Currently buying/selling a house? How is it going? READ MOD NOTE POST #1

That's really frustrating, you'd think they'd be keen to get the sale agreed just as much as the buyer! Similar situation to mine, the sellers accepted as soon as I offered what they wanted so I'd have thought that they'd be ready.

Best of luck with your purchase and I hope you get in soon!

What do you need in order to use previous interest rates? Do you need AIP or loan offer and draw down until 14 Nov?

That's unbelievable and stands in stark contrast to our experience with BOI. Generally, they didn't respond to any of our document submissions unless we chased them up by phone and it took them weeks to review some of our documents. Our final documents were submitted about 4 weeks ago and we are still waiting for the release of the mortgage funds. It's Day 12 since our solicitor returned the loan pack to them. We've missed our closing date without any real explanation - "it's with the credit team" is their standard response.

Just wondering if anyone can offer some advice. We went sale agreed in June but the house we are buying was a probate sale so took longer. We thought everything was going to be done on Friday as our solicitor said he transferred funds to the sellers solicitor. Our solicitor has been unable to get hold of the purchasers solicitor. We rang the estate agent today who spoke with the purchaser. Apparently the purchaser had no idea we were near closing and the house needs to be emptied which he anticipates will be done by the end of the month. We’ve been staying in Airbnbs and need to move out this Sat. Has anyone experienced anything like this? Is there anything we can do?

I’m not too sure. We did a walk around today and there were lots of mice droppings that we’ll need to deal with. The house has been idle for quite some time. We have young children. Ideally we’d like to go in and deal with the issues before moving 🙈

We have our stuff in storage so we wouldn’t need the furniture that’s in it.

Hi all!

Any legal experts/credit underwriters here? Im wondering if anyone could provide advice. My property went sale agreed, purchaser really interested, mortgage approved etc. Happy days.

However, now that they're requesting the funds to be drawn down, their bank are looking for copies of my immediate neighbours' green certs, all 3 of our properties have been remediated for pyrite over the last 5 years. One neighbour is refusing (and rightly so) to give anything as they have nothing to do with this transaction.

My solicitor has said that the bank can ask for their certs but are not entitled to it. But can they legally/fairly refuse to advance the funds without it? If that's the case, I'll never be able to sell my house! 😭

So stressed!

Hi folks. Does anybody know at what point in the mortgage process your interest rate gets locked in with BOI. We have AIP and it’s been to the underwriters but still have to get valuation etc and it will be some time before we’re ready to draw down. Thanks

It is up to the BOI. I suspect an announcement from BOI on that similar to AIB recently as I got a call Friday afternoon from BOI - just asking about drawdown date. I expect mine will be this week (crossing the fingers). Person from BOI was not really interested in anything else-so I think they were just fishing for info on how many AIP customers could be affected for certain Mortgage Products that they have.

Things are changing so fast that what happened 3 months is not all that relevant now.

Ya might get a call from BOI - but more likely they are just taking a sample? Have no idea.

Give them a call perhaps. Crossing the fingers for ya

Hello, wondering if anyone has experience with this. I am FTB looking at a new build and in the position to reserve a specific house.

The problem is my mortgage is about to run out in two weeks. I had received a 3.9 times exemption but I have just been informed by my mortgage provider that they are not in the position to renew any more mortgages exemptions until the new year.

This is the first phase and I would not expect to get a move in date by the new year anyway.

Does anyone know the best way to proceed I would love to pay the booking deposit now and reserve this specific house. In theory I have a mortgage approval and proof of funds but there will be 6 weeks or so when this has expired before I can get another mortgage approval.

Will your new mortgage approval get the x3.9 and will you be able to make repayments with any increase in interest?

I'd go for it, you've nothing to lose.

Worst case you'll get your booking deposit back and be no worse off.

Great to hear you’re in and sorted after a long road. I am in the middle of the process have loan pack and my solicitor is only starting to go through the contracts.

Did you sign the contracts and loan pack at the same time ? I am assuming with the mortgage protection and house insurance you don’t need it in place when signing the loan offer but need it before the bank will allow you drawdown the money ?

Hi. No, we signed the contracts a few weeks before the solicitor received the loan pack - they were signed at two separate visits to the solicitors. This was probably due to delays with our mortgage application.

You're right that you don't have to have the insurance policies in place when signing the loan pack but we did. Not sure if you are with BOI but the minute we moved onto the section of the application in the Hub that allowed us to upload the insurance policies, valuation report, etc, I took out the insurance policies. One thing to look out for is to make sure that you take out house insurance for the value of the rebuild/reinstatement cost published on your valuation report. I made the mistake of not seeing this & had to cancel the initial policy and take out a new one. Those figures must match.

Insurance? Seems high, are you in the country somewhere likely where robberies may occur? Can't think of why it would be that high unless your contents estimate is super high.