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Do any members have mortgages with Bank of Ireland?
A friend has just phoned me to say that she has received a letter from her lender (B o I) informing her that the interest rate applied to her mortgage is increasing from 2.99% to 4.49%.
As far as I know Ireland's base rate is .05%, and this would suggest that her contractual interest rate is for 2.49% over base.
She is in receipt of SMI from DWP, but when DWP decreased the % from 6.8%she ended up with a shortfall every month that she has to make up from her means tested benefits. The 1.5% increase will mean that she has to find in the region of another £200 per month
She is frantically looking for her original mortgage documents and will SAR her lender if she cant find them.
Any advice please
A friend has just phoned me to say that she has received a letter from her lender (B o I) informing her that the interest rate applied to her mortgage is increasing from 2.99% to 4.49%.
As far as I know Ireland's base rate is .05%, and this would suggest that her contractual interest rate is for 2.49% over base.
She is in receipt of SMI from DWP, but when DWP decreased the % from 6.8%she ended up with a shortfall every month that she has to make up from her means tested benefits. The 1.5% increase will mean that she has to find in the region of another £200 per month
She is frantically looking for her original mortgage documents and will SAR her lender if she cant find them.
Any advice please
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