Equity release / Top Up Mortgage
If you’re planning some home improvements then a top-up mortgage could be the solution for you. Whether it’s a new kitchen, bathroom or extending to get a little more room our mortgage advisors are available to help you today.
How does it work?
The amount you can borrow is based on the equity or value in your home. The amount you can borrow starts from €25,000 up to 85% of the current market value of your property today, less the amount you owe on the property.
Competitive interest rates
Up to 35 year term available (subject to age of borrower(s))
Quick and easy to arrange
No registration fees
Borrow from €10,000 up to 80% of the value of your home
Your property today is worth €265,000
80% of the property worth is €212,000
You have €100,000 left on the mortgage
The equity release you could possibly borrow is €112,000. (That’s €212,000 – €100,000)
In order to avail of the maximum of 80% of the current market value of your property today, less the amount you owe on the property.
Warning: The cost of your monthly payments may increase, if you do not keep up your repayments, you may lose your home.
Warning: The entire amount you have borrowed will still be outstanding at the end of the interest-only period.
Warning: You may have to pay charges if you pay off a fixed-rate loan early
Warning: This new loan may take longer to pay off than your previous loans. This means you may pay more than if you paid over a shorter term.