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Banks willing to remove 25% of your mortgage if you give up tracker

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    #32
    Kaner2004
    Closed Accounts Posts: 143 ✭✭Kaner2004


    NIMAN wrote: »
    AIB?

    Did she approach their headquarters or just her local branch?

    Was her mortgage being paid ok with no arrears? (don't have to answer this one).

    Mortgage was being paid normally. Shes not in an financial trouble at all. Far from it actually.

    She got her husband to work out all the costings for her and for the bank, showing what the bank would gain or lose depending on their decision.
    Asked to see the branch manager about a mortgage and told them she only wanted to talk to the manager. Eventually the manager met her and she showed him the figures and struck a deal with him. It took about 2 months for him to come back with the go-ahead.

    My friend asked my sis what she did, so his story is the same.


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    #33
    Lantus
    Registered Users Posts: 3,027 ✭✭✭Lantus


    periods of recession are typically followed by inflation.

    The only stick the economy has to beat inflation with is interest rates to stabilise markets and currency values.

    Over the next 20+ years will inflation go up?

    Over the next 20+ years will interest rates go up?

    Banks are offering this deal not because they feel like their customers need a hand/money off their mortgages or because the love us dearly (delete as appropriate.)

    They are doing it because a group of hard nosed accountants has worked out that on average they can screw customers much harder and much longer for the next 20+years if they take a little offer like this now.

    variable rates puts all the control back at the domestic bank level where they can ignore the ECB and any government or regulator and concentrate on squeezing the customer until either they make huge gains from interest payments or get the actual asset in exchange for the imaginary money they offered in the first place.

    DONT DO IT!!!


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    #34
    Jaysoose
    Closed Accounts Posts: 3,212 ✭✭✭Jaysoose


    Zamboni wrote: »
    It is a fantastic idea.
    I think everybody that can should take the offer especially from any of the banks in state ownership.

    In the interest of the Irish tax payer

    I wish people would stop spouting this bullcrap.


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    #35
    ntlbell
    Registered Users Posts: 16,288 ✭✭✭✭ntlbell


    Kaner2004 wrote: »
    If you are on variable they cant stop you overpaying whatever you want, whenever you want.

    if you show me t&c's that state with _this_ specific deal. Untill then I would be very doubtful


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    #36
    Kaner2004
    Closed Accounts Posts: 143 ✭✭Kaner2004


    ntlbell wrote: »
    if you show me t&c's that state with _this_ specific deal. Untill then I would be very doubtful

    Well go and make a deal with your bank then. Then you can see whatever you agree with them to put in the contract.

    There are two sides to a negotiation. You dont agree to it if you dont like their terms. Get them to change them to what you will agree to.
    If its not a winning situation for you then negotiate until it is a win/win.

    The bank wants rid of anything that costs them. That includes your tracker mortgage. Whether it be the entire mortgage, a significant portion of the mortgage or just the interest rate - they want it gone. Thats the win for them. Once the decision maker realizes you know this is in the banks interest as well as yours, you have the upper hand. Now you just have to make sure their win, also works out as a win for you.


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