Have savings & mortgage in same bank - savings give me same (after dirt) return as mortgage int rate, both trackers - bit of a long story how that arose. So basically I'm not losing by having savings and mortgage at the same time - in fact it gives me liquidity which feels nice at the mo! And before the deposit guarantee I felt it meant that, at worst, I'd owe them the net debt and not lose my deposit.
Not one of the guranteed or even maybe guaranteed Irish banks.
While the deposit is safe, not >200k, joint account, I heard that if the bank went wallop they would net my savings against my debt and the net debt would be owed to whoever bought the mortgage book.
Is this correct?
If so then I think I should move "rainy day" money, say €30k, to one of the guaranteed guys, even if the return is a bit lower (can always lob it back in if the dust settles again ...... this may be some time !!).
Not one of the guranteed or even maybe guaranteed Irish banks.
While the deposit is safe, not >200k, joint account, I heard that if the bank went wallop they would net my savings against my debt and the net debt would be owed to whoever bought the mortgage book.
Is this correct?
If so then I think I should move "rainy day" money, say €30k, to one of the guaranteed guys, even if the return is a bit lower (can always lob it back in if the dust settles again ...... this may be some time !!).