Currently buying/selling a house? How is it going? READ MOD NOTE POST #1

kb70

https://www.boards.ie/discussion/comment/123614723#Comment_123614723

Another Brock DeLappe low cost special. Madness however for Inchicore - at nearly 10k per sqm it's surpassing Ballsbridge pricing.

camz09

Question: My AIP has 148,500 mortgage on an estimated 200,000 purchase value property. What happens if I find a property over the 200k, say 250k, can I just show a savings of 50k together (through bank statement for example) with AIP be enough? Or is it the difference between 250k and my aip of 148500 = 101,500 savings/gift proof of funds?

frank730

https://www.boards.ie/discussion/comment/123615692#Comment_123615692

if the asking price is 250k and you only have proof for 200k, the vendor might not allow you to bid as you can't afford it

o1s1n

https://www.boards.ie/discussion/comment/123615692#Comment_123615692

Do you mean when you show the estate agent your AIP, will they let you bid if it only shows 148k on the AIP?

Never, ever let the estate agent know how much you AIP is for.

They'll ask for a copy of it, redact the amount. It's the equivalent of going into a poker game with your cards facing the wrong way.

ec18

https://www.boards.ie/discussion/comment/123615692#Comment_123615692

our broker gave us a letter as proof of funds saying that we had the funds to cover the amount.

it was essentially something like, as the broker acting for MR Camz09 I can confirm that they have the necessary funds available for that house that costs 250K

(some people I know had something similar from their solicitor but I don't know how much of a thing that is )

camz09

Mortgage protection question

Hi, so I am sale agreed on a property and I'm at a stage now with my mortgage broker discussing mortgage protection and insurance with me as part of the process. I went online and for quotes from the likes of lowquotes/hello.ie that are around 12 euro per month, and I believe are mostly from Royal London (mortgage protection, terminal illness cover,helping hand benefit, etc)

When I got in touch with my mortgage broker he went through an application with me which I believe is with Irish Life OnePlan, I can see the MP was about 15/m but he also added specified illness cover which totals my monthly cost to 50 euros (mp + specified illness cover). Does this sound legit? Or do I have other options, with much lower price? Any experience you can share getting mortgage protection and insurance while securing your mortgage? Please help!

o1s1n

https://www.boards.ie/discussion/comment/123647651#Comment_123647651

I remember years ago with my first mortgage broker, to use his service you'd have to go with the mortgage protection offer of his choice. I can't remember who it was or for how much, but he was definitely getting some sort of comission from it.

On my current spot we pay Royal London €34 a month. Also through a broker but he seemed more set on just getting us the cheapest deal.