APS
If you’re buying a property, you’ll most likely need a loan to finance it. Described next are various organisations that provide home loans. Some of them may be able to pre-approve a loan so you know what you can afford and can demonstrate to the sellethat you have the finance.
Two products are available fohome financing. Both are said to be based on straight forward borrowing principles so that buyers can have control of theicommitments. A Budget Planneis available so you can enteyoumonthly income and outgoings in ordeto calculate how much you can afford to borrow. A Loan Calculatoworks out the repayment amounts.
The APS Home Loan:
- is available to anyone of 18 years oover
- provides up to 90% of the purchase price and completion expenses
- is available foany term up to 35 years providing the loan is repaid by the earlieof the borrowe’s retirement o65th birthday
- allows repayment amounts up to a maximum of 25% of joint gross income oup to 35% if the loan is also to coveothehome-related items such as furniture
- has fixed instalment amounts that are calculated to repay capital and interest by the end of the term of the loan.
- The APlus Account is a flexible product fohome financing that:
- provides loan amounts above €85,000
- is a combined home loan, saving and overdraft facility
- has a cheque book and debit card
- simplifies account maintenance since you only have one account to reconcile
- has the same limits as the APS Home Loan.
If yousalary and otheearnings go into the APlus Account, they are automatically offset against the home loan. The debit interest saved will be more than the equivalent interest on savings. Withdrawals and bill payments can be made like any current account and a quarterly statement shows youmonthly debit limit and the amount available fowithdrawal.
Each of these products has various benefits that include:
- a personalised service where staff provide advice and guidelines to create the most suitable loan with customised terms
- no legal and processing costs, saving up to €1,200 compared to otheproducts
- flexible repayments that can be altered to reflect changing circumstances
- low interest rates and no hidden charges
- no penalties on early repayment
- automatic qualification foan APS Premiecard and APS Visa Debit Card.