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Home equity release

  • 10-03-2014 8:44pm
    #1
    Yossarian heller
    Registered Users, Registered Users 2 Posts: 5 ✭


    Hi, 
    What options are there for home equity release?


Comments

  • #2
    Bank of Ireland: Alison
    Closed Accounts Posts: 1,060 ✭✭✭Bank of Ireland: Alison


    [font=Verdana, sans-serif]Hi Yossarian heller[/font]
    [font=Verdana, sans-serif] [/font]
    [font=Verdana, sans-serif]Thank you for contacting us here on Boards.[/font]
    [font=Verdana, sans-serif] [/font]
    [font=Verdana, sans-serif]As it is very much facilitated on a case to case basis and terms and conditions apply etc., it will be difficult to give you a general answer here. We would certainly recommend contacting one of our experts. Our Mortgage Advisors can be contacted on 0818 200 413. They will be happy to discuss the options available to you in relation to home equity release.[/font]
    [font=Verdana, sans-serif] [/font]
    [font=Verdana, sans-serif]Alternatively, you can contact the branch that your mortgage has been taken out with. A Mortgage Advisor within your branch will also be available to go through this in more detail with you.[/font]
    [font=Verdana, sans-serif] [/font]
    [font=Verdana, sans-serif]Contact details can be found here[/font]
    [font=Verdana, sans-serif] [/font]
    [font=Verdana, sans-serif]If we can help again, please do contact us here.[/font]
    [font=Verdana, sans-serif] [/font]
    [font=Verdana, sans-serif]Thanks[/font]

    [font=Verdana, sans-serif]Alison[/font]


  • #3
    restive
    Banned (with Prison Access) Posts: 1,066 ✭✭✭restive


    How exactly is equity release paid for on an existing residence / mortgage. Supposing I had an outstanding mortgage of €90,000 and I applied for an an additional €30,000 bringing the total mortgage back to €120,000. Would that mean an additional monthly payment on top of the exiting monthly payment or would it extend the life of the mortgage say from 15 to 20 years?


  • #4
    Bank of Ireland: Laura
    Closed Accounts Posts: 414 ✭✭Bank of Ireland: Laura


    Hi restive.

    Thanks for getting in touch.

    An equity release will not affect the current arrangements you hold with your existing mortgage account. Although this will be linked to your current mortgage, a separate monthly repayment will be taken each month. 
    You can find information on equity releases and the application process here. 

    We also have a Mortgage Repayment Calculator that may be of benefit to you which you can find on our website here. This will estimate the total cost of the equity release for you, if approved.

    We hope the above information is of benefit to you. If we can help you with anything else, please let us know.
    Laura


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