Saving/Applying for a mortgage 2015/16/17/18/19

Jake2

ad1234 wrote: »

Has anyone here used a bonus from work towards part of a deposit? We asked work not to pay it it yet, sort of like a place to save it, and to write the check directly to EA/solicitor at the time it's needed. Will this be tax able and would the bank mind or need to see it in our account first when applying for mortgage approval?

You will definitely need it in your own account to get mortgage approval they will want to see evidence of your deposit saved I doubt saying its a bonus and your work will pay it to your solicitor will fly with them. They will look to see you have deposit saved plus some extra around 5000 in order to get approval. They might give your approval with condition on when you go to draw down that you have evidence of that savings at this point but if I were you I'd just put it in savings now

Bananaleaf

Does it matter if estate agent knows how much you were approved for after you've gone sale agreed? Sending in AIP letter with the details on it, would rather they were blacked out, but no way of doing it as scan is a PDF and have no current access to the scanner to rescan

Thanks

The_Conductor

Bananaleaf wrote: »

Does it matter if estate agent knows how much you were approved for after you've gone sale agreed? Sending in AIP letter with the details on it, would rather they were blacked out, but no way of doing it as scan is a PDF and have no current access to the scanner to rescan

Thanks

If you've already gone sale agreed- its not so much an issue- its more if you're bidding- you don't want the estate agent to know what your limit is.

I wouldn't be thrilled sending in the PDF as is- however, its not the end of the world.

If your offer had not been fully accepted- I'd not give them the unedited PDF under any circumstance.

Cuddlesworth

Bidding doesn't stop until the contracts are signed by both partys.

Monife

Bananaleaf wrote: »

Does it matter if estate agent knows how much you were approved for after you've gone sale agreed? Sending in AIP letter with the details on it, would rather they were blacked out, but no way of doing it as scan is a PDF and have no current access to the scanner to rescan

Thanks

Print it out, use black permanent marker to black it out and go to an internet cafe and scan it again.

TT rainbows

Cuddlesworth wrote: »

Bidding doesn't stop until the contracts are signed by both partys.

If you have gone sale agreed it would seem unfair for the EA to keep taking in more bids. Fair enough if you have made an offer and vendor has not replied. But if he agrees to your bid and then EA continues to take bids seems unethical.

benjamin d

Bananaleaf wrote: »

Does it matter if estate agent knows how much you were approved for after you've gone sale agreed? Sending in AIP letter with the details on it, would rather they were blacked out, but no way of doing it as scan is a PDF and have no current access to the scanner to rescan

Thanks

In the Edit tab select Take a Screenshot (or something to that effect - maybe it's snapshot) and drag your cursor over the entire document. Then Ctrl+V in paint and voila, do your redacting. If they need a pdf just paste your image in a document and save as pdf.

Bananaleaf

Thanks guys for the help. What I actually did in the end was converted the PDF to a word doc, then covered the bits I needed, then re-saved it as a PDF again. Was really easy to do, I just googled "Convert PDF to word doc"

Thanks for the advice - glad I asked now

fg1406

Good god, is buying a house in Ireland designed to be the most punishing experience ever? Our solicitor got our contracts this week after 5 months waiting from vendors solicitor. She has tried to contact him 5-6 times re amendments and he doesn’t answer the phone, or Is unavailable or simply ignores correspondence. We are now 22 weeks since sale agreed. I was very excited about finally getting contracts last week...but no...our vendors had to use the most incompetent, unreliable solicitor in the land.

ELM327

Received confirmation of sale agreed myself earlier in the week.
Finally after months of various setbacks it all seems to be going on in the right step.
Awaiting full approval from the bank, letters were sent to the vendors solicitor.

things are finally happening! I thought I'd be renting ad infinitum!

Extraplus

For those who have had a long delay between sale agreed and closing - did the bank look for updated salary certs etc on draw down, or were these just sought when full approval was issued?

I'm hoping to go sale agreed soon but may be changing roles in the next few months, and wondering if this will cause a problem if there is a delay in closing.

Thanks.

deathtocaptcha

Out of curiosity, what's the fastest way to buy a house if you can buy in cash? How fast theoretically can it be done?

For example could it be done within a week if all parties wanted it to happen that quickly?

fg1406

Extraplus wrote: »

For those who have had a long delay between sale agreed and closing - did the bank look for updated salary certs etc on draw down, or were these just sought when full approval was issued?

I'm hoping to go sale agreed soon but may be changing roles in the next few months, and wondering if this will cause a problem if there is a delay in closing.

Thanks.

We will have to get updated salary Certs, bank statements and supply receipts for furniture we have bought, if we don’t close by 31 December which is looking increasingly unlikely that we will.

closifer

deathtocaptcha wrote:

Out of curiosity, what's the fastest way to buy a house if you can buy in cash? How fast theoretically can it be done?

deathtocaptcha wrote:

For example could it be done within a week if all parties wanted it to happen that quickly?

We are 1st time buyers who took out a mortgage . We put in a bid on Aug 2nd and got the keys on Sep 25th. Think that was a pretty quick turnaround!

keane2097

Once you have the mortgage approval in principal arranged, is it necessary to keep making the same set of regular contributions to my savings account ahead of potential draw down? And/or necessary to keep the money in the savings account?

I'm inclined to put the money from my savings account elsewhere in the meantime but want to make sure this won't be problematic in terms of the draw down, proof of ability to make stressed repayments etc.

ELM327

keane2097 wrote: »

Once you have the mortgage approval in principal arranged, is it necessary to keep making the same set of regular contributions to my savings account ahead of potential draw down? And/or necessary to keep the money in the savings account?

I'm inclined to put the money from my savings account elsewhere in the meantime but want to make sure this won't be problematic in terms of the draw down, proof of ability to make stressed repayments etc.

