If the balance on your current mortgage is less than the current value of your home, you may be able to release equity in your mortgage. This is also referred to as a top-up mortgage.
The amount you can borrow is based on the equity or value in your home. The amount you can borrow starts from €25,000 up to 85% of the current market value of the property today, less the outstanding balance you owe on the property. For example:
|
|
Top Up |
Further Advance |
|
Minimum Loan Amount |
€25,000 |
€40,000 |
|
Maximum LTV |
85% |
85% |
|
Maximum loan term |
35 Years |
35 Years |
|
Minimum loan term |
5 years |
5 Years |
Book an appointment at your local branch today to speak with one of our dedicated Mortgage Consultants, or give us a call on 0818 50 24 24 or +353 1 215 1344. Lines are open 9am to 5pm, Monday to Friday (excluding public holidays).
Top Up: Where significant structural works are not being carried out. Solicitor engagement for a Family Home declaration is required.
Further Advance: Where you are planning significant renovation works to your property e.g. structural works. A full legal pack is required.
Some documents are available to download.
Other documents may be required.
Many people use it to make home improvements or pay off existing debts. Contact us to discuss your situation.
2% monthly cashback: All Home Equity Loans are eligible for 2% monthly cashback. The 2% Monthly Cashback will be applicable on total scheduled repayments made from the Explore Current Account.
2% cashback at drawdown: Only new funds through Equity Release, Top-ups and Further Advance loans that were approved in the qualifying period will qualify. Cashback is not available on the 4 Year New Business Fixed Rate.
We have a suite of Fixed and Variable rates available. See our mortgage interest rates.
Equity release applications will be considered from non-PTSB customers who are looking to switch their existing mortgage to PTSB.
Yes. Solicitor Fees, valuation fees and other fees may apply.
Yes, you will need to update any insurance protection you currently hold before your new loan issues. Learn more about mortgage protection and home insurance.
The following schemes are available to eligible home owners:
Home Renovation Incentive (HRI): Home Owners can claim tax relief on repairs or renovations carried out by tax compliant contractors (13.5% VAT). HRI is paid in the form of tax credits at 13.5% set against income tax over 2 years. The work must cost at least €4,505 before tax (€5,000 after tax) and is capped at €30,000 before tax.
Better Energy Home Scheme: For improving energy efficiency within their home. Grants are available for various projects such as roof insulation, wall insulation, Solar Panels etc. To qualify you must get approval before you buy the materials. Maximum grant values dependant on the improvement and the style of housing (e.g. detached, terrace etc.).
Better Energy Warmer Homes Scheme: A scheme to improve the energy efficiency and warmth of homes owned by people on low incomes. No charge for work done under the Better Energy Warmer Homes Scheme.
Home Equity Loans are bound to the remaining term of the existing mortgage.
Yes, both of our Home Equity products require solicitor involvement. Further Advance requires solicitor for full legal pack, while Top Up requires solicitor for Family Home Declaration.
Yes, a valuation must be carried out by one of our qualified partners found on our valuer panel which will cost €150.00.
A valuation is valid for 4 months from the date of the valuation.
