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

Irish_rat

A lot of folk seem to be waiting on Monday for news like myself. Best of luck to everyone that is.

mirrorwall14

Irish_rat wrote: »

A lot of folk seem to be waiting on Monday for news like myself. Best of luck to everyone that is.

You too. It's tough!

mollybird

we managed to pay our deposit on our house on fri after a bit of a hic up from me. i had managed to take hubbie's bank card down to waterford with me so he couldn't pay the deposit on thur but luckily i got it done on fri morning. hoping to email the builders, elec, etc this evening to arrange going to the house on thur to talk some more things over.

loveisdivine

Has anyone else found that all the waiting makes it start to feel kind of not real anymore? I mean when we first went sale agreed we were so excited and thrilled at the fact we were buying a house and we started planning what we could do with it and how to decorate etc. We've only been nearly 5 weeks sale agreed but all he waiting just makes it less exciting now!

I suppose it's like a holiday, you get excited when you book it, then you kinda forget about it until the day gets closer.

Naid23

Hoping we hear back this morning about our offer. Would really hate if this dragged on another few days - dont think i could deal with the not knowing.

mirrorwall14

I've checked my email at least 10 times since 9am waiting to hear back from the bank (the girl dealing with us is back in the office today). So impatient and scared it'll be another kick in the teeth

Sleepy

We've been Sale Agreed since the end of March. Had some delays on our end at the start, finally signed contracts on June 17th and are still waiting to get a closing date from the vendor, we had been hoping to get the keys last Friday but heard Thursday that the vendor needs more time to move their stuff out so it's now looking like it'll be the start of August before we get the keys. We have half the house decorated in our minds at this stage!

mirrorwall14

No progress for us today. Underwriting back for more info. Can't help feeling that the brokers positivity last week was boll*cks. More waiting now

Naid23

Finally heard back from the estate agent and apparently the house the owners are buying needs more work then they thought and so will not be accepting our offer unless we add another 7-10k to it. Estate agent told us that no one has matched/bettered our offer so its very cheeky IMO for them to be asking for more. Time to walk away, House is not worth what they are asking. And another house down the road just came up for 40k less then what they looking for.

Awh Well - onto the next one!

mirrorwall14

Rejected again because we can't get him life insurance. Devastated. She's going back for a lower figure based on my salary alone but I can't handle the hope and I'm just assuming we are never getting a mortgage. I can't stop crying

bleary

That's awful. Could you try a recommended broker , they might be able to help.
Maybe take a breather for a while from it?

I've just been told that the quick sale I promised my vendors may be held up as I need to reapply with everything again. Not panicking yet but give me another day or two I'll hit the whiskey

Utah

Our offer of loan letter was sent out today to the solicitor. I was really excited up until I talked to a colleague in work. He was saying that when he was going through the mortgage process, he got all the approvals and everything no problem and then when they went to draw down, the bank started asking questions about statements and where this money came from etc. According to our mortgage dude we're dealing with, the statements went to the underwriters already - I mean they must have in order to get the loan offer?

@mirrorwall14 - very sorry to hear about your issues, I can't imagine the frustration.

Santy2015

Utah wrote: »

Our offer of loan letter was sent out today to the solicitor. I was really excited up until I talked to a colleague in work. He was saying that when he was going through the mortgage process, he got all the approvals and everything no problem and then when they went to draw down, the bank started asking questions about statements and where this money came from etc. According to our mortgage dude we're dealing with, the statements went to the underwriters already - I mean they must have in order to get the loan offer?

@mirrorwall14 - very sorry to hear about your issues, I can't imagine the frustration.

Ah jaysus, we are just after instructing our solicitor to draw down our mortgage. Hope we don't get any complications!!

whiskeyman

Naid23 wrote: »

Finally heard back from the estate agent and apparently the house the owners are buying needs more work then they thought and so will not be accepting our offer unless we add another 7-10k to it. Estate agent told us that no one has matched/bettered our offer so its very cheeky IMO for them to be asking for more. Time to walk away, House is not worth what they are asking. And another house down the road just came up for 40k less then what they looking for.

Awh Well - onto the next one!

The cheek indeed!
Glad you told them to F off!
That's their problem, and not yours.
If anything, I'd make them very aware that another house is for sale a lot less and you're not sure if you are happy with your current offer should they come crawling back.

Tasden

mirrorwall14 wrote: »

Rejected again because we can't get him life insurance. Devastated. She's going back for a lower figure based on my salary alone but I can't handle the hope and I'm just assuming we are never getting a mortgage. I can't stop crying

Aw I'm so sorry.

mirrorwall14

I think the level of underwriting checks depends on how much you intitally provided? Could be wrong though.

Heads a bit clearer now. It's just so frustrating. If he was single they'd give it to him with a waiver. Because we're married they won't. It's basically back to square one again for us. Keep working on life insurance and hope he eventually gets it. Ultimately our deposit saving is building up anyways it's just in a rising market with rents so high it's horribly frustrating to have the deposit, to have a multiple of the capacity to repay and even to meet the central bank rules but to be denied due to life insurance

Hazydays123

Naid23 wrote: »

Finally heard back from the estate agent and apparently the house the owners are buying needs more work then they thought and so will not be accepting our offer unless we add another 7-10k to it. Estate agent told us that no one has matched/bettered our offer so its very cheeky IMO for them to be asking for more. Time to walk away, House is not worth what they are asking. And another house down the road just came up for 40k less then what they looking for.

