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Buying a house 2012

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Comments

  • Registered Users Posts: 708 ✭✭✭cork_south


    Felexicon wrote: »
    Hi

    We have our deposit saved for a mortgage.

    Just wondering do we have to have the money in place for additional fees (solicitor,stamp duty etc.) before applying for AIP.

    Also what is the current situation for stamp duty for FTB.


    Also this is a really helpful thread thanks everyone for some solid advice.


    http://www.propertyfile.net/stampduty.htm


  • Registered Users, Registered Users 2 Posts: 3,447 ✭✭✭Felexicon


    cork_south wrote: »
    Cheers man!!!!!!

    Unfortunately web blocker in work won't allow me to view this.
    I'll check it out later


  • Registered Users Posts: 188 ✭✭Yeboah


    Felexicon wrote: »
    Hi

    We have our deposit saved for a mortgage.

    Just wondering do we have to have the money in place for additional fees (solicitor,stamp duty etc.) before applying for AIP.

    Also what is the current situation for stamp duty for FTB.


    Also this is a really helpful thread thanks everyone for some solid advice.

    Yeah this is a really helpful thread alright, Killers1 deserves a medal to be fair. Stamp duty for first time buyers is 1% of the price of the property. As far as I am aware they will look for extra funds on top of the deposit to cover legal fees and even furnishing of the property. I had to scrape and borrow the bones of 10 extra grand together to get my approval which was hard. Killers1 is the one to ask though. Still awaiting on title to be sorted on my property...getting a bit fed up of waiting at this stage but just hope it all works out in end


  • Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    Yeboah wrote: »
    Yeah this is a really helpful thread alright, Killers1 deserves a medal to be fair. Stamp duty for first time buyers is 1% of the price of the property. As far as I am aware they will look for extra funds on top of the deposit to cover legal fees and even furnishing of the property. I had to scrape and borrow the bones of 10 extra grand together to get my approval which was hard. Killers1 is the one to ask though. Still awaiting on title to be sorted on my property...getting a bit fed up of waiting at this stage but just hope it all works out in end

    Thanks Yeboah!:)


  • Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    Felexicon wrote: »
    Hi

    We have our deposit saved for a mortgage.

    Just wondering do we have to have the money in place for additional fees (solicitor,stamp duty etc.) before applying for AIP.

    Also what is the current situation for stamp duty for FTB.


    Also this is a really helpful thread thanks everyone for some solid advice.

    You don't necessarily have to have the additional funds in place at AIP stage but need to cover off where they are coming from. If you are just looking for a figure you qualify for based on your income and proven repayment capacity the bank will be able to give you an amount that they would be happy to lend to you. You can always say that a parental gift is available to cover stamp duty (which as Yeboah said is 1% of the purchase price) and then by the time you find a property and have an offer accepted if you have the additional money saved then you tell the bank you no longer need the gift as you have the funds required. Nothing to stop you ploughing ahead to get your AIP at this stage...


  • Registered Users, Registered Users 2 Posts: 3,447 ✭✭✭Felexicon


    killers1 wrote: »
    You don't necessarily have to have the additional funds in place at AIP stage but need to cover off where they are coming from. If you are just looking for a figure you qualify for based on your income and proven repayment capacity the bank will be able to give you an amount that they would be happy to lend to you. You can always say that a parental gift is available to cover stamp duty (which as Yeboah said is 1% of the purchase price) and then by the time you find a property and have an offer accepted if you have the additional money saved then you tell the bank you no longer need the gift as you have the funds required. Nothing to stop you ploughing ahead to get your AIP at this stage...
    Thanks Killers1.


  • Registered Users, Registered Users 2 Posts: 14,331 ✭✭✭✭leahyl


    Just want to say thanks to Killers1:) I had a thread up a few months ago about whether I would get a mortgage or not and if so how much - Killers1 told me I'd get 135k. My dad went into BOI today just to enquire for me and they said I'd qualify for....135k:) They obviously need to talk to me in person though!

    I think if I find the right place then I'm gonna take the plunge this year!


  • Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    leahyl wrote: »
    Just want to say thanks to Killers1:) I had a thread up a few months ago about whether I would get a mortgage or not and if so how much - Killers1 told me I'd get 135k. My dad went into BOI today just to enquire for me and they said I'd qualify for....135k:) They obviously need to talk to me in person though!

