The Irish Nationwide probably the best mortgage for many people

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Re: The Irish Nationwide must be the best mortgage for many people

So, Brendan, should the Title of this Thread reflect the new reality!!

Do you still recommend that ppl switch in the expectation of a windfall?

Or does the Ombudsman decision derail the whole process?
 
Re: The Irish Nationwide must be the best mortgage for many people

Brendan said:
It could also take a few years to sort out the mess before the Society is ready to be sold.
Click to expand...

Sooooo, would you say it was still possible for carpetbaggers with 20K to spare (SSIA for instance) to get a windfall payment by depositing into a deposit account?
 
Re: The Irish Nationwide must be the best mortgage for many people

dillons said:
dillon - I have deleted your question as it's the umpteenth time it's been asked. Read the FAQ for mortgage holders and read the FAQ for share accounts.

Brendan
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Brendan,

I did read and quote the FAQ re mortgages.... not related to share accounts at all!
This Question is taken from Irish Nationwide website related to Borrowing Members, it states that borrowing members (mortgage holders) had to have a housing loan with society (both FA & IP) 2 yrs before the date notice was given
Am I missing something??

Q.12What was the basis for entitlements for borrowing members to free shares in the case of the First National Building Society (First Active Plc) conversion? A.12In order to be a qualifying borrower that is a borrowing member entitled to receive free shares a borrowing member in the case of First Active had to:
  1. Have a housing loan with the Society two years before the date notice was given to members of the conversion resolution. (Irish Permanent also had this requirement).
  2. Have one or more housing loans with the Society as sole or first named borrower where the total amount owed was at least IR£500 (€625) on the previous 31 December and be at least IR£500 (€625) on the date the conversion resolution was voted on.
  3. Be a resident in certain countries (permitted territories) as defined in the conversion scheme at the date the conversion resolution was voted on.
[broken link removed] For an update on Demutualisation click here.
For further details contact Irish Nationwide Head Office, call + 353 (0)1 609 6000 or email: the.secretary@inbs.ie.
 
DillonS

I apologize. I had not seen this bit before. And I was not aware that there was a two year rule for the Irish Permanent and the First Active.

I have revised my advice in this thread

Brendan
 
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