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B. Bub

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I'm sorry if this has been asked before, but I'm getting conflicting opinions on the de-mutualisation issue.

If I take out a mortgage now and they de-mutualise in the near future would I be entitled to a compensation payment?

Thanks,

B.Bub
 
Hi,

Thanks for the reply.

Where would I find out this information to find out when the cut off date was?


b.bub
 
there is loads of demutialisation info on here somewhere, have a good look through askaboutmoney
 
Hi Glenbhoy

You are confusing mortgages with share accounts.

If BB takes out a home mortgage now with the Irish Nationwide and it demutualises after the end of this year, he will qualify for a windfall.

If it demutualises before the end of this year, which is extremely unlikely, he won't qualify for a windfall.

Brendan
 
realised I was wrong after looking at the forum, just thought that the 2 year rule would apply regardless. Should have gotten my mortgage there then :)
 
Thanks all,

I actually phoned Irish Nationwide to ask them.

I was told that what the papers say is just specualtion and nothing has been set.

There has been no cut off point yet. He told me that there will be a cut off point at some stage and once the proposals are announced they will include a cut off date after which you will not qualify. He couldn't tell me how far back this cut off point would go.

There you go.

B. Bub
 
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