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    Archived pages: 512 . Archive date: 2012-07.

  • Title: Discount Rate Mortgage | Discounted Variable Rate Mortgages | Discount Mortgage
    Descriptive info: Discount Rate Mortgage.. Mortgage lenders generally offer an initial discount off their variable rate mortgage.. Usually, the discounted rate only applies for the first year and then it reverts to the standard variable rate.. For the discounted period, you'll have more money in your pocket, which is useful for those extra costs you'll incur when you a buy a home, such as decorating and buying furniture.. PROS of a discount rate mortgage:.. Cheap initial rate.. Payments are low at first.. CONS of a discount rate mortgage:.. You'll revert to the higher standard variable rate at the end of the discounted period.. Who does a discount rate mortgage suit?.. Discounted rate mortgages are most suitable for people who are looking for the cheapest  ...   option than a 12 month fixed rate, as you would benefit from interest rate drops in the mean time.. Alternatives mortgage rates to consider.. Fixed rate mortgage.. Other Popular Articles:.. Buying a Home - Step by Step.. Mortgage Application Process.. Rates Costs.. Do I Need a deposit?.. Which type of mortgage is best for me?.. How Much Can I Borrow?.. Would I Be Approved?.. Approval in Principle - Why it's so Important.. Get a Mortgage Quote NOW.. Quotes from Chrome Capital.. Low Cost Legal Fees.. For Home Buyers or Sellers.. 799 + vat + outlay.. Mortgage Quote.. Property Surveys.. Snag Lists.. BER Energy Ratings.. Property Guides.. Property News.. Home Buyers Guide 2009.. HOME BUYER WEBSITES:.. 2009.. Pay Per Click.. by.. PPC Ireland..

    Original link path: /mortgages/discount_rate_mortgage.asp
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  • Title: Irish Mortgage Approval - what's required?
    Descriptive info: What's required to arrange mortgage approval?.. - Signed Mortgage Application Form.. - Details of your income (payslips, P60, Salary Cert).. - Details of your existing loans (mortgage loan statements showing your payments over the last year).. - Bank account statements for 6 months.. - I.. D.. (passport / driving license a utility bill e.. g.. ESB,  ...   (if you are separated / divorced).. - Accounts (if you are self employed).. It also helps to have to following on any application:.. - Details of the rent you are currently paying.. - Details of any savings / shares etc.. Legal Fees Calculator - don't get caught out by hidden fees - work out ALL your costs..

    Original link path: /mortgages/whats_required.asp
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  • Title: Frequently Asked Mortgage Questions
    Descriptive info: Frequently asked mortgage.. questions.. :.. If your question isn't answered in the mortgage guides in our.. jargon buster.. or in the.. home buyer guide section.. it may be answered below:.. How many years can I take a mortgage over?.. What is an interest only mortgage?.. What is a tracker mortgage?.. My credit history is not spotless.. Can I get a mortgage?.. The local authority will sell me my council home under the Tenant Purchase Scheme - how much can I borrow / what deposit will I need?.. What is a remortgage?.. Can I get a mortgage for an overseas property in Ireland?.. What deposit do I need - can I borrow 100%?.. How many years can I take a mortgage over?.. (return to top).. The maximum term that most lenders will consider for first time buyers and owner occupiers is 40 years (although some will only lend for up to 35 years).. Buy to Let mortgages usually have a maximum term of 20 - 25 years.. The rule of thumb, to keep in mind, is that the lenders will require the mortgage to be completed by the age of 70 - so if you are 32 years old now, the maximum term for you is 38 years.. What is an interest only mortgage?.. An interest only mortgage is a mortgage where you pay only the interest payments (either for a number of years, or for the term of the mortgage).. Therefore, when you are on the interest only mortgage, the amount you have borrowed will remain constant - as you are paying nothing off the mortgage amount.. It may not be suitable for everyone.. It has  ...   under a certain level.. Tracker mortgages are not available in Ireland at present.. Can I get a mortgage?.. The Banks and Building Societies won't consider offering you a mortgage if you are in arrears, or if you have a less than perfect credit history.. The local authority will sell me my council home - how much can I borrow / what deposit will I need?.. When you are buying a home from the council, you will receive discounts of up to 30% off the property value.. Therefore some lenders will consider lending you 100% of the purchase price even some additional money for home improvements.. To arrange approval.. click here.. What is a remortgage?.. A.. remortgage.. is a way of releasing equity from your existing home, in order to consolidate loans, to raise money for lots of different reasons (home improvements, buying overseas property, helping the kids with a deposit for their first home.. ), or simply to swap lenders to get a better (and cheaper mortgage).. Can I get a mortgage for an overseas property in Ireland?.. If you are planning on buying an investment property in the UK, some Irish lenders will offer a sterling mortgage option.. If you are buying in other countries (Spain, Hungary, USA etc), you generally have two options - either arrange a mortgage through a lender in the country where you are planning on buying the property, or by refinancing your Irish property to release equity to fund the purchase.. What deposit do I need?.. It depends on if you are a first time buyer, home mover, refinancing or buying to let.. Click here for more.. Mortage Lender Profiles..

