Arrears
Other than in respect of a homeloan, additional interest shall be charged by the Society and shall be payable by a borrower at the end of each calendar quarter on the total arrears in respect of all payments outstanding and remaining unpaid at the end of each calendar quarter, in accordance with Rule 18 of the Society's Memorandum and Rules.

Fixed Rate Breakage Fees:
Where the borrower proposes to repay a fixed rate loan (full or part) or convert a fixed rate loan before the expiration of the fixed rate period the borrower shall, in addition to all other sums payable, as a condition of and at the time of such repayment/ conversion, pay the Society a sum equal to the Society’s estimate of the loss (if any) occasioned by such early repayment or conversion subject to a maximum sum of six months interest calculated at the fixed rate on the principal sum of the loan so redeemed or converted. With regard to variable mortgages, Rule 19(2) of the Society’s Memorandum and Rules will apply.

Endowment Mortgage:
You repay only interest. You invest in an endowment policy which can be arranged with a leading Life Assurance Company which is assigned as security to Irish Nationwide. This is designed to pay off the loan at the end of the term assuming a certain investment return is achieved. If your plan achieves a higher return than expected there may be an additional lump sum remaining after repaying the mortgage.
WARNING: There is no guarantee that the proceeds of the insurance policy will be sufficient to repay the loan in full when it becomes due for repayment. Future investment returns are not guaranteed.

An endowment policy for the amount of the loan will not discharge on your death, any arrears of interest and late charges, or redemption fees payable on fixed rate loans.

WARNING YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER LOAN SECURED ON IT. INTEREST RATE WARNING THE PAYMENT RATES ON THIS HOUSING LOAN MAY BE ADJUSTED BY THE LENDER FROM TIME TO TIME. FIXED RATE WARNING YOU MAY HAVE TO PAY CHARGES IF YOU PAY OFF A FIXED-RATE LOAN EARLY. VARIABLE-RATE WARNING THE COST OF YOUR MONTHLY REPAYMENTS MAY INCREASE – IF YOU DO NOT KEEP UP YOUR REPAYMENTS YOU MAY LOSE YOUR HOME. INTEREST-ONLY WARNING THE ENTIRE AMOUNT THAT YOU HAVE BORROWED WILL STILL BE OUTSTANDING AT THE END OF THE INTEREST-ONLY PERIOD. DEBT CONSOLIDATION WARNING THIS NEW LOAN MAY TAKE LONGER TO PAY OFF THAN PREVIOUS LOANS. THIS MEANS YOU MAY PAY MORE THAN IF YOU PAID OVER A SHORTER TERM.

© 2010 Irish Nationwide Building Society | Accessibility | Terms & Conditions | Privacy Policy | Site Map

By proceeding further you are deemed to have read and accepted our Terms & Conditions and Privacy Policy. This site is best viewed using Internet Explorer 6.0+. Certain documents on this site require Adobe Acrobat Reader. Irish Nationwide Building Society is regulated by the Financial Regulator. Registered Office: Nationwide House, Grand Parade, Dublin 6. Registered No. 14B Dublin.