molloyjh wrote: » I haven't read anything on it yet but if I'm reading the above right are FTBs getting help with their 10% deposit while existing owners are left to try and come up with the 20% deposit they need themselves? House prices still aren't back to where they were 12 years ago (which wasn't even the peak) so there's loads of people who aren't in negative equity, but don't have enough equity in their homes to afford that 20%.
errlloyd wrote: » Does that help to buy scheme apply for apartments? I'm beginning to think about buying, and if understand that correctly, it means that if I go for a 250k home (hopefully including apartments), that will give me 12,500. Effectively it means, I only need a 5% deposit, because I've already managed to deposit 5% with the exchequer. Edit: Appears to only be new houses. Kind of useless...
errlloyd wrote: » But yeah, it effectively means that a potential home buyer with a bit of tax history would be able to buy a 400,000 house with a 40,000 deposit, of which the GOVT will pay 20,000. (Thus they only need 20k). For a normal home owner, they would need an 80,000 deposit and get nothing.
awec wrote: » A 400k house would need more than a 40K deposit.
errlloyd wrote: » **** yeah, I forgot that the 10% limit only goes up to 250 or something.
Deleted User wrote: » LTV (loan to value) €58k deposit required. 10% on first €220k 20% on remainder above. dep = 0.1 * 220 + 0.2 * (400 - 220) Then the second part, LTI (loan-to-income) Mortgage amount => 400 - 58 = 342 Requires a gross salary (@3.5x) of €97k p/a to get that.https://www.centralbank.ie/press-area/press-releases/Documents/FAQ%20%E2%80%93%20New%20regulations%20on%20residential%20mortgage%20lending.pdf{banks have some leeway on LTI, so potential that a salary of ~ €80k would get you accepted}
mfceiling wrote: » Well I got some brilliant news today. I closed my account with flogas and it turns out I'd overpaid on my account so I will be getting a full refund. That means in the next 10 days they will be depositing a juicy big 24 cents back in to my account. Beers on me lads.
Interested Observer wrote: » My partner and I are (sorry, were) considering buying, the deposit is just totally unfeasible. The monthly payment would end up being less than what we're paying for rent currently. Not a chance of building so these new regs no good to us. I know there's god knows how many people in my situation but **** it's frustrating.
awec wrote: » You don't need to build the house yourself to qualify for the new regs! You just need to buy a house that is new, not one that someone has lived in.
Interested Observer wrote: » Ah right I totally misunderstood that then sorry There still isn't a whole lot being built.
awec wrote: » Yea but the idea is that with people more able to buy now the builders will be more willing to build. Me and the missus are in the same boat as you, could afford a mortgage no sweat at all but getting the deposit is taking a while with having to pay rent at the same time. These new rules though could knock off up to 20k worth of deposit that you need to save, which is a pretty significant amount.
molloyjh wrote: » Sorting out the rental market in some way wouldn't hurt either. That s**t is bananas.
awec wrote: » First time buyers of brand new houses can claim up to 5% of the value of the property. Really it is just an indirect way for the government to try and kick start the construction of housing by giving builders money. It's not designed to put money in people's pockets.
b.gud wrote: » Trying to lose the belly at the minute, 2 and a half days into my new diet and I'm fecking starving and have never wanted a take away more in my life
irishbucsfan wrote: » I was staying with a friend last weekend who is an athlete and it's just the worst feeling when you have an unhealthy diet and someone puts you to shame like that. For them it's all peanuts and yoghurt and avocados and for me its all pepperoni pizzas and chicken pizzas and other kinds of pizzas.
awec wrote: » I had a KFC for lunch yesterday and two double cheeseburgers from McDonalds for lunch today.
irishbucsfan wrote: »
molloyjh wrote: » I seem to be naturally moving towards a more healthy diet at the moment. Must be an age thing or something. Take aways just don't really appeal to me the same way as they used to. I find myself buying potted herbs and making stuff from scratch. Then at the weekend I was in Le Pain Quotidien and instead of my usual option of belgian waffles I chose the avocado toast. And I loved it. Must be an age thing....... * That said Beast in Greystones do a truly awesome pizza. Their Wicklow Way is amazing.
DGRulz wrote: » I dunno molloy, sounds to me like your inner hipster is kicking in.
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