I like a few more here switched 3 times in 6 months and received €18000 in cash backs. Take away €2000 for the solicitor fees i am very happy to have €15/16,000 in my back pocket. I am a public sector worker paying the higher rate of tax. I would have to earn €32,000 to get €16,000 so i certainly don't think it's hassel. If you know an easier way of making money Michaelm i'd love to hear it. If people don't want thousands of euro well then that's their choice.While it all sounds fine and dandy it seems a bit like clowning to me. Maybe you'll make a couple of grand net of solicitor fees and ongoing interest but switching mortgage is a hassle too. If I had the means to clear my mortgage I'd just do it and be done. I reckon they'll reject your application if they see you have the funds to clear it.
While it all sounds fine and dandy it seems a bit like clowning to me. Maybe you'll make a couple of grand net of solicitor fees and ongoing interest but switching mortgage is a hassle too. If I had the means to clear my mortgage I'd just do it and be done. I reckon they'll reject your application if they see you have the funds to clear it.
Hi Michaelm i am getting better as i go along, i wasn't always as organised but the more you do the more you learn. I now scan all my payslip and save them onto my PC, i download bank statements and Credit card bills and save them in folders in my PC. I also have my Drivers Licence and Passport pictures saved onto my PC. Same with my Electric bill as proof of address and last years mortgage statement also saved. I have only started doing this in the last 3 months since i started looking to switch my CC debt to new 0% offers on balance transfers. I can now do a complete application for mortgage and Credit card in about 20 minutes max. It is really brilliant because you just bang out the applications and see how you get on. BTW Bank Of Ireland have now refused me twice for a Credit Card. I must appeal and get a reason from them.Not too many people will be in the same position as Sean Og, carrying a big mortgage but strong numbers re approval. Methinks Sean is more organised, calculating and meticulous than the average bear. Deft financial choreography and a co-operative and competent solicitor are also required. It will be interesting to hear whether the banks baulk second time around.
I switched to UB a few years ago for cash back and lower rates. My solicitor was useless and had to be lead through the process by the nose. Given my situation it was a minor miracle getting approval at all.
My original response related to the OP's situation rather than the caper in general. Banks aren't all that interested in small mortgages and I don't believe they will lend retail customers much more than they need. Which is why, if I'm the OP, I just clear the mortgage and work on. I don't believe they can wring anything like €10k net out of their situation. Happy to be proven wrong, hope they report back after.
Second that, being organised is key to doing this without wrecking your head.Hi Michaelm i am getting better as i go along, i wasn't always as organised but the more you do the more you learn. I now scan all my payslip and save them onto my PC, i download bank statements and Credit card bills and save them in folders in my PC. I also have my Drivers Licence and Passport pictures saved onto my PC. Same with my Electric bill as proof of address and last years mortgage statement also saved. I have only started doing this in the last 3 months since i started looking to switch my CC debt to new 0% offers on balance transfers. I can now do a complete application for mortgage and Credit card in about 20 minutes max. It is really brilliant because you just bang out the applications and see how you get on. BTW Bank Of Ireland have now refused me twice for a Credit Card. I must appeal and get a reason from them.
Yes my mortgage is large and worth while switching and i have a great Solicitor but just get everything in order and into one folder on your PC if possible and away you go .
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