Historic Interest Rate

Carb

I was wondering is there anyway of looking up the interest rates on offer over 12 months ago, specifically Bank of Ireland.

Basically, when I applied for a mortgage in February 05, BOI had a tracker rate available for loans over 200k, that was a fair bit lower than their variable rate. This was the option I was going to go with, but the bank manager suggested the one year discounted fixed rate which was the same. I came round to the idea, thinking that it would give me the option of availing of a better product in 12 months if it was available. (I also said this to the bank manager, and thier reply was "exactly".)

Now the time has come to choose a rate, and all I'm been offered is the variable rate, or a tracker rate at ECB +1.25%, (plus other fixed rate options) which is bascially the same. The only other tracker rates available are for loans >250K, and these are for new business only. I know for definite that there was a good rate available last year for loans >200k, as I only wanted about 190k, but decided on 200k to avail of this rate. There's probably nothing I can do now, but I'd love to have a printout or something to accompany the letter I'm going to send them, explaining why I'll be switching lenders as soon as I'm in a position to do so.

Or do I even have a reason to be pissed off.

Sponge Bob

twas circa 3.6% standard variable and that was about 1.6% over base then

the good rate would have been about 1.1% over base on a variable tracker, you can simply ring them and threaten to leave (for NIB who will pay you to leave) and they will ring back within 24 hours with an offer of about 1.0% to 1.1% over base and you then sign a form and thats that.

1.25% over base is ****e so you do have a reason to be pissed off , hassle them.

Carb

Sponge Bob wrote:

twas circa 3.6% standard variable and that was about 1.6% over base then

the good rate would have been about 1.1% over base on a variable tracker, you can simply ring them and threaten to leave (for NIB who will pay you to leave) and they will ring back within 24 hours with an offer of about 1.0% to 1.1% over base and you then sign a form and thats that.

1.25% over base is ****e so you do have a reason to be pissed off , hassle them.

Now that you mention it, 3.1 sounds familiar. I'll try hassling, but my experience with BOI then was that they couldn't care where I went. Myself and my wife were earning roughly 55/60k and by BOI's criteria we could borrow 240k. So you can imagine my surprise when we walked in looking for 200k, with our own site worth 100k, and they turned around and said no. We practically had to beg. We really should have went elsewhere, as that was only the start of our problems with them. Hindsight is a wonderful thing.

Now, unfortunately, only one of us working and we have a newborn son, so we are stuck with BOI for a couple of years until my earnings go up. I'll try calling their bluff though.

Sponge Bob

NIB await if required.

lomb

boi are ultraconservative. after all they date from something like 1793. u dont last that long if u are lending recklessly. they are very much the bank with the greatest reputation, and classiest set up. i think 1.25 above base is very reasonable in any case. in and around 4% is par for the course.