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2% mortgage cashback - expiry?

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  • 09-11-2015 10:08am
    #1
    markeymark
    Registered Users Posts: 88 ✭✭


    Hi,

    I had a query about the 2% mortgage cashback offer and the drawdown limit of 31st December. If I was to go sale agreed on a property this year but the mortgage wasn't drawn down until January, is it likely that I would still be entitled to the offer? BOI is still advertising the offer, but it seems unlikely that the sales process could be completed before 31st December even if I went sale agreed tomorrow! I guess what I'm asking in other words is: will the offer be extended?

    Thx,
    Mark


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    #2
    Bank of Ireland: Janet
    Closed Accounts Posts: 314 ✭✭Bank of Ireland: Janet


    markeymark wrote: »
    Hi,

    I had a query about the 2% mortgage cashback offer and the drawdown limit of 31st December. If I was to go sale agreed on a property this year but the mortgage wasn't drawn down until January, is it likely that I would still be entitled to the offer? BOI is still advertising the offer, but it seems unlikely that the sales process could be completed before 31st December even if I went sale agreed tomorrow! I guess what I'm asking in other words is: will the offer be extended?

    Thx,
    Mark
    Hi markeymark,

    Thanks for your post.

    At the moment we haven’t been advised of there being an extension to the offer, so the cashback offer is only applicable to customers who drawdown before the 31st December 2015.

    Thanks


    Janette


  • Options
    #3
    gl0Rob
    Registered Users Posts: 105 ✭✭gl0Rob


    How is drawdown defined? The house I'm purchasing won't be ready until the second week of January. Could the amount be drawn down by the solicitor before the deadline with the house purchase not occurring till the second week of January?


  • Options
    #4
    Bank of Ireland: Sarah
    Closed Accounts Posts: 1,640 ✭✭✭Bank of Ireland: Sarah


    gl0Rob wrote: »
    How is drawdown defined? The house I'm purchasing won't be ready until the second week of January. Could the amount be drawn down by the solicitor before the deadline with the house purchase not occurring till the second week of January?
    Hi gl0rob, 

    We're just looking into this for you and will let you know when we have clarification. 

    Thanks,
    Sarah


  • Options
    #5
    Bank of Ireland: Sarah
    Closed Accounts Posts: 1,640 ✭✭✭Bank of Ireland: Sarah


    gl0Rob wrote: »
    How is drawdown defined? The house I'm purchasing won't be ready until the second week of January. Could the amount be drawn down by the solicitor before the deadline with the house purchase not occurring till the second week of January?
    Hi gl0Rob, 

    Thanks for your post. 

    Mortgage Drawdown occurs when the loan funds are paid over to your solicitor to complete the property purchase. You should discuss with your solicitor what date he or she will request this to happen. Please be aware that mortgage interest will begin to accrue from the date the funds are drawn down. 

    I hope this helps.

    Thanks,
    Sarah


  • Options
    #6
    Bank of Ireland: Evie
    Closed Accounts Posts: 455 ✭✭Bank of Ireland: Evie


    markeymark wrote: »
    Hi,

    I had a query about the 2% mortgage cashback offer and the drawdown limit of 31st December. If I was to go sale agreed on a property this year but the mortgage wasn't drawn down until January, is it likely that I would still be entitled to the offer? BOI is still advertising the offer, but it seems unlikely that the sales process could be completed before 31st December even if I went sale agreed tomorrow! I guess what I'm asking in other words is: will the offer be extended?

    Thx,
    Mark
    Hi Markeymark, 

    I just wanted to give you an update on the 2% cashback offer, we are delighted to announce that this has now been extended until 31st March. If you would like to discuss this further we would be happy to arrange a callback for you. Please PM your Name, Contact Number and the first line of your address. You can also read more about this offer here

    Thanks,

    Evie 


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