Saving/Applying for a mortgage 2020-22 Edition

I've got approval and am looking for a place at the moment. However landlord is giving the relevant notice so will need to move back home temporarily before potentially being able to go sale agreed on a property in the meantime.

Will I need to reapply for a mortgage if my rent isn't going to be shown on recent bank statements for affordability?

Thanks for the reply that's really reassuring to know! Did you have to give the lender a heads up in advance?

20 days since posting this and still nothing... the builders told us last week they're pulling out if we don't get the Letter of Offer in the "next few days". Have been on to the bank constantly since last Thursday and was assured we'd have it yesterday... still nothing.

Lots of "it's with so and so at the moment and I've escalated" etc. The thought of the sale falling through in the current climate is making my feel physically ill.

Anyone gone direct with BOI lately know how long from when you upload all documents to you hear back from underwriter? We are a mover mortgage and currently with Boi

I was wondering if someone could shed some light here please...

As a brief background, when my partner and I met he knew I had a kid from someone else (my daughter turned 9 this year). I've been with my partner for nearly three years now, want to have kids of our own and, we are both looking to get a joint mortgage. I am 30 and he is 32. I earn 36k and he earns 68k. I hope to get my salary bumped up once I qualify as a lawyer but for now, I have to endure earning less.

We want to get a mortgage now because we have the 30k from HTB and know it is ending Dec 2022 so we want to use it. We engaged with a broker but are still gathering our mortgage docs so we don't know our position yet.

He has savings of about 20k and I don't have any. I don't have savings because I pay for everything for my daughter (school fees then activities etc). We share home bills like rent, food and utilities but I don't ask my partner for money when it comes to my daughter.

My question is...would any lender refuse us if we cannot show I have savings? (the fact that our mortgage application will rely only on my partner's savings)

Thanks in advance!

i have contacted 5 local solicitors to handle our house purchase none have replied is this common for people as I am worried this will be a stumbling block now when I had thought it would be the easy part.

Solicitors take their holidays in August so that may be why.

We have an AIP with BOI through a broker. We were hoping to get to closing in the next 5 weeks as OH got a new job offer to be starting early November so wanted to ensure it did not affect the mortgage drawdown.

We found property and gone sale agreed 18th August, paid booking deposit and informed brokers and organised surveyors to check the property.

Meanwhile, application for loan offer was submitted by the broker to BOi and reuquested the loan amount based on the sale price originally agreed on.

Then, got the surveyor report which came back with few minor issues. These gave a reason to negotiate with seller and as result reduced the sale price by a 3k roughly.

Informed the broker last week and they say we have to start the loan offer application over again due to the new sale price. It's been three weeks and we have expected the offer to come this week but now looks like it will be another 3 weeks (or so). We are considering reversing the price reduction as 3k doesn't seem greater benefit for the sake of it than getting much delayed loan offer.

Contracts in the process of making their way to our solicitors so that's all in order.

Anyone had similar experience or could recommend best approach ?

What are realistic drawdown lead times currently with BOI?

The board or team that decide if they will lend you the money or not based on the findings of the loan officer

Worth a conversation with a broker or even directly with a bank to advise you on this one. I would likely say that yes it would affect you if your letter from employer specifically stated that you had a contract end date. It depends on what your letter from employer might say.

Having said that the timelines for public sector can be painfully slow and you may have it across the line before a change.

I have never had a loan from a bank or credit union A family member loaned me 8000 to buy a car which I repaid within a year I have a direct debit to a savings account 400 per month I have been saving with it for 2 years I pay rent 450 per month Will no record of repaying a loan be an issue?

Hi there,

has anyone recently been through the underwriting process with BOI. Our case application was just submitted today. BOI seem very thorough so feel they have a good solid case, how long should I expect the next steps to take?

also going through EBS but they seem extremely slow

Our family GP retired and I amn't registered with one at the moment - would this be an impediment to getting mortgage protection?

Hi guys so I'd appreciate a little bit of advice on this.

I'm currently sale agreed on my apartment, mortgage free, due to close in the next few weeks, everything still seems to be going ahead as planned despite recent developments. My plan was to sell up, live with my friend for a while. Do the whole 6 months savings thing (I'd have the deposit already from apartment sale) and clear up my bank account (Few betting transactions etc..) and then get a mortgage.

However a place has come up that I've got word they'd accept a certain price. As it stands I've no savings but I am paying back a bank loan that I received a year ago and I topped up last month (so my bank has proved it will give me finance if needed already). If I was to pay off this loan in full using the proceeds from apartment sale I'd need a 30% mortgage and these mortgage repayments would be less per month than the current amount I'm paying off the personal loan.

Do you reckon I should approach the bank now or wait until the sale goes through so I have the proceeds there and would you advise putting an offer in on the property or waiting until I get confirmation from the bank on acceptance of mortgage.