Search results

  1. 4

    Encashment recd query pay off mortgage

    Once you spend these funds on reducing your mortgage they are gone!!! You will need to examine your ongoing income/outgoings in more detail before making your decision to partially redeem your mortgage. far more information would be required on your future income/outgoings before appropriate...
  2. 4

    Minister Varadkar says current State pension is unsustainable...

    PS pensions would need to be amended to Defined Contribution for all new employees. This is not essentially off-topic as the approach to funding pensions from current funding effectively lumps all PS and State Pensions together to be paid from annual income. There are very few remaining private...
  3. 4

    Minister Varadkar says current State pension is unsustainable...

    Something I have noted over the last 3/4 years is the gradual rush of all politicians towards the left. The assumption that everyone is entitled to a certain standard of living with no necessity to seek work if unemployed or pay towards anything!! The Group Think now is that those of us who work...
  4. 4

    If you're deliberating on installing solar power panels, this may help you decide.

    Great to see a post on this subject. I have had a passing interest in solar power for a number of years but was advised to wait for the technology to both improve and come down in price before making any decision. OP's commentary does certainly make a strong case for the effectiveness of the...
  5. 4

    Mortgage Protection Cover

    Would broadly agree with this. Critical illness cover is generally very useful for those who are self-employed. Income protection has normally too many exclusions and in general is not worth the value of the associated premia!
  6. 4

    Mortgage Protection Cover

    Mortgage protection cover is a specific insurance product to clear your mortgage in the event of death of either party until the mortgage is cleared. I.e. Option 3. You should certainly look at the other options and obtain advice on what separate protection you need in accordance with your...
  7. 4

    Joint Account with fiancee and Gift Tax

    There appears to be no intention to gift funds on this transaction. Given that you will be using these funds to purchase another property it is highly unlikely that there will be any query from the Revenue. You mention your fiancé so it would appear that you intend getting married. If you use...
  8. 4

    Minister Varadkar says current State pension is unsustainable...

    There has also been a major change in working years since retirement at 65 was input as the norm. Given that 3rd level is now more the norm than the exception for most occupations the entry age to the workplace is nearing 24/25. When I started work it was 18! Taking into account also the...
  9. 4

    Minister Varadkar says current State pension is unsustainable...

    The biggest difficulty here is the number of pension schemes that are "opt in" rather than "opt out". I.e. Workers upon joining a firm are given the option of joining the pension plan. In such a scenario the vast majority of employees will put the issue on the long finger. They see the benefits...
  10. 4

    Loan to finish new house

    This type of loan would only be available from your mortgage provider and would be assessed in line with your capacity to pay an increased mortgage. Only other option is a personal loan which will be both expensive and unlikely to be granted for a term in excess of 5 years.
  11. 4

    Back to the Future - FTB incentives to be reintroduced by Gov

    I fully agree that a FTB Grant is unlikely to increase construction activity. However I would fully support a reduction in VAT/Construction levies as per BB's response. Sarenco has made the point that such an incentive will not lead to any reduction in property prices and will merely add to the...
  12. 4

    2nd mortgage no deposit, but €120k equity in my home

    Definitely the only option! main issue will be your ability to pay both mortgages on a stressed basis. You need to approach your bank on this as it is the only way of getting a decision. Formal application is required as no staff member can give you an answer until the facts are presented to the...
  13. 4

    Key Post Judgment mortgages on family homes have little value

    No surprise here. Having been through the whole "Well charging order" process on a number of occasions I have as yet never got through one to conclusion. The court system in respect of realization of properties secured by JM's or equitable deposits (largely gone now thank God) appear to be...
  14. 4

    Bank - Info passed to 3rd party

    Raspberry I would refer you back to my original response. There should be no ambiguity here. The manager has breached the trust of his client and this needs to be reported. This act was naive in the extreme and should not be countenanced. Elcato. There is absolutely no excuse for any bank...
  15. 4

    Judgement interest

    No. Once a judgment has been obtained the amount owning is the amount of the judgment plus accruing interest at the judgment rate. Forget the shares issue. This is now irrelevant as you owe a net 10k (not 16k). Write to the CU re the incorrect interest and advise them that they are only...
  16. 4

    Bank - Info passed to 3rd party

    I am approaching this from the view of a banker. What you are now proposing is to approach an illegitimate act on the basis of a legitimate information request. This manager has committed a serious breach of confidentiality and the only action that should now be taken is to report this breach to...
  17. 4

    Borrowing against future Lump Sum

    Response to your original query is no. Unfortunately I know of know legitimate financial institution that would consider lending against such a proposal in the current climate. While you don't want to consider family friends you might re-think this strategy as given your own certainty of funds...
  18. 4

    Company or partnership - what is the best for a group investment.

    Forming a company for a one-off investment or even a relatively low level of multiple investments would be far too expensive and involve so much red tape that it would not be worthwhile. A partnership is the better option. However as per the earlier response you should be fully aware of the...
  19. 4

    My observations regarding the Circuit Court / Registrar

    I would think this applies to some rather than all banks. In my view the majority of the main banks are generally professional in their approach to clients and re-possession is only used as a final option when all else has failed. However there are others who tend to largely ignore client...
Back
Top