    I think if I find the right place then I'm gonna take the plunge this year!

    Hi Leahyl,
    You're very welcome, I'm glad the figures I gave you were accurate! Don't put all your eggs in one basket though as there are cheaper mortgage rates available out there at the minute... Thanks for your comment, much appreciated!


  • Registered Users, Registered Users 2 Posts: 14,331 ✭✭✭✭leahyl


    killers1 wrote: »
    Hi Leahyl,
    You're very welcome, I'm glad the figures I gave you were accurate! Don't put all your eggs in one basket though as there are cheaper mortgage rates available out there at the minute... Thanks for your comment, much appreciated!

    Well my own bank PTSB weren't very positive when my dad went in to enquire - they said they were lending and then in the next breath the guy said "we aren't very competitive"! If that's not putting me off I don't know what is!! So I'm not even gonna waste my time with them - they did the same with my brother when he was buying, not returning his calls, fobbing him off basically. They didn't even give my dad any information or anything.

    With BOI they gave him a first time buyers pack to read through, which I probably could have got on the internet, but it shows they are interested I think.
    My dad said they seemed very positive.

    I have heard mixed things about AIB. I know they have the best rate out of the main banks (I think?!) but going on my brothers experience he said they were as bad as PTSB.


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  • Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    leahyl wrote: »
    Well my own bank PTSB weren't very positive when my dad went in to enquire - they said they were lending and then in the next breath the guy said "we aren't very competitive"! If that's not putting me off I don't know what is!! So I'm not even gonna waste my time with them - they did the same with my brother when he was buying, not returning his calls, fobbing him off basically. They didn't even give my dad any information or anything.

    With BOI they gave him a first time buyers pack to read through, which I probably could have got on the internet, but it shows they are interested I think.
    My dad said they seemed very positive.

    I have heard mixed things about AIB. I know they have the best rate out of the main banks (I think?!) but going on my brothers experience he said they were as bad as PTSB.

    Hi Leahyl, yes ptsb haven't much interest in lending at the minute even though they did reduce their rates for new business recently showing a sign that they may be looking to get back into the market at some stage. One thing you should never ever do is compare your mortgage application to someone elses. No two applications are the same even where applicants earn the same amount of money. There can be huge differences is how each applicant manages their money which could lead to 2 completely different decisions from the same bank. I take it your brother applied directly to AIB himself....Banks are willing to lend where an application ticks all their boxes and is within credit policy... Best of luck!


  • Registered Users, Registered Users 2 Posts: 73 ✭✭Learpholl


    leahyl wrote: »
    I have heard mixed things about AIB. I know they have the best rate out of the main banks (I think?!) but going on my brothers experience he said they were as bad as PTSB.
    Just to contrast this, I've only just taken out a mortgage with AIB in the past month or so and have found them to be great throughout. I also applied with BOI and I found AIB were quicker to respond each time and have been very straightforward to deal with. So i wouldn't rule out the bank with the most competitive interest rate at the moment just on the experience of one person even if he is your brother. Might just be that he had a bad advisor in the bank so maybe try a different bank to him.


  • Registered Users Posts: 355 ✭✭nemo32


    Learpholl wrote: »
    Just to contrast this, I've only just taken out a mortgage with AIB in the past month or so and have found them to be great throughout. I also applied with BOI and I found AIB were quicker to respond each time and have been very straightforward to deal with. So i wouldn't rule out the bank with the most competitive interest rate at the moment just on the experience of one person even if he is your brother. Might just be that he had a bad advisor in the bank so maybe try a different bank to him.

    I agree with learpholl, I banked with BOI for 20 years and no credit problems and they told me to come back in a couple of mths when I had saved a couple of grand more (even though I had 10% deposit, stamp duty and solicitors fees) and the same day AIB submitted my application and I got approved within 7 days. LTV was better and rates are better so happy BOI weren't interested in the end. There loss!


  • Registered Users, Registered Users 2 Posts: 14,331 ✭✭✭✭leahyl


    Hey guys, thanks for your input!

