Saving/Applying for a mortgage 2020-22 Edition

In general when you're on probation you can get AIP so can look to start bidding etc, but they let you draw down (on a house you have gone SA on) until you're off probation.

However if it's a promotion, that sounds a bit muddled... it would be best to perhaps ask the bank directly.

That’s not probation as the banks see it. You’re still a full time permanent employee to them. Worst case scenario (and the banks know it’s hugely unlikely) is you’ll revert to your previous grade

congrats on the promotion and good luck with the house hunting

It is though as banks wont take the higher salary as the base for the 3.5 times, as the individual can fail probation and go back to lower pay.

Everything depends on the banks preferences though, so ask your bank.

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Yeah I've sent away for it but can take up to two weeks. May need to apply for the mortgage sooner as contracts are due soon and I've been told that I can't sign them until the loan offer is approved?

I've contacted ICS weeks ago (possibly 6 weeks ago) and heard nothing back. Are they usually slow or have i been lost among the applications?

Sorry, what part of the process is the 20 working days in relation to? I've an application in with them so good to know when to expect the delays.

Curious as to whether everyone uses bonkers to compare current mortgage offers?

Is it the most reliable and up to date aggregator of mortgage deals or is there any other options for comparisons?

Savings is fine. They take the total and divide by X months to get your average. Obviously the more consistent the better.

On your overdraft, just cancel it before applying to make things go smoother. But you don't owe any money so it shouldn't reduce the amount you can borrow or anything.

Many single people getting mortgages these days successfully? I got approval for a second mortgage via ICS through a broker. Have a small mortgage on existing place, plan to hold onto it and move to new place. Hasn’t been easy- I look with envy at the amounts some couples here seem to be able to borrow and buy! Have a fairly decent salary €60k plus benefits but multiplied by 3.5 and our property market it won’t exactly get a mansion. Part of the country I live in (Kilkenny) is very expensive. Again I look with envy at prices in other parts of the country. Also it is 80% loan to value with ICS so need a big whack saved. Not moaning but again not easy when buying as a single!

Thanks ciara, no I didn’t bother. With keeping my existing property I’m a good bit more constrained. Was happy enough to get approval for what I did to be honest. They won’t go above the 80% ltv either. How are you getting on looking for property in Dublin with that budget?

I got a 2 bed home in Tallaght, nice little area. Waiting for contacts so wont be popping the champagne jut yet lol. boards has been a godsend re advice. ive been so lost during it all

Sorry, but I don't have much sympathy for you already owning a property with your small mortgage.

Sell it if you want to buy a nicer house.

Most of us are struggling to buy our first home during this ridiculous crisis and facing massive mortgage loans until we're 70.

Ics= Irish civil service mortgages