Saving/Applying for a mortgage 2020-22 Edition

Thanks - one additional benefit I found with AIB is that you don't have to pay current account fees if you have a mortgage with them.

https://aib.ie/our-products/mortgages/mortgage-benefits

Albeit doing maths. AIB being 0.15% more expensive but still giving me free banking doesn't make it cheaper than paying BOI the extra 6 euro a month.

Been going through the whole mortgage process this past 7/8 months. My partner and I applied through a broker. We had originally started the application with PTSB but they were then unable to offer the money we needed so we went with haven instead.

We are currently at drawdown stage and are (i think!) nearing the end. There was a bit of to and froing between the bank and our solicitor over a discrepancy in an address but thats all been resolved now. We spoke to our broker today and they've told us the bank has said the cheque requisition has been signed off but they still need to review one document, the deed of assignment. Which we had to resign actually because haven made an update to there deed of assignment doc apparently.

Anyway at this stage does anyone have any idea how much longer we may be waiting until funds are released? Has anyone else any firsthand experience with haven? I've come to realise never assume the banks can't come back and look for something else because it seems they always do when you think your nearly at the end.

Sounds like you will be fine. They know pretty well in advance I would say what will get through. Really the full approval is just verifying everything. It is not in their interest to bring cases through for full approval only to get rejected. But totally understand anxiety as I have same thoughts going in for full approval. You will probably feel like that until offer letter issues

Hi all,

Has anyone experienced this message post underwriter review for BOI. I am worried now…. All green ticks beside documents and repayment capacity. But this popped up today:

Our review of your mortgage application is complete. Your mortgage specialist will contact you in the next 24 hours to discuss the outcome of it with you.

I am assuming that this is bad!!???

Hi @ iwantopinion

I think you will be fine. The only draw back is that your application has to go back to the underwriter stage to get approval on the newly asked borrowing prices.

Best,

Does anybody here have any experience applying for a mortgage as a public sector worker who earns unsociable hours allowances and overtime?

How have the banks treated these payments? Will they consider them when calculating how much they will lend?

Google is giving me mixed responses. I'm taking about any bank, broker etc.

I had an engineers report carried out recently and as part of this it was recommended that I carry out a drainage survey (Nothing particularly urgent, just an old house). My broker has advised the bank will probably want to see this, however the person who when to carry it out advised there was no access on the property. Is this game over no?. Will the bank refuse to draw down if I can't get a drainage report done. Anyone experience something similar?

Your surveyor would say that... he gets to take the fee & then put any responsibility for his work onto someone else at your expense... Now if you don't do it he can still claim that he recommended further action but you refused his advice. It's a win, win for him...

Hi all,

Just looking for an opinion. Gone sale agreed and have a mortgage of approx 225k. Going to avail of the Green Rate BOI offer of 4.2% and will get 2% Cashback initially on that and with potential another 1% at the end of of a 5yr fixed term.

Anyone have any idea of what an approximate breakage fee would be for example if I were to switch providers 3yrs (for a lower rate) into the 5yr fixed term? Kind of thinking that the 1% Cashback after 5years (€2250) might be roughly equivalent to a breakage fee I'd be charged if I switched after the 3yrs and rates went down by 1% for example.

Any guidance would be welcome

Thanks

I thought there was no cash back with green rates?

EBS don’t do cashback on their green rate not sure about BOI

It makes sense alright. The only thing is my shift allowances are paid by the hours worked. But it works out more or less the same every month. That's my only concern. Because it's not a flat rate, I'd be afraid they wouldn't look on it kindly.

Seriously you are buying a house with cats??? And deal with vendor cats? Unless I picked this wrong.