ADO wrote: » Folks just a quick question regarding the previous posts on getting exemptions, Myself self and partner are saving €2400 a month between us, combined we take home 5k a month and have no loans or credit cards etc. We will have 30k saved for deposit in December and hope to apply in January too as we would need an exemption to buy where we want (Dublin 24) neither of after affected by covid payment. Would we qualify for an exemption?
Smiley11 wrote: » No...you don't pay tax on any profit from the sale of your PPR.
ADO wrote: » Jaysus they certainly don't make it easy, we need the exemption but it sounds like it's extremely hard to avail of, looks like January will be it for us.
brisan wrote: » Exemptions will be few and far between if any next year
Starlord_01 wrote: » Was told the same by both EBS and AIB in the past week. Luckily enough my girlfriend is on a HSE payscale so we can apply for the Public Sector Mortgage through ICS.
Ray1990 wrote: » Hi all, just for anyone applying with ICS mortgages at the moment, it's moving really slowly so don't lose hope! All the banks are the same and are being very cautious and taking their time with each application. We applied via our broker at the end of June, there was a lot of back and forth. ICS required additional documents several times, each time we submitted new documents it was about 2 weeks until we got an update from them, so it can be frustrating. Once they made a decision on what they could offer us the process got a lot quicker and things moved ahead nicely. Got our AIP and letter of offer earlier this month and just signed contracts yesterday! Just wanted to give context to anyone who might be in a similar situation with ICS - it will take a while but don't take it as them being tough on your application personally, it's just a knock on effect to all applications!
Ikozma wrote: » Can i use money I make from the sale of my house now to go towards a deposit for 2 nd mortgage along with savings, I'd have about 3/4 of the 20% deposit saved, or do the banks prefer to see you have saved for the entire deposit?
IvoryTower wrote: » for me they just needed to see 6 months uninterrupted saving.
Starlord_01 wrote: » Thanks for that! We submitted everything about 4 weeks ago and the broker we are going through hasn't heard from them yet.
pooch90 wrote: » We are almost 5 and a half weeks in. I'm part of a first time buyers group on FB and other have gotten it in 2-3 weeks, just frustrating!
Danger781 wrote: » My Broker is asking for 2 copies of photo ID. If I'm giving my driving licence do I need both back and front? Or will just the front suffice? Just trying to make sure I have all my ducks in a row.. Second copy will be passport. Will photos suffice or must it be photocopies?
pooch90 wrote: » Front and back, photocopy would be better.
HannahR31 wrote: » Why on earth would they need to see the back of the licence? I've never once when asked for ID for any application ever given the back.. Also used to work somewhere that looked for ID and the amount of times people photocopied the back of their passport made me laugh.
Starlord_01 wrote: » Could you PM the name of that group please?
frankie15 wrote: » Hi would it be possible pm the name of the Facebook group please?
pooch90 wrote: » At what stage do you stop dealing with your broker? Is it as soon as you get AIP? I know some will keep you on the books and contact you in a few years about switching but for the current process?
cant26 wrote: » I’d say it’s when you draw down. They only get their commission from the banks when the mortgage is in place. I know our broker has a few bits to submit in the next week in order for our solicitor to request funds. I’d say once the funds are requested there’s nothing else for them to do. I could be wrong. Very new to this stressful game!!
cojomo2 wrote: » Good. No exemptions = house prices come down. Why anyone would want to borrow more than 3.5 times their salary is beyond me anyway..
Sheep Shagger wrote: » Don't be so sure, given supply of certain property types in certain areas is below where demand is. Exemptions are still a small percentage of home buyers.
