Mortgages |
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Baldrick
Robbie Keane Peyton-tly Pedantic Joined: 18 Sep 2008 Location: Ireland Status: Offline Points: 32826 |
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AKA pedantic kunt
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notpropaganda73
Liam Brady Joined: 17 Feb 2016 Location: Donegal Status: Offline Points: 1067 |
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Would anyone have any experience in buying cross border? Living in Belfast but I've part-inherited my grannys place up in Donegal and looking at mortgage options for buying out the other parties. Have looked up a few things and have a couple appointments with mortgage advisers but just wondering if anyone had first hand experience, always good to hear from the horses mouth
Edited by notpropaganda73 - 03 Mar 2022 at 10:17am |
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sausy
Jack Charlton MAYO FOR SAM Joined: 13 Jan 2009 Location: The local Status: Offline Points: 6992 |
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I'd get a recommendation of a broker around the boarder counties as they should have plenty of experience and save you the hassle of each Banks policy on non residents taking out mortgages.
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Bimbos Burgers - "Official Sponsor of the Irish Squad"
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MayoMark
Moderator Group The NEW angrier Freewheeler Joined: 27 Jan 2009 Location: Castlebar Status: Offline Points: 26343 |
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AIB broke my fixed term and let us switch to 5-year fixed green at 2.1% Upped the payments slightly and it took 18 months off the term. Very happy with that
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They finally did it man... They killed my f**kin' car...
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McG
Moderator Group SISAO? What the hell is SISAO? Joined: 27 Jan 2008 Location: Christmas Island Status: Offline Points: 27018 |
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Ended up breaking my current 1 year fixed term at 2.9% with EBS and locked in for free for 5 years at 2.75%.
The cost of the switch (at this very point in life) was just too much right now with other life expenses. Happy to be locked in for the 5 years at a reduction when there's all sorts of central bank interest rate scares being talked about.
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YBIG Table Quiz winner 2016 & 2017
AS YOU WERE McGx |
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MayoMark
Moderator Group The NEW angrier Freewheeler Joined: 27 Jan 2009 Location: Castlebar Status: Offline Points: 26343 |
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ICS putting their fixed rates up. Sign of things to come I think. Happy to be locked in for 5 years as well
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They finally did it man... They killed my f**kin' car...
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McG
Moderator Group SISAO? What the hell is SISAO? Joined: 27 Jan 2008 Location: Christmas Island Status: Offline Points: 27018 |
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Mad thing about mortgage rates is that there are a proportion of people out there paying way over the odds. Pal of mine paying variable rate of 3.75% currently when he could have a 2% green mortgage in his A rated gaff.
Mad stuff. Naturally, he is on the blower to them first thing today.
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YBIG Table Quiz winner 2016 & 2017
AS YOU WERE McGx |
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MC Hammered
Jack Charlton Joined: 05 Oct 2011 Status: Offline Points: 6878 |
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I think percentages confuse some people. I’ve had to explain the difference in real terms of lowering your mortgage rate to a few friends. It’s an old trick in negotiation training where you ask someone the following: If you usually charge a client a rate of 20% and they are asking to pay 15% instead, how much % discount are they seeking? You’d be surprised how many people say 5%.
Edited by MC Hammered - 16 Mar 2022 at 10:04am |
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El Puto Amo
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MayoMark
Moderator Group The NEW angrier Freewheeler Joined: 27 Jan 2009 Location: Castlebar Status: Offline Points: 26343 |
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We've gone from 2.45% to 2.1%. It's small in terms of monthly payments but if you retain or slightly increase payments, it's a nice bit from the mortgage term
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They finally did it man... They killed my f**kin' car...
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Shedite
Jack Charlton Joined: 09 Dec 2011 Status: Online Points: 9829 |
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Chopping it off the term of the mortgage is the best way to do it, it's an odd way to think about it, but you've basically given yourself a big pay rise for a year or so when you're in your 50's/60's
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Lenny82
Liam Brady Joined: 20 Aug 2010 Location: Ireland Status: Offline Points: 2914 |
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Anybody switch mortgages recently? How long did it take? Coming towards the end of fixed rate term in June and want to jump, but fear I might be cutting it fine.
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McG
Moderator Group SISAO? What the hell is SISAO? Joined: 27 Jan 2008 Location: Christmas Island Status: Offline Points: 27018 |
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Do providers have to accept overpayments? How do you sort it? For example, can i email and say, thanks for the percentage cut but can i retain the repayments as they were before? Or could i hypothetically email and ask to pay 100 extra a month say?
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YBIG Table Quiz winner 2016 & 2017
AS YOU WERE McGx |
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MayoMark
Moderator Group The NEW angrier Freewheeler Joined: 27 Jan 2009 Location: Castlebar Status: Offline Points: 26343 |
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When I changed % I wrote to them and said I want to increase my payments to €x.
Was no problem with aib anyway
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They finally did it man... They killed my f**kin' car...
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Sham157
Moderator Group Joined: 17 Jul 2009 Location: Monaghan/Dublin Status: Offline Points: 33235 |
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Edited by Sham157 - 11 Apr 2022 at 10:44pm |
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BrenC
Davey Langan Joined: 21 Oct 2010 Status: Offline Points: 856 |
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Ye if it’s not a fixed term they have to let you pay off early or increase your monthly payment. If it’s fixed term they still have to let you but likely have penalty clauses in the contract so big it’s not worth it. |
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Team Emmet
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BrenC
Davey Langan Joined: 21 Oct 2010 Status: Offline Points: 856 |
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anyone with a KBC mortgage heard anything about what happens when they transfer to BOI?
We got our rate lowered by .25% by virtue of having a KBC current account. That account can’t exist when they feck off but can’t figure out if BOi have to honour that reduction
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Team Emmet
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Shedite
Jack Charlton Joined: 09 Dec 2011 Status: Online Points: 9829 |
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whitesideOnside
Liam Brady Joined: 24 Mar 2009 Location: Ireland Status: Offline Points: 1202 |
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I ended up doing this too. Switching is complicated for me as Fingal CC have a small charge on my apartment. It only kicks in at an amount way above my mortgage now, but the Broker told me Avant probably wouldn't accept me for a switch and it would be very complicated with other lenders. So I've just stayed with EBS, and fixed for 5 years at 2.75%. I was going to pay a lump sum off from some savings, but then I thought I may get a notion to travel, or whatever, the next few years, so best to have money available now, particularly with inflation beginning to impact. The interest paid over 35 years is colossal, but on the other hand, once it goes into the mortgage, that's it, you can never retrieve it. I can cope with the payments now and live okay. I would be in a much tighter situation if rates jumped say +2% quickly in the next year. With inflation, salaries will probably jump a bit over the next couple of years and so reduce my percentage outgoing on the mortgage. I'm happy to be locked in at this rate now too. The 2.1% green rate would be fantastic, but I'm about C2 BER and it wasn't simple to get to a B3 BER. Your post settled my mind a bit as I was thinking everyone is switching. Thanks!
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