    Original link path: /mortgages/faq.asp
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  • Title: Fixed Rate Mortgage | Fixed Rate Mortgages
    Descriptive info: Fixed Rate Mortgage.. The concept of a fixed rate mortgage is simple.. No matter what happens to the ECB rate, your monthly repayments remain the same for however long the rate is fixed for.. In return for this peace of mind, you have to commit yourself for a set period of time.. If you decide within this period to move home or change mortgage lender, you will be charged a early repayment penalty called a 'breaking fee'.. Fixed Rate Basics:.. The fixed rate period can be as short as 1 year, or as long as 20 years.. Generally speaking, the longer you fix the rate for, the higher the interest rate.. PROS of a fixed rate mortgage:.. You are not affected by rises in interest rates.. Most people find it is easier to budget because payments are consistant.. Provides peace of mind for  ...   rates tend to be less flexible than variable or tracker rates.. For example, most lenders won't allow you to make any additional or lump sum payments.. When the fixed rate expires, some lenders will automatically move you over to a standard variable rate, rather than a better value tracker mortgage.. Who does a fixed rate mortgage suit?.. They are particularly good for first time buyers and anyone on a budget.. The most important thing to remember about fixed rate mortgages:.. If you are planning to take a fixed rate, ask yourself if there is any possibility that you will change lenders, or pay off your mortgage within the fixed rate period.. So, if for example you think you might move in 3 years time, you should take a fixed rate of less than 3 years, so you can avoid paying early repayment penalty fees..

