Brilliant news is just...BRILLIANT!!!

anniehoo

Im ecstatic!!!!Just got off the phone from my bank there enquiring about my new mortgage rate coming up once my fixed rate of 5.45(!!!!!!!) came to an end in Oct. Apparently there was a tracker rate built into it so from the end of hte year ill be on roughly 2.25%....saving nearly €400/mth!!!UN-FECKING-BELIEVEABLE im so happy.

This year has been soooo tight moneywise...now...FINALLY...some breathing space.

If someone said id be this excited about mortgage rates 3 years ago id have laughed in their faces. IM OVER THE MOON!!!!:D:D Anyone else got any good news to share??

Biggins

Nice one. Congrads!

super_furry

Got a lend of a score?

Sykk

Grats, any chance of a sub? :pac:

Edit: Damn you Super furry!

Winty

I am happy for you

Notorious97

Finally somebody benefitting from the banks!! Dont have a mortgage yet but always good to see people get some form of benefit from them

Kurtosis

Do you know what a tracker mortgage is though? Because I don't...

Congratulations though!

starlit

Great news!

starbelgrade

Good stuff!

Do you mind me asking which bank it was with?

Rabidlamb

Good for you, delighted to hear it.
Never ever let it go.
Now sit back & watch them continue to gouge the variable customers, it's like a blood sport.

Travel is good

Well that just made my day! Glad somebody is getting good news, and from the banks too! They must be kicking themselves. The rest of us are getting great pleasure from this, that you are saving money from the banks.

kfallon

Good stuff!

I'm leaving work now to go lie* on my couch for the evening.....beat that for good news


*I may put my hands down me shorts at some point too....if the mood grabs me!!!

Savage stuff! That's just like gettin a nice payrise..

Ruu_Old

I am based in the US. I lowered mine from 6.625% (25 years) to 4.875% (20 years) a few months ago. I am getting some extra hours in work, a bonus since the city government is cutting many services.

dashboard_hula

Well Done - I know how much even a little bit of financial relief can mean, I hope you surf the good mood for as long as you can

anniehoo

starbelgrade wrote: »

Good stuff!

Do you mind me asking which bank it was with?

KBC used to be called IIB. They were only one of 3 banks whod give me a mortgage back in 07!

I had no idea about the clause in my mortgage agreement. My broker couldnt believe it when he seen it and the girl in the bank said she was delighted to tell me the news. Such a relief...ive spent the last year and a bit constantly worrying about bills and money.

billymitchell

So the big question is, what are you going to blow the "free" money on???

Fratton Fred

so the tax payer will now have to pay an extra €400 a month into teh bnk to prop it up...thanks.

seriously, that's good news. Always nice to get one over the banks.

henryporter

Whats really good is that the bank didn't try to screw you by pretending the tracker rate was gone forever after the fixed term expired. Kudos to them for a change.

fkiely

Fratton Fred wrote: »

so the tax payer will now have to pay an extra €400 a month into teh bnk to prop it up...thanks.

seriously, that's good news. Always nice to get one over the banks.

KBC aren't covered by the government guarantee.

anniehoo

billymitchell wrote: »

So the big question is, what are you going to blow the "free" money on???

Extremely sad and grown up stuff...like furniture.:o I havent been able to afford to buy much over the last while. Im so sad!!!!!

In fairness to KBC the girl on the phone was soo nice and was equally as delighted to be giving me the news as she hears more bad news than good news.

Fratton Fred

fkiely wrote: »

KBC aren't covered by the government guarantee.

Pleae don't let facts get in the way of me expressing my dislike for the banks.;)

r3nu4l

That's great news alright!

anniehoo wrote: »

Extremely sad and grown up stuff...like furniture.:o I havent been able to afford to buy much over the last while. Im so sad!!!!!

