Your home. all together better

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Your

home

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The EBS mutual difference

EBS Building Society was founded in 1935 by a small group of Irish teachers working

together to help each other buy their own homes. The idea was simple, people

coming together to realise their dreams of home ownership as members of a mutual

building society.

Our purpose is the same today as it was then; EBS is still owned by our members

and dedicated to helping them achieve their life goals. As well as home loans, we

now offer a complete range of financial services to everybody - savings, investments,

insurance, loans and credit cards - all designed to give them great value.

EBS has always been about making things better for people -

for our members and the community.

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Contents

The EBS mutual difference

Introduction

Firststep

Buying a home for the first time?

Familyfirst

Getting some help to buy your first home

HomeAccess

Making home ownership a reality for the first-time buyer

SelfBuild

Thinking of building your own home?

Nextstep

When its time to make your next move

QuickSwitch

Looking for a better deal on your mortgage?

BuytoLet

Buying to let

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3

4

5

6

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8

10

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EBS can help you get on the property

ladder - and climb it at your own pace.

As a mutual, EBS is committed to making home ownership a reality for as many people

as possible. When you’re ready to buy your first home, EBS will be there to get you

started and guide you through the process from beginning to end. Once your growing

family starts running out of space, we’ll help you take the next step to a bigger property.

And, when the time comes for your children to fly the coop, we’ve come up with a

home loan to help them on their way. Wherever you are on the property ladder, you can

rely on EBS to give you all the help and expert advice you need. And when it comes to

value, our priority is to offer our members the very best value home loans in Ireland

*

.

*

EBS has an unbeatable record over the past 10 years of offering our members

the best value mortgages in Ireland, as verified by research carried out by an

independent auditor. Today EBS has one of the lowest standard variable home

loan interest rates in Ireland.

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EBS helps thousands of eager first-time buyers each year to buy their first homes with

EBS Firststep.

Buying a home for the

first time?

Buying your first home is an exciting

time, but it also can be a bit daunting

especially when you don’t know what to

expect. EBS organises First Time Buyer

seminars around the country to help

them get the information they need and

to be more prepared for what’s ahead.

Visit

www.ebs.ie

for a list of dates and

venues for our next seminars.

We’ve also produced a series of books

called ‘

a little book about

’ giving you

straight-talking, impartial information

and advice on a number of topics.

EBS

Firststep

1

at a glance

Range of competitive

HomeLoan rates – Fixed

Tracker Variable

Reduce your repayments

for the first year with

EBS Easystep.

Repay your Home Loan

over 35 years.

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Getting some help to buy

your first home.

Rising property prices mean that many first-time buyers are finding it more difficult to

get their foot on the property ladder.

EBS

Familyfirst

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Familyfirst is a home loan

specially designed to help

first-time buyers buy a place

of their own with the help of

their parents.

As a parent, you can borrow

against the value built up

in the family home to help

contribute to the cost of your

child’s first home.

You can pick up your free copy of

a little book about buying

your first home

at your local

EBS office.

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If you’d like to find out more about the

Affordable Housing Scheme visit

www.ebs.ie/insidetrack

.

An information leaflet on EBS

HomeAccess is available from your local

EBS office.

As a mutual building society, EBS is committed to making home ownership a reality

for as many people as possible. With the rise in property prices, many first-time buyers

have found it difficult to buy their own homes. That’s why we have been working with

the Department of Environment and Local Government to develop a home loan for

people who qualify for the Affordable Housing Scheme. This loan is called HomeAccess.

Making home ownership a reality

for the first-time buyer.

EBS

HomeAccess

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at a glance

Borrow up to 97% of the

discounted purchase price

of your home meaning you

only need is a 3% deposit.

Choose a mortgage term of

up to 35 years giving you

the option to have lower

monthly repayments when

you need them most.

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More people than ever before are looking at the option of building their own home.

Not only is there hope of getting better value for money, you also get to design your

home exactly how you want it. EBS SelfBuild is a home loan specially designed to help

you turn your ideas into reality.

Thinking of building your

own home?

EBS

SelfBuild

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at a glance

Pay only the interest on your

loan for up to 12 months or

until the full loan amount is

drawn down.

Make use of stage

payments, which means

you draw down money only

when you need it, so you

pay less interest.

Borrow up to 100%

towards construction.

Free ‘Course of Construction’

cover with EBS Householder

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gives you extra peace of

If you’d like more advice on what’s

involved in building your own home

- from buying a site and applying for

planning permission to choosing a

builder and making staged payments

- simply visit

www.ebs.ie/insidetrack

and follow the links to ‘

Building your

own home

’.

