Molly Bloom
Registered User
- Messages
- 40
The main concern might be that the banks will have no choice but to get people to re-value the property which might push people off certain trackers.
I would imagine there would be a significant overhead for them in organising this? Would it be enough in more marginal cases to not make it worth their while? Also, customers would have the option (assuming they can fund it of course) to pay in a proportion of the loan to bring them back within the threshold of the LTV deal they were on? Would that be the case?If NIB decided to force me to re-value then I would loose my tracker possibly, its in the T&C's. NIB have said previously (a year or two ago) that they will not go down this route. The point now is maybe they will have no choice giving the funding difficulties or use it as an excuse.
KBC mortgage customers might be in a better position, as they are not with an Irish owned bank.
Hoping some AAMers will have some pearls of wisdom for me on this ..... I have a tracker mortgage (ECB + 1%), and I know how lucky I am to have it!
Just wondering, given the confirmation last night that a substantive loan will be given to Ireland by the ECB / IMF, is there any possibility that, as part of the repayments for this, and the attendant re-structuring of our economy, that we might be compelled to move to some 'higher' level of ECB rate (for sick economies, maybe including Greece, Portugal, etc)? Meaning a higher level of repayments for those with tracker mortgages?
What do people think?
compelled to move to some 'higher' level of ECB rate (for sick economies, maybe including Greece, Portugal, etc)? Meaning a higher level of repayments for those with tracker mortgages?
First I heard of the possibility of a different base ECB rate for Ireland.
economy, that we might be compelled to move to some 'higher' level of ECB rate (for sick economies, maybe including Greece, Portugal, etc)? Meaning a higher level of repayments for those with tracker mortgages?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?