    I asked my dad to enquire at AIB today for me (God my dad is beginning to sound like my personal mortgage shopper;)! Have no time cos am working all day)
    so will get an idea then on whether they would be willing to lend.

    Obviously, I will have to go in myself and talk with them in person.:)


  • Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    leahyl wrote: »
    Hey guys, thanks for your input!

    I asked my dad to enquire at AIB today for me (God my dad is beginning to sound like my personal mortgage shopper;)! Have no time cos am working all day)
    so will get an idea then on whether they would be willing to lend.

    Obviously, I will have to go in myself and talk with them in person.:)

    Sounds like Dad should be a mortgage broker!! Then you'd never need to go and talk to any of them in person!!!


  • Registered Users Posts: 145 ✭✭mmc2010


    leahyl wrote: »
    Hey guys, thanks for your input!

    I asked my dad to enquire at AIB today for me (God my dad is beginning to sound like my personal mortgage shopper;)! Have no time cos am working all day)
    so will get an idea then on whether they would be willing to lend.

    Obviously, I will have to go in myself and talk with them in person.:)

    hi leahyl, its great fun, this mortgage process... I would recommend getting a broker for your own sanity!


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  • Registered Users Posts: 97 ✭✭Starrgrrl


    Hi!! We're hoping to buy soon to! Just waiting for our official acceptance now really. We have a booking deposite paid for the house and approval in principal but our case is a bit different because we're buying an unfinished building (it's at the 2nd fix stage) so we're getting a combination normal and self build mortgage.

    It's hard work gathering everything together but fingers crossed we'll be sorted sooner rather then later!!


  • Closed Accounts Posts: 212 ✭✭Flancrest


    Starrgrrl wrote: »
    Hi!! We're hoping to buy soon to! Just waiting for our official acceptance now really. We have a booking deposite paid for the house and approval in principal but our case is a bit different because we're buying an unfinished building (it's at the 2nd fix stage) so we're getting a combination normal and self build mortgage.

    It's hard work gathering everything together but fingers crossed we'll be sorted sooner rather then later!!
    Good stuff best of luck with it. Hopefully you'll get a few BBQs in the new garden this year.


  • Registered Users Posts: 34 sillyruby


    We have gone sale agreed and have mortgage and all sorted, got an independent surveyor to assess the house and he has turned up quite a few issues the major ones being the roof and stairs in the house not being up to regulations. Now he said he will sort the roof and few of smaller things but where do we stand on the others? Can we use some of them to reduce the current sale agreed price?This has cast doubt and a dampener on our excitement- main problem seems he and worker friends did a lot of work on the house.


  • Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    sillyruby wrote: »
    We have gone sale agreed and have mortgage and all sorted, got an independent surveyor to assess the house and he has turned up quite a few issues the major ones being the roof and stairs in the house not being up to regulations. Now he said he will sort the roof and few of smaller things but where do we stand on the others? Can we use some of them to reduce the current sale agreed price?This has cast doubt and a dampener on our excitement- main problem seems he and worker friends did a lot of work on the house.

    The most important person here that you should be talking to in relation to this is your surveyor. You will NEVER get a blank survey back and there will always be some issues highlighted. I'd suggest talking to the Surveyor in detail about the issues to see if any of them are deal breakers or not. I presume when you said 'he' would get them sorted you meant the owner? There's no harm in letting him do the work and then getting your surveyor back to ensure they're happy with the works. Do not proceed until the property meets building regulations. If the other items are minor you can raise them with the owner to see how many of the issues they are willing to put right. If they are more serious issues you can try to use them to renegotiate the purchase price which may or may not be successful. When you buy a property there is also an element of you are buying it in the condition it's in and can't expect the owner to put every single item highlighted in your surveyors report right but then again there's nothing stopping you in asking...Ultimately if the Surveyor suggests you should walk away then take their advice...


