NIB mortgage from ECB + .5%

G

Guest111

Guest
I was told the valuer had to be a member of the IAVI. NIB do not use panels. You could try those auctioneers fellas from the Prime Time programme...reckon they'd put their name to anything!
 

Carmel

Frequent Poster
Messages
252
Hi
I am in the middle of the process with NIB at the moment. Got the valuation done and have an appointment with a solicitor (their choice, they are paying) next week to sign the loan offer.

We used Independent Valuations ltd, 17 Upper Baggot St. for our valuation. They were recommended by NIB and we were very happy with their service and the valuation they gave (about 30K more than we thought it would be). Website http://www.valuations.ie

Hope this helps.

C
 

DaveD

Frequent Poster
Messages
290
Hi
We used Independent Valuations ltd, 17 Upper Baggot St. for our valuation. They were recommended by NIB and we were very happy with their service and the valuation they gave (about 30K more than we thought it would be). Website http://www.valuations.ie

Hope this helps.

C
Don't suppose you remember what they charged for the valuation? How long did it take to get done? Mind you with the speed NIB are replying to my request for documentation I'm in no hurry, waiting since mid December for written offer.

DaveD
 

Carmel

Frequent Poster
Messages
252
It was 130e and they did it within a week of calling them. They came to vist the house so someone had to be there to let them in. Didn't take long though.
C
 
R

r0chf0rt

Guest
Hi
Can someone who has gone through the process of switching to nib confirm whether they were liable for land registry fees if they used the nib solicitors? The guy in nib said no but I have noticed some people mentioning it in other posts.
thanks
Paul
 

potnoodler

Frequent Poster
Messages
309
I try to approach my bank yesterday (FirstActive), i got a reply saying they will call me back and never heard from them. Will definitively switch to NIB for sure.

Got the same response from FA myself, asked at reception to speak to an advisor cos I wanted to check out my options before switching to NIB (after not receiving a promised return phone call for an apointment), receptionist spoke to advisor on the phone and then said to me it was best to write a letter to head office, as there's nothing they can offer onsite. Total joke as no commission involved I suspect.
So long FA.
 

MandaC

Frequent Poster
Messages
1,784
I have been trying for the past two weeks to have my mortgage drawn down with NIB and they are proving most unprofessional.

My Solicitor requested the cheque two weeks ago and it took a week for them to come back and say they were waiting for life policy and house insurance(they already had house insurance documents.)

Last Monday, I drove over to Blanchardstown and dropped in the life policy. I had a call from my mortgage advisor in Blanchardstoen on Wednesday to say all was in order and cheque would be drawn down. My Solicitor was trying their head office in Belfast on Thursday and Friday to ascertain whereabouts of the cheque. This morning they came back again and said cheque had not been released as there was no "assignment of life policy" signed, which they said had sent in the post to me.

I had never received this document, or I would have sent it back to them when I dropped off the policy documentation last week. The mortgage advisor should not have told me all was in order, when it wasnt and wasted another week.

Calls are not returned from their head office to my Solicitor and it takes about a week to get a response by e-mail. In the meantime, I have an irate builder chasing me and am getting stressed out over it.

I have to say I am not happy with the service to date.
 

Moneypit

Frequent Poster
Messages
166
I have to agree with you MandaC. We drew down our NIB loan cheque in January but it was really touch and go when it came to closing the sale, all down to them just being inefficient and uncommunicative. We got there in the end but it wasn't for the want of me trying and emailing our mortgage advisor at least twice a day on it. Even with all that, it was only last week when they finally took the first mortgage payment out again despite me emailing several times asking them to take the money! They then sent our legal fees reimbursement cheque to our old address, again I had emailed them to make sure they changed our address on their records, it's like I'm not being listened to properly, emails are being half read. I do miss PTSB for their efficiency and I like the way you can ring a number and get through to someone re your mortgage query straight away rather than having to deal with the one person only in NIB but at the end of the day we are saving a lot with NIB so money talks. One bonus, we got by the way, was a contribution towards the valuation fee of 100 euros which I wasn't expecting because we hadn't opened any other a/c bar the mandatory easy a/c. Probably a mistake on their part. In all seriousness though, they really need to review their systems and come up with some better way of providing an efficient service to their customers.
 

serotoninsid

Frequent Poster
Messages
1,760
I'm just sending back a bunch of NIB forms that required my sig for this. On the 'Customer Agreement' Form, it states;

When we asked you "Where is the money coming from to operate the account on an ongoing basis?" you confirmed - "From Salary".

If I sign the above, does it imply that I have to have my salary paid directly into the NIB account? (as this was not my intention)
 

Sarsfield

Frequent Poster
Messages
200
I have to agree with MandaC & Moneypit. It's a job in itself keeping on at NIB to find out what's going on. Don't expect them to contact you! I was told I'd completed all the necessary documentation but when I called to check progress (finally speaking to my 'advisor' after leaving messages for a week!) I eventually found there were 2 items outstanding - one I'd never been told about, the other I'd been told I didn't need!

Maybe it's just because they're so busy with mortgage switches, but I get the impression a number of their staff are not knowledgable enough about the switching process.
 

MandaC

Frequent Poster
Messages
1,784
Just a further update in respect of NIB. They were onto me last week about the new account details. I signed paperwork and sent it back in the post with a cover letter telling them I had changed address and had not been at the previous address since before Christmas. I also told the contact on the phone when she rang me to make sure that all correspondence is issued to my new address.

