ICS €1000 to First Time Buyers

This incentive is automatically available to ICS Building Society First Time Buyers who apply for mortgage from 23rd February 2009 and drawdown by the 30th of September 2009.

The incentive is also available to pipeline First Time Buyer applications submitted prior to 23rd February 2009 and drawn down by the 30th September 2009 on request from the customer – If a customer request is received send an email on the existing application requesting a revised offer letter with the incentive.

There are no LTV or mortgage amount restrictions on the incentive.

Claw back - This incentive is subject to a 5-year clawback should the mortgage be redeemed within this period.

How is it paid - The €1,000 cash incentive is paid into the customers mortgage paying account within approximately 5 working days of mortgage drawdown date.

Hi norfbank, I wonder is this for new properties only? or are second hand properties included?
Could you explain this "5 year claw back?" I haven't a notion what that actually means!
I was offered this deal at a fixed rate of 2.55% for one year.
The variable rate i was offered before was i think in the 4.5% range.
Any opinions?

5 year clawback means that if you move your mortgage away from them within 5 years, they will want that €1000 back off of you.

Thanks for the quick reply paddyw

Just thinking there, it may also apply if you pay off the mortgage before 5 years is up also.

And you're welcome avontuur.

If i'll manage to pay it back in 5 years i'll be laughing,
which reminds me to do the lotto!