Mortgage choice

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munsterman25

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Having shpped around a bit im left with a few choices. Most will give me what I want so thats not an issue in choosing.

Permanent tsB will give me a tracker of 3.10% and ulster bank the same if i'm a u first account holder. The aib tracker is slighty more APR. The slight problem is that ulster bank and TSB say they will only give me 70% of the site cost (self build). I am after 90% ideally. After chatting to them just once i am pretty confident I can persuade them to give me the 90% but am not sure. Ulster bank have went to 80% this morning.
Has anyone experience of this?????? Also anyone recommend AIB, ulster or PTSB over the other
 
watch out for Ulsters U-first tracker. The U first account cost you money thus making it more expensive than PTSB.
 
For mortgage of more than 60% of house value

UFirst apr rate is 3.1%, nominal interest rate 3.05%
The margin for the loan is ECB rate plus 1.05%.

I used one of the mortgage calculators and the savings gained is greater than the €9 month UFirst charge.
 
Currently looking around for mortgages also.

NIB have a tracker rate of 2.99% for LTV of 60-80%, guaranteed to track the ECB rate by 0.99%. This doesn't appear on their website or is not in the Best Buy list here but is freely available and quoted in their branches. I need two stage payments on house and have been offered interest only payments on first stage payment with balance transferred to total at end.

In terms of "catches" they will give 90% of LTV for mortgage of <€250K, 85% over €250K and below €625K. You also have to organise and pay for your own valuation but can use any qualified valuer with indemnity insurance (don't have to use NIB panel). You can also make lump sum repayments at any time without penalty.

Seems to be the best around for our situation but would welcome opinions!
 
Munsterman
Our situation is that we are buying the house directly from a builder who also owned the site, we didn't take it through from the planning stages like yourself and require a mortgage on the site. Borrowing under 80% of the house cost and builder wants half of the money in a few weeks and rest on completion, which is July but more likely to be August. The house is currently at 2nd fix electrics.
The NIB tracker therefore appears to be our best option. NIB will allow us to take the first payment as interest only and then lump the capital onto the "main" mortgage at the end.
Am currently a BOI customer and had my last mortgage with EBS. Have never went with or dealt with NIB before but so far they have been fine. My friend has had their free banking account for 10 years and has had no issues. The only thing with it is that there is no overdraft facility, the banking is only free if you are always going to be in credit. As far as I am aware you don't pay any fees for the setting up of Direct Debits or Standing Orders which is something that a lot of Ufirst people on AAM have previously complained about.
 
Wouldnt you be better off not taking the interest inly option and paying as normal as soon as you draw down any of the money, by paying interest surely your just leghtening the term. Then again the time between the two draw downs is so short wont make a huge difference
 
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