Affordable Housing Mortgage

S

spillac

Registered User
Messages
32
Hi,

has anyone a mortgage with IIB or EBS for an affordable home - any advice on either bank.
 
IIB would only offer me 95%, whereas EBS offered me the full allowable 97%. Bank of Ireland should be an option also, though I'm going with EBS.
 
IIB will give 97%, I organised about 10 affordable housing mortgages through them last year and they gave the full 97% on each of them. They will allow you to borrow more if you agree to take a 3 year fixed rate.

I have also dealt with EBS and Bank of Ireland, personally found it easier to get clients approved with either IIB or Bank of Ireland, plus there was better choice of rates and better service with those banks at the time.
 
IIB would only give me 97% of 230,000 and i needed 97% of 250,00 which i got from EBS so i went with them
 
I was on to the mortgage advisor today with EBS - they are now offering 100% loans for affordable housing - i was offered 225K
 
Traceybere said:
I was on to the mortgage advisor today with EBS - they are now offering 100% loans for affordable housing - i was offered 225K
Click to expand...
Really?

I wonder if it's possible to re-negotiate, after having a 97% loan agreed. I'm still awaiting house contract to be signed, so no money has changed hands yet.

Or maybe I'd be better sticking with a 97% loan...
 
bytelive said:
Really?

I wonder if it's possible to re-negotiate, after having a 97% loan agreed. I'm still awaiting house contract to be signed, so no money has changed hands yet.

Or maybe I'd be better sticking with a 97% loan...
Click to expand...

have a look on this page - its really helpful

[broken link removed]

You can also order a Free DVD from EBS about AH
 
Could anyone tell me whats the norm monthly repayments to be apying for an AH mortgage?
Im getting 97% mortgage of 197000 so its approx 188000 ill be getting from EBS and my monthly repayments are aprox 900/month.
Im buying it on my own.
That includes tax relief, but is there anything else id be entitled to like mortgage subsidy?

Also, the market price on the letter from the coucil is way over the actual selling price.
I rang the auctioneers to find out the selling price of the property and they said 285k and on the letter from council it said the market price was 315k!?
I don not want to be paying a higher % clawback than i should be paying because this is obviously wrong!
any advise please
 
If you are going with EBS you can avail of the easy step option and pay 85% of the capital for the first year. It should lower your repayments be approx €100 a month.
 
Bear in mind that such partial repayment breaks will result in higher long term mortgage costs in case that's a concern.
 
thanks bobbyg ya i was offered the easy step but i didnt go with it, because after 2 yrs the mortgage repayments go up from about 800 to 1000 euro/month so id prefer to just start paying 900/month from now instead of making up for it later.

clubman i must check out that link thanks.
im stil not sure whether im gonna go fixed or variable.
when i applied i only had the choice of going 5yr fixed but in the meantime ive gotten a small salary increase so he said i can go variable once i can get my new salary cert when i start the new job.
 
happy123 said:
clubman i must check out that link thanks.
im stil not sure whether im gonna go fixed or variable.
Click to expand...
The calculator will just take the rate that you enter and assume it's fixed for the lifetime of the mortgage. This gives you an idea of what the repayments and overall cost of the mortgage will be but obviously differ from what actually happens on a variable/tracker rate mortgage over time. Still useful though.
when i applied i only had the choice of going 5yr fixed but in the meantime ive gotten a small salary increase so he said i can go variable once i can get my new salary cert when i start the new job.
Click to expand...
See the many other threads on the question of choosing a fixed versus variable/tracker rate mortgage.
 
You must log in or register to reply here.
Menu
Log in
Register