdlp715

Hi Kathryn

I am in a similar situation. We have been Sale Agreed since July and it looks like it'll go down to the wire with regards closing before 31st of December. Can you confirm if the offer will be extended - or confirm when people will be notified whether or not it will be extended?

We are relying on the cashback and if it wont be extended that may jeapordize our purchase. If the offer is not extended and we aren't closed by Dec 31st, we will be going with another bank. We will probably need to act on/prepare that backup plan in the coming weeks..

Purely conjecture here, but given that BOI is still advertising the offer with only slightly more than 2 months/9 weeks left in the year, one would get the impression that there will be enough time for any new customers signing up today to avail. A significant minority, if not majority of house sales take more than 8 or 9 weeks..

Thanks
John

Bank of Ireland: Kathryne

Hi John,

Thanks for reaching out to us today, we hope you're keeping well.

The mortgage cash back offer is available to mortgage customers who drawn down their mortgage between September 2016 and December 31st. I'm afraid we don't have any news on this offer at the moment but as soon as we have updates on our products it will be available on our website and customers will be notified.

Many thanks,
Kat

DublinCJM

Just saw that offer was extended till June next year

Bank of Ireland: Jennifer

DublinCJM wrote: »

Just saw that offer was extended till June next year

Hi DublinCJM,

Thanks for coming back to us here.

Yes that is correct. The cash back offer with a Mortgage has now been extended until the 30 June 2020.

For more information on this please see here.

We hope this helps and please feel free to get back in touch with us if we can help with anything else.

Thanks Jen

euromerp

great news!