    Original link path: /mortgages/fixed_rate_mortgage.asp
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  • Title: Irish Mortgage Terms Explained
    Descriptive info: Irish Mortgages - terms explained.. Glossary of terms.. Click on a letter below to go to that section.. A.. B.. C.. D.. E.. F.. G.. H.. I.. J.. L.. M.. N.. P.. R.. S.. T.. V.. Acceptance or Arrangement Fee.. Some 'specialist' or bad credit lenders charge this fee when they give you a mortgage it usually is about 0.. 5% - 1% of the value of the loan.. Most traditional lenders do not charge this fee.. Advance.. This is the total amount of the loan you receive.. Agents.. (see Estate Agents).. APR.. Annual Percentage Rate.. Annuity Mortgage.. A mortgage where the capital and interest are paid off in monthly installments.. Auction.. Property sale.. If you win the bid you are legally bound to buy the home so it is vital to have a mortgage approved and to make sure that the house is structurally sound before the auction.. B.. (back to top).. Bridging Loan.. A temporary loan to allow you to buy your new house before you get the funds from selling your own home.. Broker.. An independent intermediary who will give you advice and offer a range of mortgages.. Building Insurance.. Insurance to cover any structural damage to your home.. All lenders will need their interest in your home to be noted on the policy.. C.. Capital.. The sum borrowed to buy the home.. Chain.. This happens when the seller needs the sale of their house to close to complete the purchase of another property.. The same situation may happen for other people in the chain.. As a result if one sale falls through the whole chain can collapse.. Charge (or Legal Charge).. This is the security that the lender relies on when granting a mortgage.. This is usually recorded at the Land Registry/Registry of Deeds.. Completion.. The point when contracts have been exchanged and ownership legally passes to the buyer.. Contents Insurance.. Insurance to cover any loss or damage to your possessions.. (It is often better value to take contents insurance as part of the buildings insurance policy rather than on it s own).. Contracts.. A written legal agreement between the seller and buyer.. Conveyancing.. Legal work involved in buying and selling a home.. (Read our article on.. Low Cost Conveyancing.. ).. D.. Deeds.. The documents which shows the ownership of a property.. Disbursements.. Expenses paid out by the solicitor on behalf of the purchaser.. (e.. postage/couriers).. E.. Endowment Mortgage.. Interest is paid to the lender each month.. A payment is also paid into a savings/investment policy each month.. The loan is repaid at the end of the loan period from the proceeds of this policy.. Equity.. The amount of the property you own i.. e.. the property value less the mortgage balance.. Estate Agent.. Property Agent who works on behalf of the seller who has the aim of getting the highest price for the home.. Exchange of Contracts.. The point at which the buyer and seller are legally bound to the sale and purchase of the property.. Failed Valuation.. When the lender turns down your mortgage application after reading the surveyor s valuation report.. First Charge.. A legal charge used by the lender to secure the mortgage.. The lender has a first call on any funds available when you sell the property.. First Time Buyers Grant.. This grant is now no longer available..  ...   formula used to work out the percentage of the value of the house that you borrow from the lender e.. if the house is worth 100,000 and you borrow 50,000 the Loan to Value is 50%.. M.. Mortgage.. A long term loan to finance the purchase of a property.. Mortgagee.. The lender of the mortgage.. Mortgagor.. The house buyer who takes out the mortgage.. Mortgage Term.. The period over which the mortgage is to be repaid.. Mortgage Protection.. An insurance policy which will pay off a fixed amount of money on the death of an individual.. (Also see Serious Illness).. N.. Negative Equity.. When the value of a home falls to less than the balance of the mortgage.. P.. Pension Mortgage.. Mortgage available to self employed people, people without a pension scheme and owner directors of companies.. Monthly interest payments are made to the lender, and a pension policy is set up to pay off the mortgage when the mortgage holder retires.. It can be very tax efficient.. Speak to your broker for more details.. Premier Guarantee.. Similar to Home Bond.. Premium.. The monthly amount payable for an insurance policy.. Principal.. The original amount of the loan.. R.. Redemption.. Paying off the mortgage either to move home or at the end of the mortgage term.. Redemption Penalty.. Lenders charge a penalty if you pay off your mortgage when you are on a fixed rate.. Repayment Mortgage.. Searches.. Your solicitor carries out searches to ensure the person selling the property has a legal right to it and that there is no other interest shown on the title.. Serious Illness Cover.. This is a type of insurance which can be taken out as part of your Mortgage Protection Policy which will pay off your mortgage if you suffer a serious illness from the insurance company s list.. It is recommended.. Snag List.. When a new home is built the buyer is recommended to arrange for a surveyor to check if there are any defects which need to be fixed before they complete the sale.. Sole Agent.. When a seller sells their home exclusively through one Estate Agent.. Solicitor.. Legal representative who acts on behalf of a buyer or a seller in the purchase or sale of a house.. Special Conditions.. Specific Terms on the loan offer letter which must be satisfied before the loan advance is paid out.. Stamp Duty.. A government tax on buying a home.. See.. article.. Structural Survey.. A report detailing whether the house is structurally sound and listing the major and minor defects.. This is recommended for second hand properties.. Surveyor.. The person who carries out the structural survey of the property.. T.. Term.. The period for which a mortgage is taken out.. Title.. The legal right to ownership of a property.. Title Deeds.. A tracker mortgage is fairly new to the Irish mortgage market.. It is similar to a standard variable rate mortgage, with one main difference - it 'tracks' the European Central Bank (ECB) rates.. V.. Valuation Survey.. A survey carried out by the lender to ensure that the house is not worth less than the proposed loan.. This is separate to a structural survey which is recommended for a second hand property.. Variable Rate.. An interest rate that can rise or fall, depending on prevailing rates with the European Central Bank (ECB)..

