Saving/Applying for a mortgage 2020-22 Edition

poker2k9

https://www.boards.ie/discussion/comment/120285982#Comment_120285982

You are not alone, I'm also going through many hurdles, from kitchen being delayed (meaning can't seek final valuation), waiting ages for mortgage amendments, developers contractors fitting incorrect furnishings. Race against next mortgage rate increase (whenever that may be) at this point.

This is it

https://www.boards.ie/discussion/comment/120285982#Comment_120285982

I had minor surgery last year and put it down on the mortgage protection application. It had to be checked out by them but it was approved within 24 hours and all good now. I'm sure it depends what you've put down but hopefully you don't have any issues.

poker2k9

For anyone who recently completed drawdown , how does the home insurance cover work? I know I have 10 year homebond, so does that mean I need to take out Home insurance for just contents? Or I still have to do Structure and Content?

BronsonTB

https://www.boards.ie/discussion/comment/120298333#Comment_120298333

You need normal Home insurance (Buildings & contents) for anything that might happen in the future

(Your mortgage provider usually requests a copy too)

(This is completely seperate to homebond)

akelly02

https://www.boards.ie/discussion/comment/120286034#Comment_120286034

its a long stressful road.

good luck!

shawki

Applying for Mortgage soon.

On Revolut, I’ve a small amount of poker account transfers on my USD account.

I will be submitting my EUR and GBP statements which have normal day to spending of €7k over 6 months,

what are the chances they will look for my USD statements when they see a once off €60 being converted to USD on my EUR statement?

tippingpoint

Finally drew down last Wednesday with BOI .. the day after their deadline for the rate increase. Thought we were going to be paying the higher interest rate of 3.2%, but just received a letter showing our interest rate as 2.45%. Delighted to have just made the cut off 😁

Best of luck to everyone still going through the approval process. It can be a long wait but worth it all in the end!

FastFullBack

Starting a self build in May and trying to select who to go for with Mortgage. I previously owned a house so will be a 2nd time buyer to help to buy etc wont apply. Once I have my mortgage I'd probably like to fix it for 3-5 years, till hopefully rates come down again.

Does anyone here know for self builds, where mortgage is drawn down in phases when do the banks allow me to fix my rate.

AIB have told me it's not until the final draw down, so likely to be May 2024 in my case. ESB have said I can fix my rate as soon as I draw down the first part of my mortgage, which is obviously better for me.

Without me having to apply to the other banks does anyone know whats the story with PTSB and BOI? I can't see this info on their websites.

This is it

https://www.boards.ie/discussion/comment/120302064#Comment_120302064

I've no real idea to be honest but is think your chances are good that they won't ask, especially for a small amount

skinny90

https://www.boards.ie/discussion/comment/120303407#Comment_120303407

applied for PTSB and BOI... would have had a few hundred converted to USD thousands converted to GBP due to travels. This wasnt asked from me.

Jemima38

My BOI mortgage application has been with the underwriters since 15th Feb, got the standard 'application has been delayed for another 10 days' email. I know many have been in the same boat,.just wondering how long were you/are still waiting after that email? thanks!

Water2626262

I’ve full mortgage approval now and was previously approved on first home scheme for a new build but I changed my mind on the purchase.

Just viewed another new build, well within the criteria but estate agent said first home scheme can’t be applied. Anyone know why this is? Surely they get paid the same regardless.

poker2k9

https://www.boards.ie/discussion/comment/120312552#Comment_120312552

Does it breach the price cap for the area? If the price cap of FHS for the area is 350k and the house you are buying is 355k then it doesn't qualify for FHS.

See pricing limits: https://www.citizensinformation.ie/en/housing/owning_a_home/help_with_buying_a_home/affordable_housing.html#l8e044

Water2626262

It’s well within the price cap. I was previously approved for higher in the same county. Just curious about it really. Seems like it’s at the sellers discretion.

This is it

Could you ask them why it doesn't apply? You'll only have guesses from here, the agent can tell you the actual reason.

rob316

Makes no sense the developer not accepting it they get paid same regardless. It would be like not accepting help to buy.

