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  1. L

    Tax on Interactive Brokers uninvested cash interest

    Thanks all for the guidance, much appreciated
  2. L

    Tax on Interactive Brokers uninvested cash interest

    Thanks again, no it would be definitely under €5k, prob about €2k-3k in a year. DIRT would be preferable to my marginal rate of income tax do I'll maybe check with Revenue how that is declared. Bit of a pain but still better than Irish Bank saving rates.
  3. L

    Tax on Interactive Brokers uninvested cash interest

    Thanks for your reply. So the interest earned is treated as income and is subject to my marginal rate of income tax (I'm a PAYE worker) and it's also subject to DIRT tax?
  4. L

    Tax on Interactive Brokers uninvested cash interest

    Hello, strangely even though I'm tax resident in Ireland I was set up with an Interactive Brokers Hungary account. When it comes to the tax treatment of interest earned on cash balances they have said that the assets are held outside of Hungary and non Hungarian customers are not subject to...
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    Rejected purely on switching frequency

    Thanks for everyone's thoughts. Obviously a bank is a commercial entity but their switching conditions aren't at all transparent. Given the regulatory drive to promote the ease of switching I wasnt sure if they could refuse on the grounds of too many switches. Brendan - on what basis do you...
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    Rejected purely on switching frequency

    I think a lot of the banks won't let you switch without a minimum of 12 months with your previous provider and EBS will only allow cashback once, still I did meet the 12 month requirement and answered all questions in the application honestly. They called today to say that I was refused purely...
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    Rejected purely on switching frequency

    Hi all, PTSB's credit team just rejected my switch request solely on the basis that I have switched too frequently in the past 5 years (quite a few times). Their mortgage team accepted my application as I had been with my previous provider for over 12 months but was told today that the credit...
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    Velocity Banking: Borrowing on your credit card to pay your mortgage

    There are YouTube videos on 'velocity banking', one with a couple of million hits... General concept being is that there is a saving on interest repayments if you put short term credit card borrowing as overpayment into mortgage then pay back credit card debt in an efficient manner
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    Velocity Banking: Borrowing on your credit card to pay your mortgage

    Does anyone know about the theory behind 'Velocity banking' and whether it could work in relation to an Irish mortgage? From what I've read this strategy uses short term credit (e.g. Credit card balance) to make lump sum payments off a mortgage with the aim of reducing the term or overall loan...
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    Reduce mortgage?

    Another way of asking the same question: is it possible to remortgage an existing mortgage for a higher amount if the reason isn't paying for renovations, illness or education? In this case it would be to help raise the 20% deposit to move house.
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    Reduce mortgage?

    Just following up on this old thread. Our situation is that we want to trade up to a more expensive house in about a year's time. Our existing mortgage has a LTV of 60%. We have a lump sum saved but it would obviously be advantageous to use it now to pay a bit off the principal of our existing...
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