  • Registered Users Posts: 188 ✭✭Yeboah


    sillyruby wrote: »
    We have gone sale agreed and have mortgage and all sorted, got an independent surveyor to assess the house and he has turned up quite a few issues the major ones being the roof and stairs in the house not being up to regulations. Now he said he will sort the roof and few of smaller things but where do we stand on the others? Can we use some of them to reduce the current sale agreed price?This has cast doubt and a dampener on our excitement- main problem seems he and worker friends did a lot of work on the house.

    could be a problem..we had a house fall through because of building regs and planning issues as mentioned before in this thread. It depends how much needs to be done and whether exemptions are needed etc. We had too much to do and had to walk away (esp with our solicitors advice)..Only when we were officially pulling out did the vendors make an attempt to lower price but it was too late by then.Hope its just a few small things and it all works out for you anyways.On my own house, the long awaited title has been found, just waiting for confirmation of planning and contracts now.. Still hoping for that Summer BBQ :D


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  • Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    Yeboah wrote: »
    Still hoping for that Summer BBQ :D

    I look forward to the invite.....:D


  • Registered Users Posts: 188 ✭✭Yeboah


    killers1 wrote: »
    I look forward to the invite.....:D

    more than welcome Killers1 :cool:


  • Closed Accounts Posts: 3 Northside26


    I'm interested in your group of buyers!!

    Wondering if anyone can help me....Hoping to buy first home soon.... I'm currently renting in Baldoyle I would like to move over to Southsude Dublin as I'm originally from Crumlin, even though I wouldn't buy in Crumlin right now it is a great location for shops and facilities nearby..... I did originally like Lucan and looked in Lucan but it seems to be houses EVERYWHERE not many shops pubs really am also thinking of Rathcoole or Castleknock

    Does anyone have any suggestions for a good area to buy right now??:confused:


  • Registered Users, Registered Users 2 Posts: 166 ✭✭blueturnip


    Hi again all!

    We had an offer on a house accepted today! Now we have no clue what's next! :)

    We have the deposit going to the EA tomorrow and have spoken to my solicitor and everything.

    But, is now the time, I complete the mortgage application form and send it off? With regards to the Valuation of the property, does the bank organise this (AIB) or do we organise it? Do I have to have this done before sending in the completed loan application?

    Thanks!


  • Closed Accounts Posts: 2,858 ✭✭✭Bigcheeze


    blueturnip wrote: »
    Hi again all!

    We had an offer on a house accepted today! Now we have no clue what's next! :)

    We have the deposit going to the EA tomorrow and have spoken to my solicitor and everything.

    But, is now the time, I complete the mortgage application form and send it off? With regards to the Valuation of the property, does the bank organise this (AIB) or do we organise it? Do I have to have this done before sending in the completed loan application?

    Thanks!

    Yes apply for Mortgage next.
    You organise valuation using one of the valuers listed on the AIB website.

    Send in application before valuation to get it started in the process but you and your solicitor won't get the full offer until valuation done.


  • Registered Users Posts: 355 ✭✭nemo32


    blueturnip wrote: »
    Hi again all!

    We had an offer on a house accepted today! Now we have no clue what's next! :)

    We have the deposit going to the EA tomorrow and have spoken to my solicitor and everything.

    But, is now the time, I complete the mortgage application form and send it off? With regards to the Valuation of the property, does the bank organise this (AIB) or do we organise it? Do I have to have this done before sending in the completed loan application?

    Thanks!

    Hi Blueturnip,

    Yes this is the time to complete the mortgage application, once you have that done AIB will give you a list of valuers that they use and you need to pick one of them and get the valuation orgainsed, but the valuer will contact the EA directly to organise the valuation and send the report into AIB, the only thing you need to do is call them up and give them the details and pay them :)
    I would say if your unsure of the process steps, call the bank and get them to run through it with you. I went with AIB and they were very helpful in explaining what has to happen and in what sequence.

    Congrats and I hope it all runs smoothly for you :)


  • Closed Accounts Posts: 2,858 ✭✭✭Bigcheeze




  • Registered Users, Registered Users 2 Posts: 14,331 ✭✭✭✭leahyl


    leahyl wrote: »
    Hey guys, thanks for your input!

    I asked my dad to enquire at AIB today for me (God my dad is beginning to sound like my personal mortgage shopper;)! Have no time cos am working all day)
    so will get an idea then on whether they would be willing to lend.

    Obviously, I will have to go in myself and talk with them in person.:)

    Just to update - my dad dropped into AIB and they said (just from my dad giving them some info about my situation/finances) that I would qualify for 105k which I thought was quite low considering BOI quoted 135k!


  • Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    leahyl wrote: »
    Just to update - my dad dropped into AIB and they said (just from my dad giving them some info about my situation/finances) that I would qualify for 105k which I thought was quite low considering BOI quoted 135k!

    AIB's calculator changed recently and depending on the applicants salary the figures will come out significantly lower than other lenders.


  • Registered Users, Registered Users 2 Posts: 357 ✭✭Marco85


    killers1 wrote: »
    AIB's calculator changed recently and depending on the applicants salary the figures will come out significantly lower than other lenders.

    So they have moved the goalposts slightly. Do they do this often killers?


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  • Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    Marco85 wrote: »
    So they have moved the goalposts slightly. Do they do this often killers?

    Generally only happens once a year to take into account any changes in the previous Budget like tax changes or TRS changes..but they could do it at any time if they wanted to.


  • Registered Users, Registered Users 2 Posts: 357 ✭✭Marco85


    killers1 wrote: »
    Generally only happens once a year to take into account any changes in the previous Budget like tax changes or TRS changes..but they could do it at any time if they wanted to.

    What kind of drop are you looking at then? Spoke to you via pm couple of months back regarding figures. Missus on 25k gross in civil service and i am on 15k net self employed. Both 27,no dependants,no loans.


  • Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    Marco85 wrote: »
    killers1 wrote: »
    Generally only happens once a year to take into account any changes in the previous Budget like tax changes or TRS changes..but they could do it at any time if they wanted to.

    What kind of drop are you looking at then? Spoke to you via pm couple of months back regarding figures. Missus on 25k gross in civil service and i am on 15k net self employed. Both 27,no dependants,no loans.

    Hey Marco,
    I have your details so I'll the figures for you again later when I back to the laptop tonight and send you a PM...tks


  • Registered Users, Registered Users 2 Posts: 357 ✭✭Marco85


    killers1 wrote: »
    Hey Marco,
    I have your details so I'll the figures for you again later when I back to the laptop tonight and send you a PM...tks

    Cheers killers,much appreciated!


  • Registered Users Posts: 97 ✭✭Starrgrrl


    Good news today! Formal offer of mortagage came through this morning! Yipee!!!!!!
    Meeting with the bank to talk about insurance (I think) on Monday.
    Any idea what happens next?
    How long till we get our keys??!!!?
    Sooooo excited! (and a but sick)


  • Registered Users Posts: 338 ✭✭dove2011


    Hi all,
    This is a very informative thread and has provided me with an amount of information. I have applied to AIB for a mortgage for E96,000, I have the 8% deposit saved with AIB which has accumlated of 3 years of savings based on E250 per month. I put an offer on a house last monday with the view of been granted a mortgage which they accepted. The vendor is looking for a quick sale. I have till next Friday to confirm if I am granted a mortgage.
    I am in full time employment with a salary of E30k, non dependants and first time buyer. The mortgage repayments will be less than what I save and rent per month; would you believe I would get a mortgage? How long do you think the process will take? Will the EA accept the letter in principle

    I originally wanted to go with a broker but I had to ring few times to get an appointment after providing them with full details.

    Any advice would be greatly appreciated.


  • Registered Users Posts: 145 ✭✭mmc2010


    Hi dove2011, it is not a quick process applying for a mortgage. To be approved in principle with AIB will take at least 10 days - maybe 15days. To be approved in full (after you provide all the information they require) could take another 10 days and again, maybe longer. I would suggest going with a broker, as I have.
    So much depends on the quality of the application going to the underwriters that I would not leave it to chance that you come across a good lending officer in a branch! Killers1 is very helpful on this thread and may be willing to help (if you ask him nicely:)).
    I'm sure if you explain to the EA that you will need to wait longer than 5 days to obtain AIP, he might hold it for another week.


  • Registered Users Posts: 516 ✭✭✭pabloh999


    Would anyone know which bank has the best interest rates?
    Which type of loan would be the most sensible, fixed or variable etc


  • Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    dove2011 wrote: »
    Hi all,
    This is a very informative thread and has provided me with an amount of information. I have applied to AIB for a mortgage for E96,000, I have the 8% deposit saved with AIB which has accumlated of 3 years of savings based on E250 per month. I put an offer on a house last monday with the view of been granted a mortgage which they accepted. The vendor is looking for a quick sale. I have till next Friday to confirm if I am granted a mortgage.
    I am in full time employment with a salary of E30k, non dependants and first time buyer. The mortgage repayments will be less than what I save and rent per month; would you believe I would get a mortgage? How long do you think the process will take? Will the EA accept the letter in principle

    I originally wanted to go with a broker but I had to ring few times to get an appointment after providing them with full details.

