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

GingerLily

GaGa21 wrote: »

It was suggested I repay for a better application but I told them to leave it as is, with a note to explain circumstances and if they refuse based on that, will just go elsewhere.

Have preapproval with other banks but they are rejecting the house based on location. Thought applying with local bank would work out better but then it brought this back to haunt me!

Morally, you should probably back, practically though, what guarantees do you have that you'll be approved if you pay back?

Proceed with caution

fungie

Can anybody recommend a solicitor in north Dublin or city centre (currently in Clontarf)? We rang a few but were getting quotes of about 2000 plus vat.

limnam

fungie wrote: »

Can anybody recommend a solicitor in north Dublin or city centre (currently in Clontarf)? We rang a few but were getting quotes of about 2000 plus vat.

How much do you expect to pay?

fungie

limnam wrote: »

How much do you expect to pay?

no idea, just looking for a recommendation?

Michellenman

Have a recommendation for one in blanchardstown village of its any use? Flat rate of €2500 all in (incls all fees, professional fee, land registry fee etc but excl stamp duty obvz). Let me know and I’ll pm you. He was excellent with us, I’ve a few friends using him now too and have nothing but good to say.

Interested Observer

CIP4 wrote: »

I am hoping to make an appointment to go to a bank or two in order to see what kind of size mortgage I would get and get AIP before I go looking at houses.

However just looking on AIB website tonight it gave me the option to apply online so I did filled out all details and it gave me AIP for X amount. How accurate is this system as in could going to a branch tell a different story as to what I would get ? Currently got to the stage online where I would need to start uploading proof of savings, salary etc. when applying for a mortgage in a branch and to get an AIP letter from the bank do they require all them documents or is that only at a later stage ? Also would an auctioneer / seller consider AIP letter to be good enough or what is the next level to this ?

That AIP you get from the website isn't worth anything, personally I'd go into the bank and talk to a person rather than doing it all online. Get underwritten AIP before bidding on a house.

You can borrow your to 3.5x your gross salary. If you've a partner you're buying with it's 3.5x your combined salaries. They might take into account overtime and bonuses but they might not so I've just been working on the assumption they won't take my bonus into account. If you're a first time buyer you need a 10% deposit.

So for example if the property is 300k then you'd need total gross salary of (300k * 0.9)/3.5 = 77.15k.

fungie

Michellenman wrote: »

Have a recommendation for one in blanchardstown village of its any use? Flat rate of €2500 all in (incls all fees, professional fee, land registry fee etc but excl stamp duty obvz). Let me know and I’ll pm you. He was excellent with us, I’ve a few friends using him now too and have nothing but good to say.

yes, can you pm me? Thanks.

hanaimai

hanaimai wrote: »

Yea I had some medical issues years ago that unfortunately the insurance companies have all looked for evidence of. Almost a month going through the process now and still not sorted. Only good thing was I suspected there would be issues so I started looking the minute we put a deposit down. Still very annoying though.

Well after 6 weeks of stress and worry, I finally got the insurance! It's loaded, but less so than I was expecting, and I'm just thrilled to have it DONE and that I don't have to go looking for a waiver!

GingerLily

hanaimai wrote: »

Well after 6 weeks of stress and worry, I finally got the insurance! It's loaded, but less so than I was expecting, and I'm just thrilled to have it DONE and that I don't have to go looking for a waiver!

That was definitely the worst part of the application process for us

hanaimai

GingerLily wrote: »

That was definitely the worst part of the application process for us

Agreed! I had to track down doctors and letters from more than 10 years ago, it was just crazy. Getting the mortgage approved was a walk in the park in comparison! Hopefully it's all smooth sailing from here...

Michellenman

fungie wrote: »

yes, can you pm me? Thanks.

Sent you a PM there

ArtyC

Anyone know what a deed of detachment is ? I'm fed up of solicitor waffle emails now . How long do they take ? Google is so confusing on this

Liam McPoyle

Hiya.

Prolly been asked loads but we have just gone sale agreed on a property (not a new build), what do we need to do next.

Vendors agent is going to send us through the bank details so we can arrange paying the booking deposit.

We need to arrange a survey.

We have to advise our bank and solicitor.

What else is there at this point?

TheShow

ArtyC wrote: »

Anyone know what a deed of detachment is ?

Does he mean Deed of Waiver? is there a gift or contribution from a third party?

