Brendan Burgess
Founder
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I did a terrible job editing this interesting post. But you will get the general drift. Brendan
A:
Have you considered a secured loan if you already already own a property? I've just got a car loan for 3.75% from EBS - variable rate so no penalty if I pay back early though obviously the rate could go up - but that's much better than the credit union can offer me.
D: is it seperate to the mortgage or a restructure of the mortgage that you have taken from EBS. Is the existing loan with EBS?
A:
Existing 30 year mortgage already with EBS. But new car loan has separate terms - agreement is over 7 years though I can pay it back earlier and I certainly hope to do so as even 7 years is too long to pay back a car loan.
E:
I am doing the same at the moment.
How did you work out in relation to the Mortgage Protection Policy?
I have been told two different things:
1. Broker told me to cancel the existing MPP and take out a new one for the outstanding mortgage amount + released equity (for car loan) for a term for the remaining years left on the mortgage.
2. Bank told me to take out a new and separate MPP for 10 years (don't think you can have an MPP for less 10 years?) for the amount of the car loan.
What did you do?
What did your bank charge in legal fees?
F:
I just spoke to my bank re loan for car. Tehy are willing to give 25k without reviewing your income situation. THe loan can be paid over the 30 years at the low mortgage interest rate - or repaid whenever. The cost will be €75 to the banks lawyers to arrange the finance.
Bloody lot cheaper than going for a personal loan. Wish I had known about it earlier.
G:
€75 - what bank are you with?
BOI are looking for €200!
A:
Have you considered a secured loan if you already already own a property? I've just got a car loan for 3.75% from EBS - variable rate so no penalty if I pay back early though obviously the rate could go up - but that's much better than the credit union can offer me.
B
Havent got property yet, im looking at that this year.
C:
I'd rather get a finance loan of some sort for the car than do what other people seem happy to do and extend the motgage to buy a car. surely this is bad common sense as you end up paynig back for a car for 30 years even though youll probably change it 10 times before youve paid it off???
Havent got property yet, im looking at that this year.
C:
I'd rather get a finance loan of some sort for the car than do what other people seem happy to do and extend the motgage to buy a car. surely this is bad common sense as you end up paynig back for a car for 30 years even though youll probably change it 10 times before youve paid it off???
D: is it seperate to the mortgage or a restructure of the mortgage that you have taken from EBS. Is the existing loan with EBS?
A:
Existing 30 year mortgage already with EBS. But new car loan has separate terms - agreement is over 7 years though I can pay it back earlier and I certainly hope to do so as even 7 years is too long to pay back a car loan.
E:
I am doing the same at the moment.
How did you work out in relation to the Mortgage Protection Policy?
I have been told two different things:
1. Broker told me to cancel the existing MPP and take out a new one for the outstanding mortgage amount + released equity (for car loan) for a term for the remaining years left on the mortgage.
2. Bank told me to take out a new and separate MPP for 10 years (don't think you can have an MPP for less 10 years?) for the amount of the car loan.
What did you do?
What did your bank charge in legal fees?
F:
I just spoke to my bank re loan for car. Tehy are willing to give 25k without reviewing your income situation. THe loan can be paid over the 30 years at the low mortgage interest rate - or repaid whenever. The cost will be €75 to the banks lawyers to arrange the finance.
Bloody lot cheaper than going for a personal loan. Wish I had known about it earlier.
G:
€75 - what bank are you with?
BOI are looking for €200!
F:
With IIB - who are also the cheapest on mortgage rates (I think) - am paying 3.1% interest with them at present.
Other banks (won't name names like NIB, AIB and BOI) want to do an income check on a top up of over €10,000.
€75 I think is very cheap considering the saving!
With IIB - who are also the cheapest on mortgage rates (I think) - am paying 3.1% interest with them at present.
Other banks (won't name names like NIB, AIB and BOI) want to do an income check on a top up of over €10,000.
€75 I think is very cheap considering the saving!
H:
No legal fee charges at EBS - myself and hubby just had to go in and sign a deeds amendment document together in the local branch. Also no additional life insurance required as my new loan is less than 30K.
If the existing loan plus new loan was greater than 75% of current property value (according to their index linked valuation) then would have to charge me 127 euros to have their surveyor value the property.
No legal fee charges at EBS - myself and hubby just had to go in and sign a deeds amendment document together in the local branch. Also no additional life insurance required as my new loan is less than 30K.
If the existing loan plus new loan was greater than 75% of current property value (according to their index linked valuation) then would have to charge me 127 euros to have their surveyor value the property.