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Don’t be tempted to make an offer on

a property before accepting offers on

your current home. Avoid legally binding

commitments to buy a new home until

you have a similar agreement for your

existing home.

However happy you are with your first home, sometimes it makes sense to move on.

Maybe you need more space for a growing family or you’ve spotted something special

you know you can turn into your dream home. Whatever the reason for your next move,

EBS Nextstep is a home loan designed specially to make it go as smoothly as possible.

When it’s time to make your

next move.

EBS

Nextstep

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at a glance

Excellent bridging loan

facilities available.

Flexible repayment options.

Easy access to additional

money when you need it

and pre-approved

reserve facility.

Option to combine your debt

into one payment at a home

loan interest rate.

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EBS has designed the ideal mortgage for those who would like to change their

mortgage lender or are considering borrowing more money. QuickSwitch is the

fast and efficient way to switch your mortgage to EBS.

Looking for a better deal on

your mortgage?

EBS

QuickSwitch

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at a glance

No legal fees.

Fast processing

Borrow to release equity or

combine your debts into

one payment.

Switch your mortgage

and avail of one of Ireland’s

lowest standard variable rates.

When you are switching your mortgage

you can release some of the value that

has built up in your property to do

the home improvements you’ve been

dreaming about.

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Buy-to-let has become popular with both seasoned investors building their portfolios and

with people investing for their future. Some people are investing now to help their children

buy their own homes when the time comes and others are making plans for their retirement.

EBS BuytoLet is a mortgage especially for people who want to invest in

residential property.

Buying to let

EBS

BuytoLet

8

at a glance

Loans of up to 90% of the

value of the property for first

time investors in buy-to-let.

Option to borrow up to

100% of the property if you

have another property to use

as security.

Flexible loan terms of up to

30 years.

Option to repay only the

interest on the loan for the

first 5 years

(conditions apply).

If you’re thinking of becoming a

landlord, choose your tenants carefully.

Before you advertise, decide what type

of tenant you want and hold out until

you get what you want. Make sure there

are references and get a deposit upfront.

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Choosing an EBS home loan means you also get exclusive access to low-cost loans

with EBS LifeChoice. So, whether it’s time to make some home improvements, buy

a new car or invest in your child’s future, EBS LifeChoice allows you to apply for the

money you need to put your plans into action at competitive interest rates.

Time to make some changes?

EBS

LifeChoice

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at a glance

Choice of terms available to

suit your changing needs.

Borrow from

d

5,000.

Free life assurance of up to

d

30,000

(conditions apply).

Very competitive

interest rates.

Before you decide on the term of your

loan, ask to see the cost of credit over

different terms. The cost of credit is the

true cost of your loan. Repaying your

loan over a long term will mean lower

monthly repayments, but more interest

over the full term of the loan. So, paying

back a loan in as short a time as you can

afford will reduce its overall cost.

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Jargon buster

Our jargon buster explains some of the terms you might come

across when you’re buying property.

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Annualised Percentage Rate (APR):

This is a percentage that includes the loan

interest rate, the way the rate is applied and any lender fees and charges. It indicates

the true cost of borrowing, so helping you compare the cost every year of different

types of loan.

Interest rate:

This is the cost of borrowing money. For example, if you borrowed

d

100

for a year and the interest rate was 10% per annum, the amount of interest you pay

would be

d

10. You could also say that the cost of borrowing

d

100 a year was

d

10.

If the interest rate is

fixed

, it stays the same for a set period of time.

If it is variable or

tracker

, it can go up or down over the term of the loan.

Loan to value (LTV):

This is the amount of the loan expressed as a percentage of

the value of the property. For example, if you wanted to borrow

d

90,000 and the

value of the property were

d

100,000, the LTV would be 90%.

Stamp duty:

This is a government tax charged on all residential properties. The

amount of stamp duty you pay is determined by your individual circumstances. Your

solicitor will determine how much stamp duty you will pay or contact the Revenue

Commissioner for more details.

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Need some help?

If you’d like to know more about how EBS can help you:

call in to your local EBS office

phone us on

1850 654 321

visit our website

www.ebs.ie

For quick and easy access to clear, independent financial

information and advice, log onto

www.ebs.ie/insidetrack

.

