mortgage stuff (1 Viewer)

[MDR]

I am not a solicitor.

Whhhhaaaatttt!!!!!! But how come you know so much about the Fall?

 

[HMD]

what seems to be the best interest rate at the moment?

does a tracker +0.75% sound like a good deal?

 

[dudley]

rent

 

[MDR]

what seems to be the best interest rate at the moment?

does a tracker +0.75% sound like a good deal?

All of the interest rates, expressed in APR (and therefore reflecting the actual cost, net of discounts) will be in the property pages over the next two days (thursday for Irish Times; Friday for Indo). It's usually laid out in a table so that you can compare easily.

I think I'm on a tracker that is 1.3% above the ECB rate, so ECB + .75% sounds like a good deal.

 

[nlgbbbblth]

ECB + 0.75% is probably best you'll get.

 

[MDR]

ECB + 0.75% is probably best you'll get.

Sounds a bit too good in fact.

HMD - is that just a discounted rate for the first year? You might want to check what the APR is, as some lenders offer very attractive discounts for the first year, after which the rate you pay could be a lot higher. Of course, you could always change lender after the first year.

 

[HMD]

Sounds a bit too good in fact.

HMD - is that just a discounted rate for the first year? You might want to check what the APR is, as some lenders offer very attractive discounts for the first year, after which the rate you pay could be a lot higher. Of course, you could always change lender after the first year.

i checked and it's for the life of the mortgage.

 

[muffin]

i dont have a mortgage and wont for another few years but everyone i work with in the bank who has one is changing their repayments to weekly rather than monthly because although you wont save money it can knock around 7 years off yr repayments because yr paying interest on a decreasing balance..its probably worth looking into for all you lucky mortgage people

 

[mr pharmacist!!!!1]

that was a great read.

 

[minka]

well, after all that fun and excitement (house-hunting! bidding wars! bank shite! delays! more delays!), we are apparently wrapping up the whole house-buying thing tomorrow. though at this rate i won't believe it until i am actually holding the keys in my hand. and have possibly opened the door with them. and the house hasn't fallen down.

next up: decorating!

 

[HMD]

well, after all that fun and excitement (house-hunting! bidding wars! bank shite! delays! more delays!), we are apparently wrapping up the whole house-buying thing tomorrow. though at this rate i won't believe it until i am actually holding the keys in my hand. and have possibly opened the door with them. and the house hasn't fallen down.

next up: decorating!

congratulations, the waiting is a pain in the arse.

where did you buy a house?

 

[minka]

congratulations, the waiting is a pain in the arse.

where did you buy a house?

thanks! so...much...waiting. it's in marino, near fairview park.

 

[MDR]

hurrah! congrats!

 

[nlgbbbblth]

nice one, Minka. Glad you got sorted out.

 

[mr pharmacist!!!!1]

thanks! so...much...waiting. it's in marino, near fairview park.

deadly, live just down the road.
ill be round later with a basket of fruit.

 

[MDR]

Marino is lovely. Easy to get lost, but lots of nice trees and parks, and close to the city centre.

 

[Mitchum]

"Marino is the Paris of the northdside"
Tom Humphries.

 

[jack nance hair]

i dont have a mortgage and wont for another few years but everyone i work with in the bank who has one is changing their repayments to weekly rather than monthly because although you wont save money it can knock around 7 years off yr repayments because yr paying interest on a decreasing balance..its probably worth looking into for all you lucky mortgage people

This isn't strictly true - when people move to weekly or bi-weekly payments, the repayment amount is usually a quarter or a half of the monthly repayment amount. 52 weekly payments of a quarter of what you would be paying monthly adds up to the equivalent of 13 monthly payments a year. Which will knock years off the mortgage in the long run, but really just because you're paying more into it rather than any other factor. You'll probably find that increasing the monthly payment by a twelfth will have more or less the same effect.

(I'm not 100% sure on this, but from plugging figures into http://www.jeacle.ie/mortgage/ this seems to be the case)

 

[mr pharmacist!!!!1]

whats the average amount for a deposit on an apartment/gaff these days?
(i can dream, yeah?)

 

[nlgbbbblth]

whats the average amount for a deposit on an apartment/gaff these days?
(i can dream, yeah?)

around 10%, so anything from €25,000 upwards I'd say.

unless you want to live in the sticks or here