    Any advice would be greatly appreciated.

    Hi Dove2011,
    Your salary of €30k will be sufficient to qualify you to borrow €96k (providing your not 50 yrs old or something like that!). When did you apply to AIB? If your rent & savings combined are a couple of hundred euro per month over the proposed repayment and you have been consistently saving/paying rent for over 6-8 months with evidence of same you should have no difficulty obtaining approval. I would be inclined to tell the EA next Fri that you have approval (even if it hasn't come through yet) and that you will arrange to pay the booking deposit the following week once you organise a solicitor and that the valuer will be in touch in due course. This will keep the EA happy and buy you some time until the approval comes through. Your booking deposit is fully refundable in any case. If for any reason your application was declined you can always just say you changed your mind about buying the property. As to how long it will take will depend on when your application was submitted and what level of documentation went it.

    Regarding you trying to contact a broker it's unforgiveable in this market that they wouldn't return your call.

    If you've any queries let me know...


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  • Registered Users Posts: 59 ✭✭Sonya.Max


    Hi!
    Looking for some information about buying house with cash.
    About a month ago myself and husband placed an offer on a house, which was accepted after 3 weeks. 2 weeks ago we paid deposit to EA and contacted solicitor, she took some info and said she will contact us when needed.
    How long it usually takes to complete the sale?
    I know a lot depends on solicitor..


  • Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    Sonya.Max wrote: »
    Hi!
    Looking for some information about buying house with cash.
    About a month ago myself and husband placed an offer on a house, which was accepted after 3 weeks. 2 weeks ago we paid deposit to EA and contacted solicitor, she took some info and said she will contact us when needed.
    How long it usually takes to complete the sale?
    I know a lot depends on solicitor..

    Hi Sonya, if you are buying for cash i.e. without a mortgage, then the length of time it will take will depend solely on the solicitors. At this stage you will have given the EA your solicitors details. Your solicitor is now awaiting the contracts from the vendors solicitor. How long that will take will depend on how organised the seller is i.e. if they told their solicitor they were intending to sell the property the solicitor may have the Title Deeds from the owners Bank which will allow them to draw up contracts to send on to your solicitor. In a lot of cases it's not until the vendor accepts an offer that they tell their solicitor they are selling and at that stage the solicitor has to get a signed authority from their client to contact the owners lender to track down the title deeds... so depending on which scenario your seller is in this may take a few weeks or not. Then it will be a case of whether your solicitor is satisfied with the contracts once they receive them and if they have any queries to raise with the owners solicitor. It's only when your solicitor is happy with the contracts and title will they get you in to sign and a closing date is then agreed. Typical timeframe is 6-8 weeks but this can be done quicker or take an awful lot longer depending on the above.. I hope this helps but unfortunately it's a bit of a how long is a piece of string question and hard to put a definitive timeframe on it. When your solicitor receives the contracts it'll contain a provisional closing which is the timeframe the seller is hoping to work off and wants you to be in a position to close on that date. The closing date specified in the contracts is only for guideline purposes but should give you an indication of how quickly/slowly the vendor wants to move on this.


  • Registered Users Posts: 338 ✭✭dove2011


    Thank you so much for your insite Killer1 & MMC2010.
    I applied to AIB last Monday but getting all the documentation it was signed off on wednesday, so Dublin should have it by Thursday. The mortgage coordinator informed me to call this Thursday..... I will take your advice Killer1 and inform the EA I was granted. If I want to provide a booking deposit; can I take monies out of the 8% I have saved??? Ya i will be going for a 32 year mortgage. I really can't see why AIB would turn me down as my credit history has been good but who knows.... Finger crossed and I will keep you informed. Yes very disappointed with my local broker... Killarney is not that big of a town so can't understand why they were so busy...


  • Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    dove2011 wrote: »
    Thank you so much for your insite Killer1 & MMC2010.
    I applied to AIB last Monday but getting all the documentation it was signed off on wednesday, so Dublin should have it by Thursday. The mortgage coordinator informed me to call this Thursday..... I will take your advice Killer1 and inform the EA I was granted. If I want to provide a booking deposit; can I take monies out of the 8% I have saved??? Ya i will be going for a 32 year mortgage. I really can't see why AIB would turn me down as my credit history has been good but who knows.... Finger crossed and I will keep you informed. Yes very disappointed with my local broker... Killarney is not that big of a town so can't understand why they were so busy...

    Yep, the booking deposit comes out of your 8%...Best of luck!


  • Registered Users Posts: 6 AquaDaisy


    Hi all you house buying geniuses :)

    We are currently Sale agreed and have had both the structural survey and valuation survey done with, thankfully, no major issues.

    There was one item on the Survey report however that I'm a bit confused about. The surveyor has recommended that the gas boiler is serviced 'prior to exchange of contracts'. Is the implication here that the vendor should service the boiler? If so, should they pay for it?? Presumably we cant arrange work on something that is not yet ours...

    Anyone done this before or know what the normal course of action is?

    Thanks a million in advance


  • Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    AquaDaisy wrote: »
    Hi all you house buying geniuses :)

    We are currently Sale agreed and have had both the structural survey and valuation survey done with, thankfully, no major issues.

    There was one item on the Survey report however that I'm a bit confused about. The surveyor has recommended that the gas boiler is serviced 'prior to exchange of contracts'. Is the implication here that the vendor should service the boiler? If so, should they pay for it?? Presumably we cant arrange work on something that is not yet ours...

    Anyone done this before or know what the normal course of action is?

    Thanks a million in advance

    That's a standard recommendation in all structural surveys. You can ask your solicitor to request a service history of the boiler from the vendors solicitor to ensure it was serviced regularly. Alternatively you can ask them to have it serviced prior to completing the purchase which they may or may not agree to and then you decide whether or not you proceed. As I said it's standard on all surveys so up to you how you proceed. Sometimes the seller will be willing to have it serviced other times they just say no and you do it after you move in. Not a deal breaker but you can arrange to access the property before you close to ensure it's working properly and bring someone with you to check the system.


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  • Registered Users Posts: 6 AquaDaisy


    killers1 wrote: »
    That's a standard recommendation in all structural surveys. You can ask your solicitor to request a service history of the boiler from the vendors solicitor to ensure it was serviced regularly. Alternatively you can ask them to have it serviced prior to completing the purchase which they may or may not agree to and then you decide whether or not you proceed. As I said it's standard on all surveys so up to you how you proceed. Sometimes the seller will be willing to have it serviced other times they just say no and you do it after you move in. Not a deal breaker but you can arrange to access the property before you close to ensure it's working properly and bring someone with you to check the system.


    You're a star, thank you :)


  • Registered Users, Registered Users 2 Posts: 12,651 ✭✭✭✭TheDriver


    It was the buyers bank process that took the bulk of the time in my case and don't forget the minute you sign, you have to wait a few weeks (which is agreed before signing) for the seller to move out.


  • Registered Users Posts: 491 ✭✭MrThrifty


    Don't mean to gate-crashing but I'm buying a house myself at the mo and am wondering how long a mortgage typically takes to be drawn down in the case of AIB. Is it still 1 to 2 weeks or longer now perhaps because of extra checks etc?


  • Registered Users Posts: 355 ✭✭nemo32


    MrThrifty wrote: »
    Don't mean to gate-crashing but I'm buying a house myself at the mo and am wondering how long a mortgage typically takes to be drawn down in the case of AIB. Is it still 1 to 2 weeks or longer now perhaps because of extra checks etc?

    Do you mean to get approval or when you have signed your letter of offer and all other documents have been submitted to the bank after the contracts are signed?


  • Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    MrThrifty wrote: »
    Don't mean to gate-crashing but I'm buying a house myself at the mo and am wondering how long a mortgage typically takes to be drawn down in the case of AIB. Is it still 1 to 2 weeks or longer now perhaps because of extra checks etc?

    The length of time from what point do you want to know? From application? from loan offer? from all items being sent in that satisfy the loan offer conditions?


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