    Original link path: /mortgages/glossary.asp
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  • Title: Interest Only Mortgages Ireland
    Descriptive info: Interest Only Mortgages in Ireland:.. Please note:.. Due to current market conditions, interest only mortgages may not be available from some (or any) lenders.. Please speak to a consultant for further details.. An interest only mortgage is a mortgage where you pay only the interest payments (either for a number of years, or for the whole term of the mortgage.. You do not pay any money off the capital.. First Time Buyers.. often find interest only mortgages useful because it allows them to keep their repayments lower in the first year (or first couple of years), when  ...   allow for.. Property Investors.. have also been attracted to interest only mortgages.. They use it as a way to keep the mortgage repayments lower, with the view that rent may raise in the future.. Investors whose main aim is capital appreciation in property values, have used it to buy more properties, with less strain on their finances as they are only servicing the interest.. Interest only mortgages are not.. suitable for everyone.. W.. hen you have an interest only mortgage, the amount you have borrowed will remain constant - as you are paying nothing off the mortgage amount..

    Original link path: /mortgages/interest_only_mortgages.asp
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  • Title: Loan Consolidation Mortgage
    Descriptive info: Loan Consolidation.. What is Loan Consolidation How does it work?.. Loan consolidation is the process of replacing multiple debts, including your loans, credit card balances and mortgage, with one easy to manage payment.. Simply add your mortgage balance to what you owe on your credit cards and your loans and then add any additional cashback you require.. If you want to go ahead with it, you'd sign an application form and return it with a few documents like payslips and your P60.. The whole process can be completed within approx.. 3 - 4 weeks.. All your loans will be  ...   in your pocket every month.. You can pay off your expensive loans.. Clear off your credit card balance.. Consolidate your loans and mortgage debts into one low monthly payment.. Reduce your monthly outgoings, often by 50% or more.. And raise extra cash for variety of reasons.. CONS of Loan Consolidation:.. If you consolidate all your loans over the full mortgage term, you would pay more in interest overall.. However, with some lenders, you could opt for a 'split mortgage' and pay off your short term debts over a shorter period than the rest of the mortgage to avoid this..

    Original link path: /mortgages/loan_consolidation.asp
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  • Title: Mortgage Broker | Mortgage Brokers Ireland
    Descriptive info: Why should you use a Mortgage Broker?.. Whether you are planning to buy a property in Ireland, or remortgage your existing one, we believe that it's important that you get professional mortgage advice from an independent mortgage broker.. Why should you use a mortgage broker, rather than getting a mortgage directly from my bank?.. 1.. If you speak to your bank about getting a mortgage, they will only recommend one of their mortgages.. they are unlikely to tell you if you can get a.. better deal.. from the building society or the bank down the road!!!.. 2.. There are so many more.. options.. available in the Irish Mortgage Market - but generally speaking, each lender will offer some options but not necessarily all the available options.. For example:.. Does your bank offer current account or offfset mortgages?.. Or cheque book mortgages?.. Can you take a payment break from  ...   or do a lot of research yourself, it's difficult to compare mortgages from one lender with another, as you aren't always comparing like with like.. More importantly, good Mortgage Brokers spend a lot of money to ensure that their information is up to date, so they can recommend the best mortgage deals to you.. 3.. Will your lender offer you a big enough mortgage?.. Lending criteria varies significantly from one lender to the next, so even if your bank won't lend you enough money, it doesn't mean that another one won't.. It's just that different lenders have different preferences, so while one lender may see you as a 'dream client', another lender may see you as a risky one.. One of the central jobs of mortgage brokers, is to find you a lender who will offer you a big enough mortgage for the property you are interested in..

