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    Pay cut due to COVID-19

    Hi Folks, My wife has been informed that due to COVID-19, an immediate pay-cut will be implemented. Looking at supports available, it looks like this does not apply to people who have had an enforced pay cut; looks to be only those with reduced hours or laid off entirely? Does the employer...
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    Balancing Savings vs Mortgage

    Thanks for all the advice. Wanted to post an update: - Have made a lump sum AVC to max my contributions for 2018 - Have paid off car loans in full - Have a valuation scheduled for next week - depending on value, will make a lump sum payment off mortgage and switch to LTV < 50%
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    Balancing Savings vs Mortgage

    I guess it's just a comfort having the savings, was looking at mortgage calculator so will use that to show interest savings. Will get on to BOI re paying off car loans.
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    Balancing Savings vs Mortgage

    Thanks again for all the replies. @stantheman Pension pot is currently at €140k. Haven't made an AVC in respect of 2018 as of yet but plan to do so. @niceoneted Yeah, that was my broad plan, try to clear before second child hits college. Good chance that if they go to college then they will...
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    Balancing Savings vs Mortgage

    Thanks for the replies. Savings aren't intended for anything specific other than college in the future. No major home improvements on the horizon and no intention of moving in the medium term. Will target the car loans, mortgage and pensions. Would consensus be to just get on < 50% LTV with AIB...
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    Balancing Savings vs Mortgage

    Age: 42 Spouse’s/Partner's age: 40 Annual gross income from employment or profession: €75k (+ annual bonus of €6k - not guaranteed) Annual gross income of spouse: €25k (part time) Monthly take-home pay €5,400 Type of employment: e.g. Civil Servant, self-employed Private Sector In general are...
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    Should we switch from AIB?

    Some good advice there gnf_ireland. We currently owe 185k with house worth approx 320k. We paid a lump sum earlier in the year and hope to do the same next year. I'm going to hold out switching until I have an LTV < 50%.
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    Should we switch from AIB?

    I called AIB this morning as am interested in moving from a standard variable rate to LTV band. They asked had I ever been on an LTV rate and I said no, so the process seems very easy - just get the valuation done and send in a signed letter stating you wish to move. On foot of this thread, I...
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    Paying tax on additional income

    Thanks for the replies. Yes, correct, I do not have my own company setup so I just send in an invoice for the hours worked and they pay me the gross amount. I like the idea of making a pension AVC to offset the tax. I'm not sure if this is complicated by the fact that my pension is associated...
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    Paying tax on additional income

    Hi All, I am a PAYE worker but did some extra work for another company in 2016 for which I earned approx €10k. When do I need to declare this to revenue, is it by Oct 31st 2017? Thanks
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    Irish new mortgage rate 3.38% compared to 1.72% in Eurozone

    With the Central Bank now highlighting the difference in the rates, what will be the next step? When are customers likely to see any movement in rates and who will drive it? Will it be the government via legislation, the central bank or are we dependent on the banks themselves doing something...
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    New State Savings 4 Year "Solidarity Bond" Term Deposit

    I meant the max you can spend on your card rather than a bank transfer. AIB limit on debit card transactions is €5,000.
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    Childcare

    Anywhere I can get some more information on this?
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    New State Savings 4 Year "Solidarity Bond" Term Deposit

    Off topic a little but you can now purchase the 5 years certs and 4 and 10 year bonds online from statesavings.ie. As long as you already have an account and have provided all the documentation, you are good to go. The only limit is with respect to the max you can withdraw from your bank account...
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    State Savings (NTMA) bonds and certs looking good

    You don't need to open a new account every year. After the end of year one, the balance in the account is pushed off to another account where is stays for another 5 years. You'll end up with multiple accounts eventually but you get annual statements detailing the amounts in each. At the end of...
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    Job Seekers after Maternity Benefit

    Thanks for the feedback.
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    Job Seekers after Maternity Benefit

    Realistically, she is hoping to take the summer off and pick up something in September as we have provisional childcare arrangements made for then. I suppose my question is, is she entitled to claim?
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    Job Seekers after Maternity Benefit

    Hi All, My wife was working on a year long contract during 2015 (working a 3 day week). She was on a contract prior to this also working 5 days a week. She is currently receiving the state maternity benefit and this is up next week. Is she entitled to Job Seekers benefit following this...
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    The political parties' policies on mortgage rates

    What about the Anti Austerity Alliance? I had a canvasser call during the week but they did not know the position. Am waiting for a follow up call. Can't see on their website if they have any policy with respect to mortgage interest rates.
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    Overpaying an AIB mortgage

    No problem. I'm considering paying a lump sum myself at the moment. The temptation is to just reduce the term but the advice seems to be to reduce the payment amount via the lump sum but continue to pay your mortgage at the current rate as this gives the most flexibility if you run into...
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