The ask Bandage about mortgages thread

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Please direct your mortgage and related questions to @bandage here.

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@Bandage Can you lend me around 100k for a deposit for a house, please. I’ll let you in on the ground floor on my new business as collateral. I’ll also be backing all of DB’s tips to get it back early.

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Would you not just borrow 50K and put that on one of DB’s tips. Then use the winnings for the deposit and give the bank back their 50k with the change.

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@Bandage, can I borrow 100k to put on horses in order to pay you back and put the winnings into a deposit. I’ll split it into 4 25k bets to make sure I’m not mugged off.

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@Bandage, do you know Mortgage Freeman?

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Guys, I’ll only answer a selection of these queries as I’d prefer if you routed them through Facebook.

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How’s the new job @Mouse?

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@Bandage , I want a tracker mortgage. PM me the approval. Around 300k.

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Is LinkedIn an acceptable forum or is it purely FB?

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Fine, bro… Three weeks in a class first, I’m in week 2. There’s even an exam at the end… Very serious business.

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Three whole weeks? You training to be a garda or something?

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Something along those lines alright

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@Bandage whats your take on todays “refinements” to Central Bank Borrowing Guidelines?

Is the relaxation specific to first time buyers or were there refinements in other areas?

  • refinements is a better word than row back
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Refinement regarding the 80% -> 90% threshold above €220k IS specific to first time buyers.

There’s other refinements too but don’t worry about them.

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Who would you say are the best crowd to get a mortgage off at the moment? Mate of mine got a mortgage with KBC lately he says they were the cheapest by a fair margin

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KBC are up there, but they don’t provide mortgages for new builds I believe.

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The tip of the wedge is in the door. There’s votes in this. Expect a sledge to the back of the wedge in due course, and fuck the consequences.

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I don’t have a clue, pal. Sorry I can’t be of more help.

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KBC and BOI are the cheapest by far. They are pushing everyone towards fixed rate mortgages now, so fixed rates are significantly cheaper than variable which shouldn’t really be the case, unless there was an expectation of a fall in interest rates which is most unlikely.
People on variable rates are getting screwed and should be looking to fix, even if only for a year.

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If ever proof was needed that our central bank is not politically independent this is it. It is not quite the moment we assured ourselves of a second property bubble but it’s definitely one of them. Still I suppose we should get a few good years out of it