Glen_Quagmire

When you get the all clear from a bank for the mortgage on a new build, can you sign contracts with the builders solicitor straight away or do you need to wait until you get the life insurance and home insurance arranged first?

awec

Glen_Quagmire wrote: »

When you get the all clear from a bank for the mortgage on a new build, can you sign contracts with the builders solicitor straight away or do you need to wait until you get the life insurance and home insurance arranged first?

You can sign straight away.

Rfrip

hanaimai wrote: »

Well after 6 weeks of stress and worry, I finally got the insurance! It's loaded, but less so than I was expecting, and I'm just thrilled to have it DONE and that I don't have to go looking for a waiver!

Congrats...similar here just closed it out last week. So so stressful!

chrismon

Hi all, I'm applying for AIP with EBS, have all the documents, filling out the form which is asking for about my solicitor details and the house details.
Im in the process of finding a solicitor and have no idea of a house yet.
Do I need both for AIP?

Glen_Quagmire

chrismon wrote:

Hi all, I'm applying for AIP with EBS, have all the documents, filling out the form which is asking for about my solicitor details and the house details. Im in the process of finding a solicitor and have no idea of a house yet. Do I need both for AIP?

No you shouldn't need either for AIP

Glen_Quagmire

Are there any banks who are typically faster than others in giving out mortgage approval?

z0oT

Glen_Quagmire wrote: »

Are there any banks who are typically faster than others in giving out mortgage approval?

It took us a single day to get AIP with BOI. It was about 3-4 days to get the formal loan offer letter in the post. I don't know if that's faster than other banks or not, but I thought it was pretty quick.


We got contracts a month ago, we're still waiting for the builder's solicitor to address our solicitors concerns before we sign.

Bargain_Hound

BOI (2 days) and PTSB (1day) very quick for us, although I put a lot of that down to being prepared and knowing exactly what to have at hand for the mortgage advisors in branch. They went through everything with us in detail before even submitting to underwriters for approval thus requiring no back and forward questions between the underwriters and the branch.

D3V!L

We're hitting a milestone with our mortgage deposit savings soon so its all looking a lot more realistic we can buy in the new year. On the flip side there are less and less houses in Dublin under our budget.

Even though we'd be good to start "shopping in Jan 2019" we've both agreed to wait until March or April to see what happens with Brexit.

Liam McPoyle

Anyone recommend a surveyor via pm please?

Contact details and rough idea of pricing would be great.

coffee_cake

Gavin shels wrote: »

Cheers guys!

Also another quick one - with anyone's experience has it benefited them being legally married when getting a mortgage? We're currently engaged but if it meant a Registry Office trip would make things easier in a year sign me up House first, then wedding is the plan :pac:

I think there is a difference in terms of if things go wrong, tenants in common vs joint tenants. we expect to do a legal doc on it, friends who bought before marrying did also

Bawnmore

Business Cat wrote: »

Anyone recommend a surveyor via pm please?

Contact details and rough idea of pricing would be great.

Might be easier for people to advise based on location. I have a recommendation for Galway if you need it. We haven't used the engineer yet, but have spoken with 4 separate people who have who were all very impressed.

Kingp35

Bawnmore wrote: »

Might be easier for people to advise based on location. I have a recommendation for Galway if you need it. We haven't used the engineer yet, but have spoken with 4 separate people who have who were all very impressed.

Could you send me on the details of the engineer Bawnmore, not quite at that stage yet but I'm buying in Galway so it would be good to have the contact details of someone. Cheers

Liam McPoyle

Bawnmore wrote: »

Might be easier for people to advise based on location. I have a recommendation for Galway if you need it. We haven't used the engineer yet, but have spoken with 4 separate people who have who were all very impressed.

You are of course correct and I'm clearly an idiot. Property is in Naas.

AppleBottle

Glen_Quagmire wrote: »

Are there any banks who are typically faster than others in giving out mortgage approval?

We got AIP on the day we met AIB. Full credit approval within a week of that when we got all the documents submitted. It was done online using an online hub to submit documents and was very efficient.

Kingp35

I have a question that hopefully I'll explain correctly.

Is the LTV limit strictly applied by banks in that can you be given a mortgage for more than 90% of the value of the property as long as you still meet the 10% deposit requirements and the mortgage is under the LTI limits? Basically myself and my wife have a 10% deposit saved for a house but we would have no money left to furnish the house. We can currently get a mortgage of €245,000 under the LTI rules. For example if we bough a house for €255,000 could we still get a mortgage for the lets say €235,000 as long as we have the 10% deposit which would thus give us some extra money to to furnish the house, pay stamp duty etc.

I suspect that we can't but I can't find a clear answer on this.