Cashback Solicitor

Hey I'm little confused on this - so are people switching mortgage providers to get cash back offer and then quickly changing provider again? Do you not have to stay with lender for some time? By the time you pay legal fees is it worth it/ I'm with KBC years on 3% at moment (was 4.25 % at one stage but I got an interest rate review done). This is the second thread on this I've seen recently so would appreciate some info. Thanks !
Look up some of the earlier posts about switching that I have posted. Basically get all your paperwork in order to apply to PTSB, BOI, EBS who all offer 2% cashback and then get approval from them all. Do this all at the same time so you get approval and are ready to drawdown all loans at the same time. Apply for variable rates as it makes switching much faster and quicker. Then get your Solicitor to draw down the first new mortgage and then within 1-week drawdown the next mortgage and pay off the first one, and so on. You should get 2 % cashback from those 3 banks, so on a mortgage of 250,000 that is €5000 a time so €15,000 in cash backs in a few weeks, pay your Solicitor say €3000 and another €500 for 3 valuations and you should have €10,000 profit tax-free just from doing some paperwork. I know because I have done this a few times that yes it can get annoying with Banks looking for this or that but if you are organized and prepared to put in the work it is certainly very possible. Timing is very important and remember as far as all the Banks are concerned you are switching to them from KBC. They don't need to know that in fact, you might be with PTSB when you switch to BOI and with BOI when you switch to EBS.
 
Look up some of the earlier posts about switching that I have posted. Basically get all your paperwork in order to apply to PTSB, BOI, EBS who all offer 2% cashback and then get approval from them all. Do this all at the same time so you get approval and are ready to drawdown all loans at the same time. Apply for variable rates as it makes switching much faster and quicker. Then get your Solicitor to draw down the first new mortgage and then within 1-week drawdown the next mortgage and pay off the first one, and so on. You should get 2 % cashback from those 3 banks, so on a mortgage of 250,000 that is €5000 a time so €15,000 in cash backs in a few weeks, pay your Solicitor say €3000 and another €500 for 3 valuations and you should have €10,000 profit tax-free just from doing some paperwork. I know because I have done this a few times that yes it can get annoying with Banks looking for this or that but if you are organized and prepared to put in the work it is certainly very possible. Timing is very important and remember as far as all the Banks are concerned you are switching to them from KBC. They don't need to know that in fact, you might be with PTSB when you switch to BOI and with BOI when you switch to EBS.


thanks for that info! that's actually pretty incredible to be able to do with a bit of organisation. I have a mortage now approx 80K and considering moving which would increase my mortgage signficiantly so may make sense to do it then.
Any pitfalls or issues you're aware of? Would need to be aligned with a decent solicitor alright to have things run smooth I reckon.
 
If someone could send me on details of a solicitor in North Dublin for making switches also that would be appreciated!
 
Hi. Would appreciate any solicitor recommendation for multiple switch solicitor in Cork. Please
 
Hi, looking to do multiple switches possibly as a FTB or else after a year with one bank. Would appreciate if someone could PM a suitable solicitor in South Dublin, Thanks.
 
Like the pinned post says, I just finished four switches in six months: PTSB —> EBS —> BOI —> Ulster —> KBC. Loan is just over €550k so total cash bonus was €26500 (11 + 11 + 1.5 + 3). Solicitor's fees still being finalised with outlays etc. but will be well under €5k. Happy to recommend, PM me if you want the details.
 
Hi giddings, if you could be so kind to send on the solicitor. For some reason I can't pm you maybe I haven't got enough post. Thanks
 
Like the pinned post says, I just finished four switches in six months: PTSB —> EBS —> BOI —> Ulster —> KBC. Loan is just over €550k so total cash bonus was €26500 (11 + 11 + 1.5 + 3). Solicitor's fees still being finalised with outlays etc. but will be well under €5k. Happy to recommend, PM me if you want the details.
Please can you pm me the solicitor?
 
How are people managing the whole topic of mortgage protection in these multi-switches, as you need to release the interest bank A have in your policy, which can't be done until the loan has been cleared in full, using the proceeds of the new mortgage from bank B. Bank B however will need the policy in place before drawdown... Is it a case of taking out multiple new policies for each bank, and cancelling them afterwards?
 
How are people managing the whole topic of mortgage protection in these multi-switches, as you need to release the interest bank A have in your policy, which can't be done until the loan has been cleared in full, using the proceeds of the new mortgage from bank B. Bank B however will need the policy in place before drawdown... Is it a case of taking out multiple new policies for each bank, and cancelling them afterwards?
yes that is probably the best way to do it
 
How are people managing the whole topic of mortgage protection in these multi-switches, as you need to release the interest bank A have in your policy, which can't be done until the loan has been cleared in full, using the proceeds of the new mortgage from bank B. Bank B however will need the policy in place before drawdown... Is it a case of taking out multiple new policies for each bank, and cancelling them afterwards?
Why not just take one policy with a non-bank?
 
Why not just take one policy with a non-bank?
Because the problem exists for non-bank derived policies. There are two solutions as I understand it. Assuming you have enough protection in your existing policy 1) is to buy a new policy & cancel the old one after the previous mortgage has been cleared (or swap the new one with the old one, and cancel the new one), 2) to ask your solicitor to give an undertaking to transfer the policy to the new bank, once the previous mortgage has been cleared.
 
Hi, does anyone have a recommendation for a a multi switch solicitor in the Kildare area? thanks
 
Hi everyone,
If possible, could someone PM me the details of a solicitor in North Dublin please.
I've BOI and PTSB both lined up but don't have a solicitor yet so would really appreciate it.
Thanks!
 
Hi. Would appreciate any solicitor recommendation for multiple switch solicitor in Cork. Tks
 
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