    Original link path: /mortgages/mortgage_brokers.asp
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  • Title: Mortgage Interest Rates & Costs
    Descriptive info: Mortgage Interest Rates Costs.. Mortgage Fees Home Buyer Costs:.. Mortgage Valuation Fee.. Cost: Usually 130 - 150.. This is standard with all the lenders is required on all new and second hand homes.. Final Mortgage Valuation Fee.. Usually Cost 65 - 70.. (new homes only).. This is standard will all the lenders.. If you buy off plan, the lenders will require a final valuation when the property is finished.. Indemnity Bond Fee.. This is an upfront one-off fee charged by some lenders if you borrow in excess of 70-80% of the house value, to  ...   Arrangement or Acceptance Fee.. Cost: Usually 0.. These fees are not charged by the main stream lenders, but are charged on specialist and subprime mortgages i.. if you have a bad credit history etc.. The fees charged are generally between 0.. 5% to 1% of the mortgage amount.. Other Home Buyer Costs:.. Legal Fees.. ie offer you discounted, low cost legal fees at.. 799 + vat.. Legal Outlays (Government, Land Registry Legal Search Fees).. Cost: Varies from 100's to 1000+.. Legal outlays vary depending on the price and type of the property, among other things..

    Original link path: /mortgages/mortgage_interest_rate_costs.asp
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  • Title: Mortgage Interest Relief Ireland
    Descriptive info: Mortgage Interest Relief (updated with April 2009 Budget details).. What is Mortgage Interest Relief?.. The government will give you tax relief on the interest you pay on your mortgage - for the first 7 years that you are living in a home.. This will be given to you at source.. (i.. paid directly into your bank account each month), by your mortgage lender.. When you complete the home purchase, your lender will send your the relevant forms to fill in.. There has been a lot of confusion in the media about the changes in the April 2009 Budget.. It is not open exclusively to first time buyers -.. it is open to all owner occupiers.. - as long as you have been living in your home for 7 years or less.. If you move home, the 7 years starts over.. So for example, if you sold your existing home and bought a new  ...   the interest part of your mortgage payment only.. Up to a limit of 20,000 for a couple / 10,000 for an individual, per year.. So how does this work in practice? (First 2 years in a home).. Example: 300,000 mortgage over 35 years assuming an interest rate of 5% (5% apr).. Joint borrowers.. Your gross mortgage payment is 1514.. 06 per month (capital interest).. 270.. 20 is paid off your mortgage balance on average per month ( 3242.. 40 per annum).. 1243.. 86 is paid in interest on average per month (this works out at 14,926.. 36 per year).. This is under the 20,000 ceiling, so relief is granted at 25% on the full 14,926.. 36 for the first 2 years.. 14,926.. 36 x 25% = 3,734.. 09 per year or 311.. 17 on average per month.. This amount ( 311.. 17) will be paid into your bank account by your lender each month..

    Original link path: /mortgages/mortgage_interest_relief.asp
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  • Title: Irish Mortgage Lenders | Home Loan Lenders | Mortgage Lenders Ireland
    Descriptive info: Irish Mortgage Lender Profiles.. Click on the links below to read a profile of the different Irish Mortgage lenders, their criteria, their good points and bad points.. AIB / AIB Finance.. Bank of Ireland Mortgages.. EBS Building Society.. Haven Mortgages.. KBC Mortgages.. ICS Building Society.. Permanent TSB.. Start Mortgages..

    Original link path: /mortgages/mortgage_lenders.asp
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  • Archived pages: 512