KBC Homeloans announced today they will pay customer legal fees up to €1,000, subject to the following:

- It is for First Time Buyers and Home Mover mortgages only
- Minimum loan amount is €200,000
- Normal lending criteria applies
- Discounted standard variable rate only
- Available for all closed business by 30th June, 2009 �
- The €1,000 will be clawed back if the mortgage is redeemed within five years

KBC Homeloans have also reduced their fixed rate mortgage rates. They now offer:

- 2 year fixed rate 3.29%
- 3 year fixed rate 3.69%

Mortgage Lending in KBC is still restricted to 80% loan to value. Raising 20% towards the purchase of your first home is a “big ask” for any first time buyer. (E.g. €300,000 purchase price requires €60,000 deposit from applicant).

Along with that, when considering these types of incentives, it is important to assess the different interest rates available to you. The €1,000 sounds great! But, if you are on a higher rate than what’s available through other lenders, you could pay thousands more in interest throughout the term of your term of your Mortgage. This product is not available for remortgages.

Tags: First Time Buyer, Home Mover, mortgage

This entry was posted on Friday, March 13th, 2009 at 9:55 pm and is filed under First Time Buyer, Mortgage Loans General Market News, Moving Home. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.