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WARNING: YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE

OR ANY OTHER LOAN SECURED ON IT. THE PAYMENT RATES ON THIS HOUSING LOAN MAY

BE ADJUSTED BY THE LENDER FROM TIME TO TIME. YOU MANY HAVE TO PAY CHARGES IF

YOU PAY OFF A FIXED-RATE LOAN EARLY. DEBT CONSOLIDATION LOANS MAY TAKE LONGER

TO PAY OFF THAN YOUR PREVIOUS LOANS. THIS MEANS THAT YOU MAY PAY MORE THAN

IF YOU PAID OVER A SHORTER TIME.

WARNING: THE ENTIRE AMOUNT THAT YOU HAVE BORROWED WILL STILL BE OUTSTANDING

AT THE END OF THE INTEREST ONLY PERIOD (with interest only loans)

Important Information (Note: Not applicable for EBS Buy To Let or EBS Householder).

Lending terms and conditions apply. As a general rule the loan amount should not exceed 3 times the main income or 3 times the joint income (in the case of two earners). A mortgage on your home is required as security.

The repayment for a loan amount of €100,000 over 20 years would be 659.96 (variable rate 5.2% excluding

insurance payments). An increase in interest rates of 1.0% would increase the repayment by €56.47. A qualified valuer will need to value your property. This valuation should not cost you more than e127 (plus travel expenses where applicable). Under the Consumer Credit Act, 1995, a mortgage protection policy is required for all housing loans. EBS can arrange this for you.

1) The maximum loan property to value with EBS Firststep is 100%. With the Easystep option, your payments

are reduced in year 1. This means that your repayments will increase from year 2 onwards to ensure that the full loan is repaid within the original term agreed. Your repayments from year 2 and onwards will include an interest charge for the Easystep option.

2) The maximum loan to property value with EBS Family First is 95%.

3) Normally we will lend only up to 97% of the purchase price of the property. The HomeAccess mortgage is not available to those who have purchased a low-cost site from their local authority. You are not eligible for an EBS HomeAccess mortgage if you previously bought a house under another local authority housing scheme. It is not possible to release further equity on your home (top-up) under a Home Access mortgage regardless of the amount of equity you have built up in your home.

4) The maximum loan property to value with EBS Self Build is 90%. You can borrow up to 90% of your site cost and 100% of your building cost, provided your total borrowings do not exceed 90% of the property’s final valuation. The free Course of Construction insurance arranged by EBS covers the buildings for the damage caused by fire, flood and storm only. Course of Construction Insurance is underwritten by Allianz Corporate Ireland plc who is regulated by The Financial Regulator. There is no liability cover included on the policy. 5) EBS Householder is brought to you by EBS and Allianz Corporate Ireland plc. Terms and conditions apply.

Full policy wording available on request. EBS householder is suitable for private dwelling houses of standard construction with a rebuilding cost not exceeding e1,000,000. EBS Householder is underwritten by Allianz Corporate Ireland plc. EBS Building Society (EBS) is a tied agent of Irish Life Assurance plc (Irish Life). EBS, Irish Life, Allianz Corporate Ireland plc and Genworth Financial Insurance plc are regulated by the Financial Regulator. 6) The maximum loan to property value with EBS Next Step is 92%.

7) The maximum loan to property value with EBS Quickswitch is 85%. Minimum loan amount for EBS Quickswitch is e70,000. With EBS Quickswitch, EBS does not charge switching fees and covers your legal costs provided you choose a solicitor from our Quickswitch scheme. However, if you would prefer to use your own solicitor you will be responsible for the costs. If you decide to move your mortgage to another institution before the end of a 5 year period you will be required to pay EBS e777.

8) With EBS Buy to Let, the maximum loan to property value (LTV) on your new investment property is 90%.

In order to avail of 100% finance equity, at least 10% must be released from another property which may include your main residence. As a general rule the loan amount should not exceed 3 times the main income or 3 times the joint income (in the case of two earners). A mortgage on the buy to let property and any other equity released properties are required as security. The payment per month on a typical 20 year loan of e100,000 with LTV <75% is e659.96 (variable APR 5.2% excluding insurance payments). An increase in interest

rates of 1% would translate into an additional e55.86 per month. The payment per month on a typical 20

year loan of e100,000 with LTV >75% is e659.96 (variable APR 5.2% excluding insurance payments). An increase in interest rates of 1% would translate into an additional e56.47 per month. Rates correct as at April 2007. A qualified valuer will need to value the property that is being offered as security. This valuation should not cost you more than e127 per property (plus travel expenses, where applicable).

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