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The tax free termination benefit can be calculated by reference to the SCSB rules. Those rules dictate that if a waiver to a tax free lump sum from the employers' occupational pension scheme is not signed, the present value of that future pension lump sum comes off the SCSB amount, thereby...

In all of this, Has anyone undertaken any analysis of the value of fixed rates in retail mortgages? It would have to be point in time but it would interesting to see what total interest was paid by the person who locked into a, say 3 year rate in 2010 versus the person with the same mortgage...

Your bank/mortgage broker should be be able to provide you with a letter/e-mail stating that given the amount of the mortgage for which you have been approved, coupled with the deposits at your disposal, you have sufficient funds in order to complete the purchase at the agreed price. If you...

Any fixed rate a bank will offer you takes account of (reasonably) current market forecasts of how funding interest rates will move over the term you want to fix for - and then the bank add in some buffer in order to mitigate risk of unforeseen increases, and other risks. Even though the...

Seems a bit too good to be true but if they allow the full proceeds from the sale of the house to reduce the new borrowing, as their release suggests, it is very tempting indeed. I imagine in reality some of the proceeds will have to be used to reduce the existing tracker/level of borrowing...

They could need to enrol children in school as well at this time of year...

=pmt function in excel for the repayment including principal. You'll need to adjust the rate of interest to reflect monthly payments. Not just a case of dividing by 12. There's a formula for it. (1 + r/12)12 -1 , r being the annual rate. Interest only is fairly simple arithmetic.

Are there definitely no legal costs here as I would have thought the property would be currently registered in both names and the bank would want the registration changed. Make sure you're not losing a tracker rate or something like that as a result of the change, which would be very silly and...

Just want to explore the theoretical reason they could charge a higher interest rate. Provided there is no contractual implication for the interest rate, as in, nothing in the contract which says the interest rate defaults to a standard variable if the house is let, are you basing this power...

Oops - I see it now. I thought you had to actively de-register with Revenue, as PRTB not involved, but it seems you've done it so ignore my last post so if you are deregistered already on your non-PPR. Simply go online and re-register for your new house and be sure to get the money you're due.

I've received varying responses from Revenue staff over the phone on the policy where one purchaser is FTB and the other is not. Only way to get a supportable answer is to submit a query by e-mail. You'll need to supply your PPS. They won't respond otherwise. There is no clarity on their...

I agree Rosey. In a similar position. Wife loves the house, lots of niggly things came out in the survey - the vendor has addressed these but I then found other issues myself when I went to check that the surveyor's points had been addressed. Bottom line - if you don't think there are a load...

Yes, you should, but on a non-FTB basis. The allowances are much lower. I hate to say it, but you could have a liability there as you've been receiving TRS on your non-PPR based on FTB rates and the non-FTB rates you might be due back on your new PPS could be lower. I have seen people ignore...

Because that is the reality for people on that kind of money - a complete barrier to work - why bother! Basic 90,000 Pension (say 5%) -3250 86,750 Tax @0% (Expenses) 0 0 Tax @ 20% 32800 6560 Tax @ 41% 53,950 22,120 Total Tax 28,680 Tax Credits Single Person 1650 PAYE 1650 3300...

Yes mortgage protection life assurance which decreases over the term of the mortgage. If the policy has an implied 5% interest rate that means if rates went up to 6% the balance of the mortgage may not be covered

Does anyone know if a 5% mortgage protection interest rate is acceptable to the banks these days? Seems a bit low but the cheap premiums seem to be working off that... (Link for info on mortgage protection in key post no longer works)

From the published financial statements of EBS EBS Mortgage Finance (EBSMF) and Haven Mortgages Limited (Haven) are the principal trading subsidiaries of the Society. Both companies are wholly-owned by the Society. EBSMF is a covered bond bank which enables EBS to access liquidity and funding...

Stamp Duty also applicable here me thinks. Consanguinity reduction may still apply???

According to a bloke on the TRS helpline - that's how it is done! I had to doubleback when he said it for clarification. Evidently, not for long though, even stevens come 1 January. So apparently if you jointly incurred 6k, 10/13ths goes to the FTB, 3/13ths to the non FTB. The non-FTB is all...

Totally agreed. The bank could now offer you a tracker at a high margin, or even revert to rates at the date you switched. Such is the wording of the loan agreement reproduced by the OP. I would be surprised if this works out too much in your favour, but good luck.