My last post was in reply to ONQ.
I relation to your comment about mortage protection life assurance Clubman, i figured going through the bank would be quickest but maybe I'm incorrect, or maybe 2 months is plenty of time to sort this part out.
In relation to the €6.2K I used a MIR calculator online.
The MIR will disappear completely after december 2017.
Based on €220,000 mortgage over 30 years at 3.85% I calculated that I would get €10,700 MIR over 6 years (ignoring 1 payment which I would have made in 2011 and would also get MIR on). If I didnt purchase for a further 12 months and the price and interest rate remained the same, I would get MIR of €900 for 5 years or €4500 in total. €10,700-€4500= €6,200.
Maybe a better comparision would be if I bought in Jan 2012. If I did I would get another full year of MIR worth €900 so the difference would be reduced to €5,300.
Please feel free to point out any flaws in my logic.