You’ll have your general day-to-day expenses, the hidden costs and everything else that comes with the process. And of course there’s also the occasional night out to keep your noggin screwed on – as well as having money there for the things you need when you finally cross the threshold of your new home.
The new EBS 2% Back in Cash offer gives you a great opportunity to get a lump sum when you need it the most. Here’s everything you need to know about getting 2% of your mortgage Back in Cash, and how it can help you.
What is the EBS 2% Back in Cash offer?
The EBS 2% Back in Cash mortgage offer is exactly what it says on the tin. No fuss at all and the bigger the mortgage, the more Back in Cash you’ll get. Simples.
Let’s use an example: Claire and Sean are first time buyers. They both worked hard to save the deposit they needed, but didn’t have the extra funds to give their first home the bit of TLC that would make it into a home.
The EBS 2% Back in Cash mortgage offer gives them the chance to get the essentials they need to make their first home their very own.
They applied for a mortgage of €250,000. Claire and Sean had all of their finances in order and prepared everything they needed for the meeting with their local mortgage advisor. So when they drew down their mortgage, they received €5,000 Back in Cash. Bob’s your uncle.
Want to know how much you could get Back in Cash? Here’s the average mortgage per county in Ireland and the amount you could get Back in Cash on an EBS mortgage, from the EBS DKM affordability report.
But am I eligible? Only if...
- You are a mortgage customer who is a first time buyer, a mover, or is switching a mortgage loan to us;
- The purpose of your mortgage loan is to purchase your principal private residence in Ireland or to switch the mortgage loan relating to your principal private residence in Ireland to us;
- You have a mortgage loan that draws down between 23rd of June 2016 and 30th of September 2017;
- We receive a fully completed copy of the EBS 2% Back in Cash application form from you and this has been accepted by us; and
- You have a valid SEPA Direct Debit set up on the current account used for the mortgage repayment.
- If you have a tracker mortgage with another mortgage provider, switching your mortgage to EBS means you will lose your existing tracker rate. We recommend you seek independent financial advice before deciding to switch your mortgage.
You will not be eligible if...
- You are an existing EBS mortgage customer who is availing of a top-up loan or a transfer of title mortgage loan; and/or
- You have already availed of the EBS 2% Back in Cash offer for a mortgage loan relating to the same property.
Terms and conditions
Hold your horses! Here’s a list of T&Cs that you need to know. The following terms and conditions apply to the EBS 2% Back in Cash offer:
- The amount we will pay to you is 2% of the amount of the mortgage loan that is drawn down.
- It will be paid into the current account used for the mortgage repayment within two months of your mortgage loan being drawn down and you must have a valid SEPA Direct Debit set up on this account.
- We may choose to extend the duration of the offer beyond the period 23rd of June 2016 to 30th September 2017.
- Self build mortgages will receive 2% of the amount drawn down at each stage of draw down. We will only pay you in relation to draw downs that happen within 18 months of the first drawdown. The first drawdown must occur during the term of this offer.
Now, what can I spend it on?
Anything you want!
Like Claire and Sean, you can fill your new home with the furniture you’ve always wanted, or use it to pay off some longstanding bills, buy a new car, a year supply of groceries, an entertainment system, a holiday – anything! It’s all up to you. Whatever floats your boat.
Want to know more about our 2% mortgage Back in Cash offer?
The EBS Back in Cash offer gives you 2% of the value of your mortgage Back in Cash, if you’re a first time buyer, mover, or switching your mortgage to EBS.
Lending criteria, terms and conditions will apply. EBS d.a.c. is an authorised agent and servicer of EBS Mortgage Finance (a whole-owned subsidiary of EBS d.a.c.).
EBS Mortgage Finance is regulated by the Central Bank of Ireland. EBS d.a.c. is regulated by the Central Bank of Ireland.