Awh Well - onto the next one!

Ha! Good luck to them! When they come crawling back you can offer less than what you were about to give them. It really feels like the vendors hold way too much power in this process.

Hazydays123

Utah wrote: »

Our offer of loan letter was sent out today to the solicitor. I was really excited up until I talked to a colleague in work. He was saying that when he was going through the mortgage process, he got all the approvals and everything no problem and then when they went to draw down, the bank started asking questions about statements and where this money came from etc. According to our mortgage dude we're dealing with, the statements went to the underwriters already - I mean they must have in order to get the loan offer?

What?!!! Why on earth would the bank allow you to go through the expense of engaging a solicitor and surveyor if their loan offer isn't solid? Our application took weeks at the underwriting stage so if they were to pull out at this stage I'd be fuming. They had plenty of time to analyse statements, ask questions, etc.
I'd certainly withdraw all my business from the bank if that were the case.
I'm assuming this is an exception rather than the norm...

SB_Part2

Yeh there's a lad I work with who got his loan offer and now the bank are looking for more information from him. Some banks operate in a very strange way.

Hazydays123

I wonder if it's any particular bank? I know it has been said in the past on this forum that BOI have a more torturous process to get AIP, but once they've approved it, it's fairly certain.

Santy2015

Hazydays123 wrote: »

I wonder if it's any particular bank? I know it has been said in the past on this forum that BOI have a more torturous process to get AIP, but once they've approved it, it's fairly certain.

Yeah BOI were pretty bleeding brutal with us. The amount of stuff we had to give even with us being customers was a lot. Now we had to appeal their first rejection and then went and got approved for a slightly lower amount. In the mean time I've got a pay rise but means nothing now we've our house 90% got just waiting for the keys. The next few days will wreck my head waiting for the drawdown to be complete

Naid23

Hazydays123 wrote: »

Ha! Good luck to them! When they come crawling back you can offer less than what you were about to give them. It really feels like the vendors hold way too much power in this process.

Thats exactly what we are gonna do if they come back. Its ridiculous- 'oh are new house costs more so you have to pay more' yeah good luck with that! EA told us last week that 300k would buy the house and now thats up another 10k- changing the goalposts.

It actually made it easier to walkaway from this house to be honest cause of the shenanigans.

Will be viewing the new house at the weekend.

SB_Part2

Santy2015 wrote: »

Yeah BOI were pretty bleeding brutal with us. The amount of stuff we had to give even with us being customers was a lot. Now we had to appeal their first rejection and then went and got approved for a slightly lower amount. In the mean time I've got a pay rise but means nothing now we've our house 90% got just waiting for the keys. The next few days will wreck my head waiting for the drawdown to be complete

And BOI were the total opposite with me. I had my credit card statements printed off and they said they didn't need them.

Santy2015

SB_Part2 wrote: »

And BOI were the total opposite with me. I had my credit card statements printed off and they said they didn't need them.

I reckon it's because we were that bit younger mid twenties and herself has a car loan that they were a bit more critical. Plus our combined salary wasn't exceptionally high

Rew

SB_Part2 wrote: »

And BOI were the total opposite with me. I had my credit card statements printed off and they said they didn't need them.

Is you CC with BOI? I know AIB doesn't ask for paper copies if they have access internally.

Utah

It's BOI alright. I've been meticulous with paperwork and had every bit prepared and from the outset, they haven't needed to look for anything. Maybe I'm just being paranoid.

House won't be built until September so will just have to wait and see I guess

Santy2015

Utah wrote: »

It's BOI alright. I've been meticulous with paperwork and had every bit prepared and from the outset, they haven't needed to look for anything. Maybe I'm just being paranoid.

House won't be built until September so will just have to wait and see I guess

I'm fully sure it's because we had a loan and not a massive salary 52k between us

SB_Part2

Rew wrote: »

Is you CC with BOI? I know AIB doesn't ask for paper copies if they have access internally.

No my CC is with AIB.

Rackstar

mirrorwall14 wrote: »

I think the level of underwriting checks depends on how much you intitally provided? Could be wrong though.

Heads a bit clearer now. It's just so frustrating. If he was single they'd give it to him with a waiver. Because we're married they won't. It's basically back to square one again for us. Keep working on life insurance and hope he eventually gets it. Ultimately our deposit saving is building up anyways it's just in a rising market with rents so high it's horribly frustrating to have the deposit, to have a multiple of the capacity to repay and even to meet the central bank rules but to be denied due to life insurance

Have you tried these guys? https://www.pulse-insurance.co.uk

Couldn't get cover in Ireland but was able to using them.

Irish_rat

Hazydays123 wrote: »

What?!!! Why on earth would the bank allow you to go through the expense of engaging a solicitor and surveyor if their loan offer isn't solid? Our application took weeks at the underwriting stage so if they were to pull out at this stage I'd be fuming. They had plenty of time to analyse statements, ask questions, etc.
I'd certainly withdraw all my business from the bank if that were the case.
I'm assuming this is an exception rather than the norm...

I hope not either. Drawdown looks like it's possibly going to be tomorrow. I hope I dont have to bring back more payslips and P60's. I'd imagine at this stage they wont. My wage hasnt changed etc..