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

hawkeye_bmr

Just gone sale agreed!!

Utah

hawkeye_bmr wrote: »

Just gone sale agreed!!

Congratulations! Very quick!

SarahMollie

Well done!

Slight note of caution - don't get emotionally invested until the ink is try on your contracts and you have the keys in hand - you've still a few weeks/months to go yet!

Santy2015

Builder informed me today through the estate agent that he wouldn't let my engineer into the house as they had a previous falling out. Survey was to be done tomorrow, I've appointed another engineer from another reccommedation from an owner in the same estate so this should work out, this engineer had no falling out with the developer. Jaysus and I thought everything was going smoothly haha

Sleepy

angeldelight wrote: »

All good?

Will be a few days before I get the report. I'm hoping that the fact I didn't get a phone call to tell me the house is falling in on itself is a good thing!

Stheno

noanoa wrote: »

I know we are lucky.

The only thing is I'm self employed which is only fairly recent, thats part I'm worried about and also saving till the month of the wedding taking most out then starting saving again.

If it's less than a year and at least one full set of tax compliant accounts, then being self employed will be a barrier for you.

noanoa

It is less then a year alright only since March so very new.

Iv more so taken over a business then a start up. Its been trading for 7 years with profit not sure if that makes a difference or not?

Irish_rat

I've signed the contracts and handed over the 10% lately, can't wait!

It's a new build so will be waiting two more months.

Just wondering can the approval be extended very easily by the bank? The completion date may run over the 6 month deadline.

Also guys the money going to be pumped in is unreal especially with a new build. New fridge, sofa, beds, curtains, lights etc. Plus the fees to close it out too.

Santy2015

Has anyone any experience with the 2% cash back offer from BOI? Is it taxable?

SarahMollie

I don't think that you would have a problem getting your approval extended, provided your circumstances have not changed (ie, job, number of dependents etc.)

Does your new build not include a finished kitchen and white goods?

SarahMollie

Santy2015 wrote: »

Has anyone any experience with the 2% cash back offer from BOI? Is it taxable?

I got it last year. Can take up to 9 weeks to come through, but i got it in about 4 i think.

Never remotely occurred to me that it would be taxable.... its not really income, its a cash back offer on buying something (a loan).

Open to correction on that one.

angeldelight

You know the initial 5k or whatever paid to the estate agent? Is that refundable if something changes?

SarahMollie

angeldelight wrote: »

You know the initial 5k or whatever paid to the estate agent? Is that refundable if something changes?

Yes, your deposit is always refundable, no matter why a sale might fall through.

Professional fees however are not, ie if your solicitor/surveyor/valuer etc has already done their work and you/vendor pull out, then you still have to pay for services rendered.

PhoenixParker

angeldelight wrote: »

You know the initial 5k or whatever paid to the estate agent? Is that refundable if something changes?

Yes, but include "subject to contract/contract denied" in all correspondence as warned by our solicitor.

Flatzie_poo

PhoenixParker wrote: »

Yes, but include "subject to contract/contract denied" in all correspondence as warned by our solicitor.

No need - the booking deposit is refundable up until you sign the contracts and enter a legally binding agreement.

You're a protected buyer up until signing.

Irish_rat

SarahMollie wrote: »

Does your new build not include a finished kitchen and white goods?

It includes finished kitchen and appliances with that but no refrigerator. Thanks I hope it will be done on time regardless!

hawkeye_bmr

Santy2015 wrote: »

Has anyone any experience with the 2% cash back offer from BOI? Is it taxable?

Did you see the fine print about having to pay it back if you switch mortgage providers within 5 years?

Sleepy

So, surveyor couldn't access the attic. The access hatch is apparently in "the most dangerous location.... [he's] ever see" for one. Right over the stairwell, his ladder was about 2 foot short of the access hatch!

Leaves me rather a lot of unanswered questions about the state of the roof.

Santy2015

hawkeye_bmr wrote: »

Did you see the fine print about having to pay it back if you switch mortgage providers within 5 years?

Yeah I saw that. Just a family member mentioned that they thought that the cash back was taxable, but I've read up and it says nothing in the terms and conditions

Santy2015

Sleepy wrote: »

So, surveyor couldn't access the attic. The access hatch is apparently in "the most dangerous location.... [he's] ever see" for one. Right over the stairwell, his ladder was about 2 foot short of the access hatch!

Leaves me rather a lot of unanswered questions about the state of the roof.

My engineer did our survey this morning, said report will be ready by tomorrow evening. Seems fast, said there was no major problems just that he had to write down that the kitchen wasn't there, toilets & plumbing not turned on or finished. But that's all to be done as its a new build

PhoenixParker

Flatzie_poo wrote: »

No need - the booking deposit is refundable up until you sign the contracts and enter a legally binding agreement.

You're a protected buyer up until signing.

My solicitor told us that while it's unlikely, the wording in a letter/email describing the particulars of the contract being negotiated could be construed as creating a legally binding contract prior to the actual signing of contracts.

It's a common recommendation.

http://www.halpinsolicitors.ie/index.php/property/

angeldelight

That's a tricky one Sleepy - could be an expensive one to fix...

Apparently another bidder has bid 5k more than us. That's still at 25k below asking and estate agent says seller won't sell below asking anyway. Not sure what our next move should be

Geuze

Santy2015 wrote: »

Has anyone any experience with the 2% cash back offer from BOI? Is it taxable?

As it's not income, I can't see how income tax is applicable.

Alkers

Sleepy, can you explain to the seller and ask how they access the attic. Your surveyor could rent a ladder and do another visit, would probably cost more but not the full amount of another survey

Jentle Grenade

We went sale agreed this morning on a house, €5k over the asking price but still circa €30k less than what we are approved for. Quite a nervy few days all told. We waited nearly two full days for word back from the vendor. Is this usual? It seemed bizarre to me after the previous week of bidding between a few parties. What seemed to go in our favour in the end is that we are not in a chain and the other parties were (according to EA, also my OH happens to work with one of the other bidders which is a bit awkward). Not sure how people do this multiple times Came home from work to a letter from the land lord stating that he's putting his house on the market. Talk about strange timing.

Sorry to hear that your engineer had problems Sleepy, perhaps it can be easily resolved though? Surely the vendor would be eager to help you out in that respect.

fermanagh_man

I've been following the thread for a few months and will be putting a mortgage application in soon

I have read previously about a boards member who is a broker and helped others board members out, I've tried to go back over comments and find his details but no joy after 20mins searching

Was hoping someone could provide me with username or how to contact him?

Thanks

Jentle Grenade

The poster is called killers1. Not used him myself but know a couple who went through him and were delighted with his help.

geez

Hi all we are mortgage approved with boi have put on a bid on a house and we are currently 20k over asking. Can I ask do ye think we are mad is this normal? House is lovely turn key condition. We are not even based anywhere near Dublin but asking asking was a bit low I guess. We are will to keep going to our budget. They have just advertised an opening viewing for Tuesday

Santy2015

geez wrote: »

Hi all we are mortgage approved with boi have put on a bid on a house and we are currently 20k over asking. Can I ask do ye think we are mad is this normal? House is lovely turn key condition. We are not even based anywhere near Dublin but asking asking was a bit low I guess. We are will to keep going to our budget. They have just advertised an opening viewing for Tuesday

Go for what feels right. That's what me and my fiancée did. Sale agreed now with what we thought would be a house we wouldn't go for.

mirrorwall14

We have applied for Approval in principle. Told we will definitely qualify for exemption on deposit and there will be no issues with AIP. Just have to get life insurance fully organised for the other half and we'll be ready to go the whole way