Does the Central Bank not have the power to stop this unnecessary expense being foisted on purchasers and their families?
Hi Brendan, I hope you are doing well? May I enquire why you don't recommend PTSB for a mortgage. We are a self build, gifted site, self employed long standing business. PTSB seem to be the only one who will give us the amount we need. What would you advise? ThanksI know nothing about this, but why on earth are you getting a mortgage from Ulster Bank?
Your mortgage will be sold to permanent tsb and you will be stuck on high rates and be forced to switch which is a lot of trouble and expense.
If you want to pay high rates, go straight to ptsb and, at least, get cash back.
Brendan
Permanent TSB are not popular on this forum because their good rates are only available to new customers, or they offer new customers high rate and a large amount of cashback. But, in either case, at the end of the fixed rate you will only be eligible for their high rates. You may say that you will just switch to another lender at that time but most people don't because they forget or they are too busy or their financial situation has deteriorated and another lender will not take them.Hi Brendan, I hope you are doing well? May I enquire why you don't recommend PTSB for a mortgage. We are a self build, gifted site, self employed long standing business. PTSB seem to be the only one who will give us the amount we need. What would you advise? Thanks
Asking for a gift letter in the first place is obtrusive enough although I can (just about) accept there's a possible good reason for it. Insisting on independent legal advice is ridiculous - particularly if the donor signs a declaration that they've been advised to do so and have declined. Does the Central Bank not have the power to stop this unnecessary expense being foisted on purchasers and their families?
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