Despite this, this morning I receive in the post (forwarded from my old address), a cheque book in one envelope and a pin number for my laser card in another envelope. No sign of the laser card, god knows where that has made its way to.
I better follow up to ensure that the reimbursement of legal fees is not sent to the address I am gone from for over three months.

My Solicitor is giving out hell about them, says she has never come across such a shower of idiots. No instructions are listened to or acted upon at all.
 

Phaedrus

Registered User
Messages
39
Hi Again,

I posted on this thread before Xmas.

I still haven't moved on this, but called NIB, AIB & PTSB (my current mortgage lender) today.

My mortgage and the extra loan for my extension are both with PTSB. The extension loan is called a One Plan loan, aparrently, and is directly linked to the house and the main mortgage.

I reckon that with some crafty talking, NIB would have to take them both as effectively one mortgage and accept me as a candidate for the LTV loan.

As I calculate it all at this time, I'll save €118pm by switching. The NIB phone operator (in Belfast, which is odd since I called my local branch in Dublin) said that she'd be getting the mortgage officer from my local branch to call me, but couldn't guarantee that'd be today. So I await their call.

Here's a question regarding NIB (or AIB or whoever) not taking into account loans other than the main residence mortgage for their LTV product:

If one were to consolidate all their loans (mortgage, car, holiday, credit cards, etc) into one mortgage with their current lender, could they then subsequently switch that mortgage to an LTV mortgage, ending up better off all round?

I'd guess there's something that would scupper that idea, but I had to ask.

Thanks,

Mark
 

serotoninsid

Frequent Poster
Messages
1,760
The NIB phone operator (in Belfast, which is odd since I called my local branch in Dublin) said that she'd be getting the mortgage officer from my local branch to call me, but couldn't guarantee that'd be today. So I await their call.
Their call centre is in Belfast and they route all calls there. I wouldnt be waiting by the phone. Customer service isn't part of this whole deal. If theres money to be saved as there certainly is in your case, your going to have to drive this yourself. Call into the local branch and organise the appointment. I've been trying to get this all sorted out since last November.
 
K

KalEl

Guest
I reckon that with some crafty talking, NIB would have to take them both as effectively one mortgage and accept me as a candidate for the LTV loan.Here's a question regarding NIB (or AIB or whoever) not taking into account loans other than the main residence mortgage for their LTV product:If one were to consolidate all their loans (mortgage, car, holiday, credit cards, etc) into one mortgage with their current lender, could they then subsequently switch that mortgage to an LTV mortgage, ending up better off all round?
I'd guess there's something that would scupper that idea, but I had to ask.

Thanks,

Mark
I've recently switched to the NIB LTV product and can recommend it.
I don't see any reason why you couldn't consolidate your loans with another provider and then switch to NIB.
However you should really match loan terms to the length of life of the asset...even though it's widespread sticking cars/holidays/clothes on your mortgage isn't wise.
 

Sarsfield

Frequent Poster
Messages
200
Well I finally got confirmation of the drawdown of the NIB loan! I only started the process in early December!!

One question: The amount I borrowed from NIB is now more than the outstanding balance on the old loan (due to the continuing payments on the BOI mortgage since December). How & when can I expect this money back?
 

ClubMan

Frequent Poster
Messages
43,872
One question: The amount I borrowed from NIB is now more than the outstanding balance on the old loan (due to the continuing payments on the BOI mortgage since December). How & when can I expect this money back?
Presumably when you solicitor gets the cheque and uses it to clear the old loan any excess will be returned to you? At that point it might make sense to put it off the new loan as an accelerated capital repayment unless you need it for some other purpose?
 

DaveD

Frequent Poster
Messages
290
I have to say I couldn't be less impressed with customer service from NIB. I started the switch process last November, took a month to get an appointment, they never sent out the mortgage documentation for me to complete until I asked 3 times. My "advisor" is NEVER available on the phone, never returns messages and only eventually replies to emails.

I was moving from AIB after they refused to match NIB but when I told them the move was imminent they offered the new business 1 year discounted rate of ECB + 0.45%, then on to their current lowest (0.1% higher than NIB I think). AIB even refunded the €120 charge I incurred to get the property valuation for NIB.

All the NIB documentation is sitting in my office on a shelf for over a month and I think I will let it stay there. NIB have never initiated contact with me, if this if their customer service when they're trying to sell me a mortgage then I'd hate to see it if I ever have a problem afterwards.
 

roadrunner

Frequent Poster
Messages
265
I am applying for mortgage with NIB - when I asked the timeframe for the process was told should be wrapped up in a month. Is this realistic?
I hope to start the build then so it beeter be right?

Also I was told that until build was complete I would be put on Variable rate of 4.85% - then I could apply for the LTV when build complete.
(should qualify for .5% above ECB rate)
Meeting them next week - what questions should I be asking?

My own bank are keen but can only offer 4.8% APR -
 

MandaC

Frequent Poster
Messages
1,784
I drew down last week after very much hassle, if I had known how much hassle I would get from NIB, I dont think I would have bothered, even though I am on the best ltv rate.

The mortgage advisors are terrible, I echo the above, it is impossible to get calls returned, or letters or faxes acknowledged.

I eventually got two really good guys on side from the call centre, and they sorted it for me.
 
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