“Our clients owed an overall amount of €220,000 with arrears of €68,426 on their family home. Having restructured their account, their lender has warehoused €84,500 and customer is making repayments on €135,500. Their lender will reduce the warehoused amount by 5% for every 5 years that the customer stays in the arrangement and will potentially be reduced by approximately €29,575 at the end of the mortgage term.”
PM, Louth – May 2017
SPLIT MORTGAGE RESTRUCTURE AND LUMP SUM WAREHOUSED