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First time buyer

  • 18-04-2011 10:45pm
    #1
    Moneytalks
    Closed Accounts Posts: 27 ✭Moneytalks


    Hi,
    I'm new to this and don't know if I'm in the right place
    I'm looking to buy a house as a holiday home it will be the first house I have bought I am getting the deposit for it through my credit union I have never got a loan from them before and I am wondering how much I need to have in shares in order to borrow 15,000 and what I will actually need to do to buy a house to the value of 150,000 how much income do I need to have and is there any other fees I need to know about.
    Thanks


Comments

  • #2
    strmin
    Registered Users, Registered Users 2 Posts: 315 ✭✭strmin


    Moneytalks wrote: »
    Hi,
    I'm new to this and don't know if I'm in the right place
    I'm looking to buy a house as a holiday home it will be the first house I have bought I am getting the deposit for it through my credit union I have never got a loan from them before and I am wondering how much I need to have in shares in order to borrow 15,000 and what I will actually need to do to buy a house to the value of 150,000 how much income do I need to have and is there any other fees I need to know about.
    Thanks

    This is the craziest post I've read.

    I'd say ,to buy a holiday house for 150,000 you need to own fully paid off house you living in and at least 300,000 in savings. Then it would make some sense.


  • #3
    Ledger Shy Steak
    Posts: 0 CMod ✭✭✭✭ Ledger Shy Steak


    Moneytalks wrote: »
    Hi,
    I'm new to this and don't know if I'm in the right place
    I'm looking to buy a house as a holiday home it will be the first house I have bought I am getting the deposit for it through my credit union I have never got a loan from them before and I am wondering how much I need to have in shares in order to borrow 15,000 and what I will actually need to do to buy a house to the value of 150,000 how much income do I need to have and is there any other fees I need to know about.
    Thanks

    You want a loan for a deposit? On a holiday home?


  • #4
    Moneytalks
    Closed Accounts Posts: 27 ✭Moneytalks


    Fantastic advice thanks.


  • #5
    dudara
    Registered Users, Registered Users 2 Posts: 33,518 ✭✭✭✭dudara


    @xertpo

    Calling other users "idiots" or "dicks" doesn't help your advice sound better. Please be polite to other posters and take the time to read the Forum Charter.

    dudara


  • #6
    xertpo
    Registered Users, Registered Users 2 Posts: 330 ✭✭xertpo


    Point taken Dudara.


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  • #7
    ixus
    Registered Users, Registered Users 2 Posts: 2,435 ✭✭✭ixus


    I'm locking this thread. Go to Accomodation and Property if you want to discuss property.



    Bluewolf is correct though. If you don't even have the deposit for a loan, there is no way in hell you should be looking to take out a loan from the credit union to do this.

    This is FRAUD, you would be defrauding the bank by having them think you had the necessary funds to get a mortgage.

    It's the reason the economy is the way it is now.

    Unreal!


This discussion has been closed.
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