I woudlnt move the money from the savings account if at all possible
I plan to keep saving but a smaller amount (down from 1k/month to 250/month)

Cuddlesworth

keane2097 wrote: »

Once you have the mortgage approval in principal arranged, is it necessary to keep making the same set of regular contributions to my savings account ahead of potential draw down? And/or necessary to keep the money in the savings account?

I'm inclined to put the money from my savings account elsewhere in the meantime but want to make sure this won't be problematic in terms of the draw down, proof of ability to make stressed repayments etc.

We were asked for updated statements for the loan offer on a specific house, so I would so yes, keep the same savings history. Plus the extra cash comes in handy for moving and "new house" costs.

Extraplus

Cuddlesworth wrote: »

We were asked for updated statements for the loan offer on a specific house, so I would so yes, keep the same savings history. Plus the extra cash comes in handy for moving and "new house" costs.

We're you asked for updated statements etc from drawdown?

okeydokeys22

Quick question. We are sale agreed and contracts ready to sign with closing date 4 weeks after getting keys. Can we hold off till after Xmas to close, start of January preferably? Or will that cause us more problems with the bank - new year requiring new p60, payslips etc

Cuddlesworth

Extraplus wrote: »

We're you asked for updated statements etc from drawdown?

I'd have to draw down first to know but it doesn't seem likely as we have the formal loan offer at this point.

Confused ftb

Finally at draw down stage after months of pure torture, praying everything goes according to plan, would there be any reason a bank would refuse draw down? Also how long does it take?

okeydokeys22

Confused ftb wrote: »

Finally at draw down stage after months of pure torture, praying everything goes according to plan, would there be any reason a bank would refuse draw down? Also how long does it take?

Would also love to know how long it takes.

Can I ask how long it took from your official application to drawdown? Also, when does your repayments begin? Just need to prepare

fjon

Looking for some advice on my situation. Married, intend to apply for a mortgage in early 2018.
About 60-70% of my partner's mortgage goes on childcare.
I guess the bank will only take into account the 40-30% of remaining salary?
Is there anything we should do in our situation before applying for the mortgage?

zedhead

Does anyone else who has closed a purchase this year know how to go about sorting the LPT for 2018. I tried to do this on the revenue website but its asking for a Unique Property ID and secure PIN, but we don't have either of those things. Feeling a little lost now and don't want to miss any deadline.

Bananaleaf

Our bank is so incompetent. I'm so frustrated. They have lost some documents and now they have decided that others need to be replaced. There is more to this story that is even more infuriating, but that's for another day when I have the mental patience to deal with it.

As a result of this, the loan offer has not yet been sent to us or solicitor.

Can I ask is there anyone who would know - is it possible that the solicitor could have received contracts in the meantime and could be going through them? Or do they not even request/receive contracts until loan offer is issued?

okeydokeys22

Bananaleaf wrote: »

Our bank is so incompetent. I'm so frustrated. They have lost some documents and now they have decided that others need to be replaced. There is more to this story that is even more infuriating, but that's for another day when I have the mental patience to deal with it.

As a result of this, the loan offer has not yet been sent to us or solicitor.

Can I ask is there anyone who would know - is it possible that the solicitor could have received contracts in the meantime and could be going through them? Or do they not even request/receive contracts until loan offer is issued?

Yes our contracts are waiting in the solicitors office to be signed, which cannot be done without mortgage approval formally completed.
The pressure from the vendor is becoming suffocating. We're doing all we can but banks keep coming back looking for updated documents and bank statements all the time. Driving me insane.

Bananaleaf

okeydokeys22 wrote: »

Yes our contracts are waiting in the solicitors office to be signed, which cannot be done without mortgage approval formally completed.
The pressure from the vendor is becoming suffocating. We're doing all we can but banks keep coming back looking for updated documents and bank statements all the time. Driving me insane.

I cannot believe how incompetent these banks are. Absolutely EVERYONE else that I have been dealing with has been efficient, did what they said.

I have sent in two salary certs, both signed by the same person (same employer) one was rejected because it was an assistant hr manager and not 'the hr manager' :rolleyes: and the other wasn't rejected (despite also being signed by the assistant hr manager)

This decision was made on 6th November and they have only informed me now. I should add that between 6th and now I had contacted the bank FOUR times to double check all was as it should have been. I'm not sure I've any patience left.

At least it's good to know that it's possible the solicitor has been moving forward as best they can.

I will phone them tomorrow morning to double-check where they are at and I will tell them where we are (ie: NOWHERE!)

I hope you get sorted soon.

Bananaleaf

zedhead wrote: »

Does anyone else who has closed a purchase this year know how to go about sorting the LPT for 2018. I tried to do this on the revenue website but its asking for a Unique Property ID and secure PIN, but we don't have either of those things. Feeling a little lost now and don't want to miss any deadline.

Hi there

We were told that those who paid in 2017 paid up for 2018 also. So, it should be paid and you will reimburse the vendor for 2018.

Vetch

Bananaleaf wrote: »

Hi there

We were told that those who paid in 2017 paid up for 2018 also. So, it should be paid and you will reimburse the vendor for 2018.

Open to correction, but I think whoever owned the house on 1 November 2017 pays for 2018. Person I'm buying from has paid for 2018 and I'll reimburse her from whenever the sale closes.

derekbro

zedhead wrote: »

Does anyone else who has closed a purchase this year know how to go about sorting the LPT for 2018. I tried to do this on the revenue website but its asking for a Unique Property ID and secure PIN, but we don't have either of those things. Feeling a little lost now and don't want to miss any deadline.

On the revenue site there is something about requesting a pin/forgotten pin, They will send it to your registered address on revenue( i changed it to our new address). I closed in July and did this in September and I got documents in the post last week for the LPT.