Saving/Applying for a mortgage 2020-22 Edition

Yyhhuuu wrote: »

I expect all outgoing are factored in calculations.

I personally manage to save over 19k per annum pre covid, now post covid approx. 20k
Saved per annum on net after tax income of over 25k. My income should be increasing so I hope to save more. Delighted with what I've saved so far and really enjoy it.

I dont drive, dont drink and dont smoke and dont eat out as it's usually unhealthy salt and fat laden food. I entertain my friends at home.

I hope everyone else achieves their goals. Best of luck

Fair play to you. Those savings are remarkable.

Yyhhuuu wrote: »

I expect all outgoing are factored in calculations.

I personally manage to save over 19k per annum pre covid, now post covid approx. 20k
Saved per annum on net after tax income of over 25k. My income should be increasing so I hope to save more. Delighted with what I've saved so far and really enjoy it.

I dont drive, dont drink and dont smoke and dont eat out as it's usually unhealthy salt and fat laden food. I entertain my friends at home.

I hope everyone else achieves their goals. Best of luck

If you can live on 100euro a week including rent food transport bills etc you are a better person than most I know with regards to saving

fin12 wrote: »

I find trying to save 10 grand tough enough. But I drink and have a car loan atm.

It's no shame in having a life and living it. Every one is different, keep on it!

Does anyone know how long harvey Norman click and collect takes?

fin12 wrote: »

I have heard of that kind of saving before, I have the book how to be good with money by Eoin Magee and one of his examples some guy definitely earned under 20 grand a year but managed to save like 13 k or something, they lived at home but to be honest it seemed to be me he must have had a pretty miserable life to save all that money.

Maybe he felt that he was in control of his life and enjoyed that feeling. Either way, the previous poster is a remarkable saver.

In the long run, one has to be careful not to be a servant of money, either as a saver or spender. Money is a very hard master.

narodvale wrote: »

Heading into our fourth week waiting for word/AIP from KBC.

We are Sale Agreed on a house with holding deposit paid, survey done, and contracts with our solicitor. We have a combined income of 150k, with job security, not looking to take our maximum mortgage.

I thought banks wanted to lend money? What can possible be the delay aside from just trotting out the ‘being processed slower then usual’ line. We are using a broker which makes it trickier.

Are many others going through the same at the moment?

Are you waiting for AIP or loan offer? I don't know about KBC but BoI and PTSB have both been super quick with AIP. Days not weeks.

I'm seeing very little mention of Ulster Bank on here or elsewhere in terms of people applying to them. Anybody have any indications of their timelines?

narodvale wrote: »

Heading into our fourth week waiting for word/AIP from KBC.

We are Sale Agreed on a house with holding deposit paid, survey done, and contracts with our solicitor. We have a combined income of 150k, with job security, not looking to take our maximum mortgage.

I thought banks wanted to lend money? What can possible be the delay aside from just trotting out the ‘being processed slower then usual’ line. We are using a broker which makes it trickier.

Are many others going through the same at the moment?

Most agents won't even let you view a property without AIP! We went through a broker with KBC, took 3 weeks to the day to get AIP, hopefully you hear back soon.

Bubbaclaus wrote: »

I'm seeing very little mention of Ulster Bank on here or elsewhere in terms of people applying to them. Anybody have any indications of their timelines?

We applied for AIP with Ulster Bank 4 weeks ago and received it today. Went ahead 2 weeks ago and applied for the mortgage on the portal and are still awaiting a loan offer. The advisor has come back multiple times looking for more paperwork prior to submitting it to the underwriters.

HannahR31 wrote: »

Are you waiting for AIP or loan offer? I don't know about KBC but BoI and PTSB have both been super quick with AIP. Days not weeks.

We're also sale agreed with AIP - BOI are taking forever with the loan offer, 3 weeks now

Pelezico wrote: »

He is the best saver I have come across. Must have enormous discipline.

Repaying a loan is the equivalent if saving.

I am able to save so much as I have no rent to pay, it also helps that I walk everywhere ( about 15km per day) which really makes me feel good. I dont go to a gym but swim in the sea which is far more invigorating than a pool.

My expenses are literally only Electricity and phone (9.99 a month). I buy all my food reduced to clear. I can make a main course for about €1 no processed food and certainly not beans on toast. I used to treat myself to about four foreign holidays pre-covid usually London which I love. These cost very little as great value accommodation.

If saving, my advice is to differentiate between needs and wants. Ask yourself do you need this, will you use it? Before buying anything think twice especially if buying on impulse.

It's amazing how cutting back on small things adds up to savings like daily coffees or especially eating out. The best things in life are usually free. Look through your bank statements and see what you can cut back on or identify waste such as gym membership rarely used, expensive phone plans when 48.ie or go mo would be better. Satellite dish instead of cable tv etc etc.

klose wrote: »

Would banks mind you starting to pick up things now before you've gotten your letter of offer? Thinking of picking up a new telly with the black Friday deals coming up. Booking deposit paid, engineering report sent for just waiting on banks and solicitors now to thrash out the formalities. Would they be questioning big purchases for house bits basically what I'm asking

We are in the same boat and decided to ask our advisor in EBS and she said it wouldn't be a problem in her eyes.

awec wrote: »

This sounds absolutely miserable, to be honest.

I would not recommend this approach to anyone, instead I'd recommend finding a more appropriate balance between saving and having some sort of a life.

I have a BIL who lives somewhat like this
He does drink and smoke and gets a takeaway once a week
However he scrimps and saves
Cheap drink ,cheap tobacco
Its an illness in my opinion

fin12 wrote: »

Sorry off topic but it is actually to do with saving money?

Anyone with an post mobile? I’m currently with Vodafone and pay €30 a month but I see an post have a €15 a month plan.

Gomo is 12.99pm
48 is 7.99pm

I'm using 48 myself, no issues at all. There are threads on both if you look them up.