Water2626262

https://www.boards.ie/discussion/comment/120313585#Comment_120313585

Fair point. I’d emailed them about the place and told the I’d full mortgage approval and I’d be using the first home scheme but they failed to mention anything to me. I was at the tail end of the viewing when they said they didn’t take it and my own awkwardness prevented me from saying I couldn’t afford the place without it.

jiminho

Hi folks, question for yeah. I have AIP w/ AIB but I’m also trying to get approval with PTSB. PTSB have said they would offer me a mortgage value of 10% more. We started the process of AIP w/ PTSB a few months ago and we’ve been actively bidding on houses based on the amount PTSB said they could offer us. Anyway, we gave them the last of the docs about two weeks ago and they said they have no further questions. The situation is we’re currently high bidder on a house and EA has said to us they’ll accept our offer if they can get through this weekend with no further offers. If that happens, will we be forced to go with AIB or what are the options? We’re going through a broker and they’re terrible with updates/communication and we can only afford the house based on the amount PTSB have offered us.

Mazzy Star

Was chatting to my parents on the phone. They have generously offered to pay my stamp duty as a token. Would them transferring me the 3k directly cause any issues or would it be best to clear it with the bank first?

Bluebird22

https://www.boards.ie/discussion/comment/120267814#Comment_120267814

Do you request the amendment in the portal? Or talk to your mortgage contact at BOI. I’ve requested change of address/rate in the portal a few times but nothing ever seems update?

poker2k9

https://www.boards.ie/discussion/comment/120318301#Comment_120318301

You pay the stamp duty to your solicitor , so you may ask well have them send it to your solicitor instead when he's asking for it.

But yes, if they send you 3k, the bank may ask you what the transfer was for. That said, idk if it's a good or bad thing, if they want to be strict they may ask for written comfirmation it wasn't a loan from your parents and they don't intend for you to pay it back.

dubliner10

https://www.boards.ie/discussion/comment/120318356#Comment_120318356

My mortgage broker is handling all changes so not sure about this. I’d say worth calling your BOI contact if the portal is not updating.

Formosa

https://www.boards.ie/discussion/comment/120315561#Comment_120315561

You'll be grand (assuming PTSB come through for you), I went sale agreed without any approval, it's easy enough to drag things out until the bank side gets finalised.

Notorious93

https://www.boards.ie/discussion/comment/120303407#Comment_120303407

It's once you have done your first drawdown with the bank, AIB are the only ones who won't leave you fix until the last drawdown as far as I know. Puzzling considering they own EBS and you can fix with them from the first drawdown.

AH92

Hi all,

Went sale agreed with a property on probate last week with aip from another bank, Will we be fine to apply with PTSB instead using our broker as I've heard probate can take many months? Aiming to submit all of our paperwork by the end of this week in order to get AIP + loan offer from PTSB instead.

theboringfox

Going to renew my AIP with AIB from 6 months ago. No change to circumstances. Should I be confident of renewal at same amount or has anyone seen banks tightening what they'll lend as rates rise. I am going for 3.5x so thats max for us as not FTBs.

poker2k9

https://www.boards.ie/discussion/comment/120321829#Comment_120321829

Yes

poker2k9

https://www.boards.ie/discussion/comment/120322593#Comment_120322593

Shouldn't have any issues since theres been no change in circumstances. Do keep in mind the rates you got 6 months ago may be different on the new AIP since it would be based on latest rates

Jasna1982

For anyone wondering whether you can claim back the DIRT on your mortgage saver account if you're a First Time Buyer, you can :-)

I opened a ticket with the Revenue, and after a month I got this response:

What you need to use the service

To make a claim using the DIRT FTB refund service, you will need:

" the amount of DIRT to be refunded

" the purchase price, or completion value in the case of a self-build

" the purchase date or completion date

" your email address

" your bank account details

" evidence of DIRT deducted (for example, bank statements).

How to access the service

You can access this service through myAccount, by following these steps:

" Click 'Local Property Tax (LPT)' on the 'Property Services' card

" Click on the 'Claim DIRT FTB Refund' button

" Follow the on-screen instructions.

You can access this service through LPT online , by following these steps:

" Enter your Personal Public Service Number (PPSN)/Tax Reference Number, property ID and secure LPT PIN

" Click on 'Claim DIRT FTB Refund' button

" Follow the on-screen instructions.

This is it

https://www.boards.ie/discussion/comment/120324976#Comment_120324976

Have you more information on that for someone who knows little to nothing about DIRT? :D

I'm a firs time buyer, hopefully drawing down in the next 3-4 weeks