Yeah I know how it feels, I'm the same these days. Ironically, as a student I would have thought nothing of going out and buying something like an iPod Touch (or the equivalent back in the 90s) but these days I wouldn't dream of it, there's fence paint and lampshades to be bought. Couldn't justify an extravagance like that

anniehoo

r3nu4l wrote: »

these days I wouldn't dream of it, there's fence paint and lampshades to be bought. Couldn't justify an extravagance like that

LOL i know...its scary how sad ive become since i bought the place. Im excited over finally getting shelves in the bathroom for god sake

billymitchell

anniehoo wrote: »

Extremely sad and grown up stuff...like furniture.:o I havent been able to afford to buy much over the last while. Im so sad!!!!!

In fairness to KBC the girl on the phone was soo nice and was equally as delighted to be giving me the news as she hears more bad news than good news.

Not going to do a George Best on it then?? For shame
Congrats and happy spending, i'd be over the moon if I got that news too

starbelgrade

henryporter wrote: »

Whats really good is that the bank didn't try to screw you by pretending the tracker rate was gone forever after the fixed term expired. .

Like Permanent TSB did recently - 300 odd customers, who had initially opted for a fixed-rate loan, should have been offered the option of switching to a tracker mortgage when the fixed-rate matured.

However TSB never made the offer now have to re-emburse the customers to the tune of €1.5 million in total.

jd007

In before "I don't know what a tracker mortgage is"

hidinginthebush

Fair play OP, happy for you!

In more selfish news I passed the 100 page mark in my thesis today :cool:

Not long left at all!

fkiely

fkiely wrote: »

KBC aren't covered by the government guarantee.

Even it were, how would affect the tax payer?

Terry

anniehoo wrote: »

Im ecstatic!!!!Just got off the phone from my bank there enquiring about my new mortgage rate coming up once my fixed rate of 5.45(!!!!!!!) came to an end in Oct. Apparently there was a tracker rate built into it so from the end of hte year ill be on roughly 2.25%....saving nearly €400/mth!!!UN-FECKING-BELIEVEABLE im so happy.

This year has been soooo tight moneywise...now...FINALLY...some breathing space.

If someone said id be this excited about mortgage rates 3 years ago id have laughed in their faces. IM OVER THE MOON!!!!:D:D Anyone else got any good news to share??

Yes. I own my house, so I don't have to pay a mortgage.












Jaysus, I'm an awful prick at times.

Einstein

Happy days!

Nice couple yoyo a month

CrazyRabbit

anniehoo wrote: »

!:D:D Anyone else got any good news to share??

I got new cookies, and they are delicious.

paddyman

Congrats!!, great news.

I'm on a tracker mortage myself now after coming off a fixed about 2 years ago but i had to battle to get mine.

I knew i had a tracker option in the contract but near when my fixed was over my bank sent me out a letter with all these "great" options( NONE of which was my tracker option) and then had the cheek to state that if i dont get in touch with them by xx date that they will automatically put me on this 4.x% variable:eek:

It took many phone calls ETC before i got it in writing from them that i will be put onto the tracker mortgage.

Then as a cheery ontop shortly afterwards when they upped their own bank rates they tried up mine!!. W**kers:mad:

Advise for anyone reading and advise your family/friends is to check your contracts, get a copy from your solicitor if your unsure. Their could be many more people entitled to be on trackers now but their banks "forgot" to tell them, fair play to your for doing it.

snubbleste

You do realise that interest rates can only go up OP and that your tracker will track them.

Tucking Fypo

Congrats, must be a huge relief.

anniehoo

snubbleste wrote: »

You do realise that interest rates can only go up OP and that your tracker will track them.

Yessss....of course! But im happy knowing ill never have to pay the amount ive been paying the last 3 yrs again. I can fix again if the ECB goes nuts...

Thoie

Dull, boring bit of advice, but consider paying some of that €400 into either a savings account, or off the mortgage each month. You can still buy paint and furniture with the rest

Putting it into savings gives you a bit of a cushion (or possibly an entire sofa!) in the long run, paying a bit extra off the mortgage each month reduces the term of the mortgage, and means that when rates go up you'll have less interest to pay.

fiona12

Fratton Fred wrote: »

so the tax payer will now have to pay an extra €400 a month into teh bnk to prop it up...thanks.

:rolleyes: Don't you see, if the taxpayer didn't pay for this, it could always go towards some politician's expenses :mad:... so might as well be of use to someone deserving

OP congrats! I am green with envy!