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Equity Release

  • 08-05-2019 3:47pm
    #1
    Lash_Alert
    Registered Users, Registered Users 2 Posts: 425 ✭✭


    Hi,

    Just finalising a large home improvement project. The project has been funded pretty much 50/50 cash and debt (personal loan). When the job is finished it was my intention to have the home revalued as we have added about 40 sq m to the property and expect this to add some value to the house. It is our intention to refinance out this personal loan by way of an equity release. 

    Given that our existing mortgage and the bulk of the personal loans are with BOI - how hard is this process and secondly, is it 80% LTV or 90%?

    Thanks in advance 


Comments

  • #2
    Bank of Ireland: John
    Closed Accounts Posts: 204 ✭✭Bank of Ireland: John


    Lash_Alert wrote: »
    Hi,

    Just finalising a large home improvement project. The project has been funded pretty much 50/50 cash and debt (personal loan). When the job is finished it was my intention to have the home revalued as we have added about 40 sq m to the property and expect this to add some value to the house. It is our intention to refinance out this personal loan by way of an equity release.

    Given that our existing mortgage and the bulk of the personal loans are with BOI - how hard is this process and secondly, is it 80% LTV or 90%?

    Thanks in advance


    Hi Lash_Alert,

    Thank you for taking the time to contact us today.

    I have attached a link to our 'Existing Customer' Mortgage information page here - it will provide you with information on Equity release and the process of applying for this. It also contains useful information on how you can apply to change the interest rate on your Mortgage that you may find useful.

    To discuss this further and any other queries you may have can you please call our Mortgage team on 01 6113333 and an advisor will be happy to help you.

    Many Thanks.

    John


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