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Mortgage Bonus Offer Lump Sum Payment form Customer Account

Mortgage Bonus Offer Lump Sum Payment form Customer Account 2025

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The document outlines the Mortgage Bonus Offer from permanent tsb, which allows borrowers to make a lump sum payment towards their mortgage to reduce the term. A minimum payment of €5,000 is required, and any additional amounts must be in multiples of €5,000. The offer includes a 10% bonus on each qualifying payment made during a specified period. It details eligibility criteria, terms and conditions for the bonus, and instructions for submitting the payment and application form.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Can I make a lump sum payment on my mortgage?

Yes, is the short answer, do it if you can afford to. Extra payments, lump sum payments all help towards the principal owing, which in turn lowers the total interest paid over the term and life of the mortgage.

Can you pay down a mortgage at renewal?

While it is possible to pay off your mortgage at renewal, consider whether your lump sum of money could be put to better use. For example, your lump sum of cash may serve you better if you invest it in the stock market or use it to pay off high-interest credit card debt.

Can I make a lump sum payment on my mortgage at renewal?

Talk to your Mortgage Choice mortgage broker to find out if lump sum payments are permitted for your home loan. Some lenders will only allow a certain extra amount to be paid off each year without incurring additional fees, and a broker can help you figure out the best way to save money and time off your home loan.

What happens to my mortgage payment if I make a lump sum?

Note: Most closed mortgage products allow a once-per-year lump sum payment of up to 20% of the remaining principal amount or balance. Example: if your balance at the end of the year is $100,000, the maximum lump sum payment for that year would be $20,000. Mortgage Term Ends.

Is it better to increase monthly mortgage payment or pay lump sum?

There are several advantages that come with making lump sum payments against the principal of your mortgage. Reduced interest costs: When you make an extra payment, it directly reduces the outstanding principal balance. As a result, the interest charged on the remaining balance also decreases.

How much of my mortgage can I pay off in a lump sum?

Putting down a lump sum at the time of renewal goes directly toward reducing the principal and typically can be done without incurring any penalties.

Can you pay lump sum when remortgaging?

Paying off a lump sum when you remortgage This approach is particularly beneficial if youre no longer in a fixed-rate period and are currently on your lenders Standard Variable Rate (SVR).

Mortgage Bonus Offer Lump Sum Payment form Customer Account 2025

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