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

Paid €4350 inc everything with stamp duty

ChewBerecca wrote: »

Offer submitted mid-May, sale agreed mid-June. Signing on Monday.

Could have signed weeks ago as no chain on either side but the vendors solicitor wouldn't answer a query and the agent was no help until we said we were pulling out because we weren't getting a response. Needless to say our solicitor got the response pretty quickly after that.

Vendors solicitor is trying to say we were playing games the entire time when they were the ones not responding to the queries.

Either way, delighted to be moving towards closing.

What was the point in them holding things up? what was there to gain?

Obviously banks look at your savings history as part of a mortgage application but do they take into account how much you pay on rent? I am looking at moving to a place thats €250 a month higher rent, so thats €250 less I can save.

Am I better stay where I am and save the money or how would the banks look at it?

Gael23 wrote: »

Obviously banks look at your savings history as part of a mortgage application but do they take into account how much you pay on rent? I am looking at moving to a place thats €250 a month higher rent, so thats €250 less I can save.

Am I better stay where I am and save the money or how would the banks look at it?

They do take into account your rent. And they will look for proof of this on your bank statements, it makes it easier if you set up the standing order as "Rent", so there's no mistaking this.

Sunrise_Sunset wrote: »

We are getting keys on Monday.
I believe the mortgage funds have been requested and we are ready to go on Monday.
Does anyone know how it goes down on the day? The solicitor said we don't go to their office. So, do we just drop off keys to the purchasers estate agent? And then collect our keys from the vendor's estate agent?

For your sale, you should drop keys off to the auctioneer once you have cleared the house. Once your solicitor rings you to say that sale has closed, you can cancel any insurance you have. For the purchase, once your solicitor has said it has closed, keys will be picked up from the auctioneers. On the day of closing searches need to be carried out by your purchasing solicitor against those your buying off and the house. Equally your purchaser will do searches against you and the property. These can take a few hours depending on backlog so both may close in the afternoon esp if solicitors are doing same day transfer of funds. Those will need to clear also.

Your solicitors should contact you once the sales have closed.

Has anyone any experience of purchasing a property in probate? I’m just wondering how long the process usually takes, finding varying answers online!

DelBoy Trotter wrote: »

For anybody who has applied for a mortgage with AIB recently, how long has it taken for full approval once all documents have been submitted on the portal?

It was about a week for us.

Thanks folks. Have AIP and submitted the last of the documents needed today so was just wondering how long others have been waiting.

I found AIB the worst of the banks to deal with.

Offered us far less than any of the others (KBC, PTSB, BoI). The others took into account the wife's contracted overtime, AIB lied and said they did to, then admitted they didn't, refused to discuss it and then never returned calls to the underwriter. They also claimed we didn't need them to give us further cash because we had (just) enough saved to cover the shortfall between their offer and our needed amount - the assumption being you don't need to pay solicitors, stamp duty or have money to put a single thing in the house.

Bank of Ireland couldn't have been nicer or quicker with their offer. Gladly went with them, and the wife will be moving her account from AIB to BoI shortly, doesn't want to deal with AIB ever again.

use bonkers.ie mortgage tools.

there's way too many variables at play here to take some rando's on the Internet's advice on this.

drunkmonkey wrote: »

EBS with the cash back offer on that amount. Don't apply to AIB if you're thinking of going with EBS as they won't quote you.

You can't say that for definite. As pointed out by Creamy Goodness, there are too many variables. We don't even know if Frozen Veg a fixed or variable mortgage, or how long it is over, or if they are a first time buyer, etc.

drunkmonkey wrote: »

Don't apply to AIB if you're thinking of going with EBS as they won't quote you.

How true is this?

Are there any clawbacks on the EBS cashback offer?

Mitch Connor wrote: »

I found AIB the worst of the banks to deal with.

Offered us far less than any of the others (KBC, PTSB, BoI). The others took into account the wife's contracted overtime, AIB lied and said they did to, then admitted they didn't, refused to discuss it and then never returned calls to the underwriter. They also claimed we didn't need them to give us further cash because we had (just) enough saved to cover the shortfall between their offer and our needed amount - the assumption being you don't need to pay solicitors, stamp duty or have money to put a single thing in the house.

Bank of Ireland couldn't have been nicer or quicker with their offer. Gladly went with them, and the wife will be moving her account from AIB to BoI shortly, doesn't want to deal with AIB ever again.

I can confirm this... Same thing happened to us. They offered us 30 000 less mortgage then BOI and as a condition they placed to pay off current PCP on a car. BOI never asked that and said we can keep it until the end of the contract if we want. As well - very hard to get official response from underwriters while bank staff were very responsive in AIB i have to say... I guess it just depends who you get but fact is that AIB gives less money.