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RESIDENTIAL • COMMERCIAL
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Attractive rates with longer
repayment terms.
Irish Nationwide now provide the widest range of
lending services of any building society in the country.
These include:
Home Purchase
The Society will advance up to 90% of the valuation of
the house. Maximum term 20 years.
Home Improvement
The Society provides for new and existing borrowers
up to 90% of the current market value of the
prop~rty
including, where applicable, the amount outstandmg
in relation to any prior Mortgage and any other
domestic borrowings. Maximum term 15 years.
Residenyal Investment Property
The Society will advance up to 70% ofthe vall:le for the
purchase of Residential Investment PropertIes for
single or multi-unit lettings. This facility is also
available to owners who wish to refinance such
properties at more attractive interest rates. Maximum
term 15 years.
Residential/Commercial Property
The Society will advance up to 65% ofthe valuation for
the purchase of Commercial Properties (offices, shops
etc.) which incorporate some residential
accommodation. This facility is also available to current
owners who wish to refinance their borrowings at more
attractive interest rates. Maximum term 15 years.
Commercial Property
Where the property is used exclusively for Commercial
purposes and has no residential content, then the
Society will advance up to 60% of the valuation for the
purchase of such properties. This facility will also be
available to present owners who wish to refinance their
borrowings at more attractive interest rates.
Maximum term 15 years.
Finance for Other Purposes
Where an applicant owns his own property or has an
existing Mortgage on it, the Society will: advance
funds for family education or other domestic
or general purposes. The !:,um advanced can
include, where applicable, an additional sum
to cover any prior Mortgage on the property
concerned. Maximum term 15 years.
METHODS OF REPAYMENT
The Irish Nationwide offers a wide variety of
repayment methods which are tailored to suit the
needs of every individual applicant. These are:
Capital and Interest
This is the traditional method of repaying mortgages
where the borrower's monthly repayment consists
partly of capital and partly of interest.
Endowment Mortgages
Under this method of repayment the borrower only
pays interest to the Society. Payment of the capital
sum is catered for by an Endowment Insurance Policy
which is scheduled to terminate at the same time as
the mortgage. In this way the borrower maximises the
tax advantages and may also have the added benefit of
a tax free bonus at maturity.
Pension Linked Mortgages
This facility is aimed at the self employed or those in
non-pensionable employment.
As
with Endowment
Mortgages the payment to the Society consists ofinterest
only. Payment of the capital sum is catered for by the
tax free cash element of an accumulated pension fund.
Unit Linked Mortgages
As with Endowment and Pension Linked Mortgages
interest only is paid to the Society. The borrower also
enters a Unit Linked Savings Contract with an
insurance company with the expectation that the
accumulated value of this fund will be adequate to
repay the capital sum.
Irish Nationwide also provide the most
comprehensive range of associated
insurance services including:
• Householders Comprehensive Building, Contents
and All Risks Insurance Cover
• Mortgage Protection Assurance
• Comprehensive Traders Combined Policies
• A unique Repayment Protection Plan
And the payment of all insurance premiums is
spread over 12 months.
For a better alternative
source of finance contact
Irish Nationwide today.
IBISHNATIONWIDE
BUILDINGSOCIETY
1 Lower O'Connell Street, Dublin
1.
Telephone 780022.