eg. Do I need to get a valuation done?
Do I need to involve a solicitor?
What banks to approach / avoid. What are the costs involved. problems? Risks?
Currently my mortgage is approx. €116K - House value may be €150-€160k. Remaining term is 172 months. PTSB Variable rate of 5.19%
In a similar note.
We applied to KBC for a switch but they knocked us back due to taking a 3 month repayment holiday in 2009 whilst I was in between jobs. This is despite us making a €6k lump sum repayment when I found work a month after the repayment holiday. This illustrates how fussy institutions are (no big surprise there).
Almost a year on, I reckon we're still just under 80% LTV and that the repayment holiday will have dropped off of our credit status (I believe financial institutions hold 24 months of repayment history, sort of X's and O's.) We'd now have a clean slate.
Any advice on who could get us away from PTSB now ? I am considering moving all accounts (except mortgage of course) to BOI and at some point in the future applying for a switch with them.
Hi Fiskar,
As Brendan suggested, I reckon there would have been no blemish on our credit status as the repayment holiday was pre-approved by PTSB. However as part of the switch application I submitted two years mortgage statements to KBC and they would have seen the 3 month repayment holiday clearly on the statement. Hence the knock back.
Swyper,
I rang PTSB and aked to be moved to a >80%LTV rate. Told it was only for new customers.
I will take your advice and call in to a PTSB branch.
Switching could be a problem. Income is not great. Been employed again for 1 year after a 2 year period of unemployment. Contract is not permanent. Paid the mortgage all through the period of unemployment except for 3 months where we went interest only.
I don't think we are that attractive to another bank!
I will take your advice and call in to a PTSB branch.
Switching could be a problem. Income is not great. Been employed again for 1 year after a 2 year period of unemployment. Contract is not permanent. Paid the mortgage all through the period of unemployment except for 3 months where we went interest only.
I don't think we are that attractive to another bank!
I will take your advice and call in to a PTSB branch.
Switching could be a problem. Income is not great. Been employed again for 1 year after a 2 year period of unemployment. Contract is not permanent. Paid the mortgage all through the period of unemployment except for 3 months where we went interest only.
I don't think we are that attractive to another bank!
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