just went sale agreed, quick questions...

morpheus said:
New question... a friend mentioned we may be able to ask for a time period such as 3 months wait, before we begin to repay the mortgage? is this a facility provided by most lenders?
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Ulster Bank allow you to take payment breaks once you have made 6 months payments.

ptsb, and possibly AIB, allow you to take immediate payment holidays IIRC.

Any of these options adds to the overall cost of the mortgage in the long run.
 
You mentioned EBS so presumably they are your mortgage provider? If so, they offer an 'easy steps' option for ftbs where for the first year your repayments are 85% of the total monthly payment i.e. if your repayments were €1500 a month, for the first year, you would only have to pay €1275 p.m. Obviously you have to make up the balance later on but I'm not sure whether this is done at the end of the term or by higher payments til the balance is paid. You should check with your broker/with EBS.
 
About the baby steps, I think I will throw it to my broker later tomorrow,thanks for informing me, i had noticed it on their website and was going to mention it.

Aside from that, is €30 per month for life insurance good or bad? its just the basic one, covers only on death. the broker said if we go with this policy which is thru a sister company of the brokers company, that they pay for our valuation on the house too.

so €360 per year, havent gotten a price if we pay it up front, would assume he quoted the 30 per month and that was including interest on a yearly sum.

havent gotten a house insurance quote yet. am looking at FBD
 
€30 per month for mortgage protection (I presume this is what you are referring to when you say 'basic'???) is ok, there will be a finance charge of around 8% I'd imagine (included).

But you can usually get this heavily discounted by certain brokers in year 1 if you pay upfront.

Have you asked the bank about covering the valuation?
 
From what i gather, i would normally pay for the valuer who the lender (EBS) have sent out, but if i take out life insurance through my mortgage brokers companies insurance brokerage, they are running a new deal whereby they pay the lenders valuer fee for me.
 
Some banks pay the valuation fee on behalf of the borrower-it's worth asking. Either way, compare the cost of the valuation with any potential discount on life assurance on year 1 you could get from another broker.
 
maxjam said:
Aside from that, is €30 per month for life insurance good or bad? its just the basic one, covers only on death. the broker said if we go with this policy which is thru a sister company of the brokers company, that they pay for our valuation on the house too.

so €360 per year, havent gotten a price if we pay it up front, would assume he quoted the 30 per month and that was including interest on a yearly sum.

havent gotten a house insurance quote yet. am looking at FBD
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We got our life cover for €21.05 per month ( payable monthly) which was standard cover for myself and my GF - both non smokers. That was through Irish Life
 
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