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  1. M

    Will i have to break my fixed rate contract?

    if it is a new credit agreement, then most likely you will have to pay a break fee/cost... it would be a new credit agreement in my opinion as it is now a different credit risk - it is no longer a ppr
  2. M

    Tracker Mortgages - Handcuffs to trading up

    i thought that back in 2008 - when trackers went, even before the credit crunch crashed the local banks ability to lend... it already was stopping people and making them think twice about losing their precious tracker mortgages esp as every journalist out there was telling them it was gold dust...
  3. M

    When is KBC passing on the last rate reduction?

    i believe it is contactual - terms and conditions, be thankful you are on a tracker...
  4. M

    Fixed Rate mortgage procedures not followed?

    the facility letter or credit agreement should state the terms of your loan and that is what is legally binding... indeed it should have been signed and witnessed to be enforceable... get the bank to prove you signed up for the fixed rate... ask them for a copy of the contract, if they cannot...
  5. M

    Very disappointing response from Michael Noonan

    ok - so are we promoting anti - competitive, monopolistic banking here? Or is the real answer to just turn the "pillar" banks into Fannie Mae/ Freddie Mac type institutions of the state providing mortgage finance?
  6. M

    Christmas Antlers for car

    2 heads and a red shiny nose! lol :D
  7. M

    Fixed to Tracker.... where?

    it does not specify a set margin over ECB, if one is take "tracker" to equate to being an ECB tracker as opposed to e.g. a base rate tracker or a Euribor Tracker. So lets assume a good legal eagle or ombudsman looks at that and says ordinarily it would mean ECB Tracker. Then what margin? All it...
  8. M

    NIB eSaver alternative

    yes - but the beauty of online is that you can get money out in a hurry if things go pear-shaped as happened with Northern Rock. a phone line would be totally swamped in a run on AIB. and no - i am not opening this up to being a discussoin on runs on banks, just pointing out the inadequacy of...
  9. M

    ECB cuts interest rate to 1.25%

    i was biting my tongue as to whether to respond here given the wall of expectation, that just because cut its rates, the banks would cut variable rates. banks only take a portion of their funding from ECB - approx 60/70% I believe in Ireland. The remaining 30/40% has to come from ultra expensive...
  10. M

    nib easy current account mastercard question...

    it is separate. it is only easy plus or prestige that has mastercard gold and mastercard platinum respectively in the package. easy is not a package - it is just a bog-standard free (6 transactions per quarter free i think, plus all online free) current account, the mastercard standard is also...
  11. M

    LTV Tracker

    for those credit agreements where it mentions specific LTV then the bank may come to a decision to review the LTV condition being met. For those such as DME they have no issue. I know the NIB LTV product actually specifies that if the LTV goes above 80% in the life of the mortgage then the...
  12. M

    National Irish Bank - increase in rates

    that's contrary to what I have been told, so will have to confirm again. and if I look here - [broken link removed] and select the fixed rate as an option it gives discount as an option. anyhow, mine is the LTV fixed and it does not mention specifically about the package discount. I think...
  13. M

    National Irish Bank - increase in rates

    Fixed rates have not increased, in fact with the package discounts, one can get a discount to a fixed rate below old rates. I am thinking of breaking my existing LTV fixed and re-fixing at lower rate with discount. Optically, the APR on the fixed rate will have gone up as the reversion rate...
  14. M

    NIB E-saver - Rate reduction imminent

    you could be right CiaranT - Rabo have done similar, reducing rates as they see fit... if you are in the luxurious position of plenty of deposits then why pay up for them...
  15. M

    NIB E-saver - Rate reduction imminent

    if the rate is being cut on esaver, presume there will be some other form of leading rate to attract deposits. its probably just an inertia tactic. all banks do this kind of thing. in any case, there is still 3% for 12month fixed - just tie it up, and if you need it just break the fixed deposit?
  16. M

    BoI Cut Current Account Interest to Zero

    until Ulster put the free banking product off-sale... if I was working in Ulster that's what I would do. hoover up as much current acc market share as the last one with free banking - then put it off sale.
  17. M

    Can you transfer mortgage to a new property

    the point that most people miss in this scenario is that what you have is a mortgage on the property which is used as security for the loan. so the mortgage is property specific and cannot be transferred. It would also be a new credit agreement with respect to the loan - with a new loan document...
  18. M

    Question on Tracker Mortgage

    most likely you have to give your bank a copy of your house insurance and that will indicate that it is rented - if you have advised the insurer. From that the Bank will ascertain that the property is rented. Also, if you change your address for postal purposes for the bank, they will see that...
  19. M

    NIB mobile banking app

    yeah - but they never advertise, so they are the best-kept banking secret! I see that AIB has launched their mobile banking service today. www.aib.ie/mobilebanking they've said that they will be launching app in the future. Given their dominant market share in current accounts, people will...
  20. M

    Will Bank give me personal Loan to clear other debt

    I believe you are confusing debt consolidation where people in the past used it as a means of leverage - to take on more debt by reducing payments. Indeed that kind of activity is I suspect almost non-existent. Consolidating unsecured short-term debt for financially distressed customers on the...
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