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Bank of Scotland Ireland Mortgage problems

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  • 15-06-2014 10:57pm
    #1
    lynchiered
    Registered Users Posts: 102 ✭✭


    Hi need a little help or idvice,

    We currently have a mortgage with Bank of Scotland Ireland who no longer operate in Ireland.

    It is a tracker mortgage think its about 30 years, about 140000 left on it never missed a payment and is in negative equity.

    We recently contacted them regarding moving house with our current mortgage and the answer we got was.

    " If you want to move house you will have to sell your house pay us back all our money and find a new lender because we don't do new business in Ireland"

    I feel im been given a bad deal here as we have committed to BOSI and honored our repayments but as life goes i understand and can take it on the chin.

    My question is can i switch my mortgage to a Irish bank and then move? or can anybody suggest other options as we are in a great bit of bother to move.


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    #2
    Trish56
    Registered Users Posts: 1,256 ✭✭✭Trish56


    As the bank stated they no longer operate in Ireland so you cannot get a new mortgage from them. How much negative equity are you in? Can you do a deal with them? You need to provide more information such as what is the current value of the house . If you are in negative equity you cannot switch your mortgage unless you have a lump sum to pay off.
    lynchiered wrote: »
    Hi need a little help or idvice,

    We currently have a mortgage with Bank of Scotland Ireland who no longer operate in Ireland.

    It is a tracker mortgage think its about 30 years, about 140000 left on it never missed a payment and is in negative equity.

    We recently contacted them regarding moving house with our current mortgage and the answer we got was.

    " If you want to move house you will have to sell your house pay us back all our money and find a new lender because we don't do new business in Ireland"

    I feel im been given a bad deal here as we have committed to BOSI and honored our repayments but as life goes i understand and can take it on the chin.

    My question is can i switch my mortgage to a Irish bank and then move? or can anybody suggest other options as we are in a great bit of bother to move.


  • Options
    #3
    lynchiered
    Registered Users Posts: 102 ✭✭lynchiered


    Trish56 wrote: »
    As the bank stated they no longer operate in Ireland so you cannot get a new mortgage from them. How much negative equity are you in? Can you do a deal with them? You need to provide more information such as what is the current value of the house . If you are in negative equity you cannot switch your mortgage unless you have a lump sum to pay off.

    Hi Trish,

    Our house is worth about 70,000 Euro at this moment, and there is 150,000 Left on the Mortgage


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