You might get a deal of maybe 10k but no way will they do a deal of 45k, given the current off that they have made. You are looking for nearly a 40% write off i.e. 45k off of 115k. Also the money 70-80k will pay the mortgage for a long time and would give someone alot of time to repay. Look at all the options - working for less in another industry and also look at it as a 45k mortgage over 9 years if you did pay off about 450 euros per month. You can always try and see what they say.
Regards
Mike
ninetysix - if she repaid the full amount today she wouldn't be able to avail of the current PTSB deal as the small print gets them the money back if you repay in full within 6mths. Also you can only get the deal for up to 50% of the balance so in her case she could only get the discount on €57,500 and only for full €5000 multiples so repaying €55,000 would knock €60,500 off. So she could only get a max discount of €5,500, and only if she doesn't repay the rest for another 6mths.
sunny - where did you hear that? I received the original offer with all the terms and conditions about max 50% and no full repayment within 6 months. They still have these terms on their website. It would be great if they've changed it as we're about to put our house on the market and would love a 10% discount.
Did you get a letter about it, or where can I get that in writing?
OP
This is the perfect case where you should take advantage of the PTSB offer.
It meets most of the criteria for making it good value.
There is only 9 years left on the mortgage.
The rate is not particularly cheap.
Go for it. I very much doubt that they will offer a better deal, but you can ask.
After paying 80k+ 8k credit off a €115k mortgage, sh e will be left owing only €27k, her monthly repayments will be only €300 per month. There will be a very low loan to value ratio, so the bank's security is huge.
Brendan
sunny - where did you hear that? I received the original offer with all the terms and conditions about max 50% and no full repayment within 6 months. They still have these terms on their website. It would be great if they've changed it as we're about to put our house on the market and would love a 10% discount.
Did you get a letter about it, or where can I get that in writing?
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