🤣 I know
BOI do cashback with their green rate. The rates they don't offer it with is their High Value Mortgage rates
I checked this for green high value and cannot get cash back. So fine on standard green but om the lower green hvm it is no. Whilst rate is dearer the green standard fixed seems to be best overall value they have. Plus my understanding is the cashback cant be recovered so could move again for lower rate.
Their high value green is worth more in the long run than the cash, I thought?
I see AIB rate increase was announced yesterday and fairly significant across all but their green rates. So anyone who planned on going with them soon for a green rate are ok.
This isn't really a mortgage question but we have agreed to sell our house for 280,000,we purchased it originally in 2003 for 100,000
Do we have to pay cgt of 33% of 180,000
It's always been our main residence
You're exempt from CGT.
Get tax advice but think it is only cgt exempt if rolled into next house which assume is case here
You are excempt from CGT and you can do whatever you like with the money 100%
Straight from the horses mouth, Revenue should always be your first port of call.
Tax advice on forums/social media is usually terrible.
https://www.revenue.ie/en/gains-gifts-and-inheritance/cgt-reliefs/principal-private-residence-ppr-relief.aspx
Sounds like your exempt from paying cgt if your selling a house that's been your only residence since the day you bought it,which is our case
Thanks for the replys
.
Not as part of the sale directly. We are however rehoming the vendor's cats, we would have adopted some anyway to keep rodents away as house is rural with gardens backing onto farmers fields and vendors would have had to rehome them anyway so it suited both parties.
Ahh you are very good.
In relation to PTSB in case anyone else is wondering about drawdown, they were fairly swift with final checks and funds were released the day I made the post. Requested 27th June, released 29th June and in solicitor's account on 30th June, we closed sale the following Thursday (6th) and now have keys - woo hoo, now the fun of moving into an older house starts.
Anyone any advice for us trying to get a mortgage. I am fulltime but partner works in the film industry on fixed term contracts but he's PAYE. Have currently high hopes with ptsb but looking for others who have succeeded.....
This is false.
As long as the house was always your PPR, there is no CGT on any gain.
Simple as that.
It is not relevant what you do with the proceeds of the sale.
I got that wrong. Other poster pointed it out already.
variable rates are usually lower than fixed.
Anyone have something similar happen to them?
Applied for a mortgage back in February with TSB and got aip, found a new build, and put down a booking deposit. Went to get full loan offer and got refused because I was on probation (Civil Service) and we had spent some of our savings back in October 2022 on our honeymoon.
The new build wasn't going to be ready until September this year and they refused to put a subject to probation being finished before the drawdown in the conditions
Fast forward to now and we went with a broker this time and still declined even though the original issues have been resolved and we have a clear 6 months of savings €2000 a month and only looking for a mortgage of €250,000.
We have the property secured, We have the 10% deposit and the money to cover all the fees. We are using the First home scheme as well and we just don't understand how they can just give a blank refusal.
Any advice would be much appreciated.
Broker Just said they were sticking with the previous decision from February and that was it.
Anybody gone through the BoI process recently that could advise the various timelines? (Loan Offer -> Drawdown specifically)
Our solicitor is advising about 20 working days from the moment they return the loan pack to drawdown, is that peoples current experience?
Seems a bit long, and frustrating given we are currently in the middle of a 10 to 20 working day wait for said Loan Offer documentation.
If I trade across or trade up to a new home with an existing mortgage, what will be owed to the current mortgage provider upon sale? I know it depends on the provider but just wondering in general is it the balance of the home value only or the full mortgage amount to term including interest?
Just the balance that’s in your account! If you’ve positive equity that can go towards a new home. That’s what we’re doing at the moment!! Trading up.
Sorry for the stupid question, but is the balance in my account the value of the home mortgage or is it the value of the home mortgage plus the full term of interest?
It’s the value without interest! That’s all you’ll pay if you’re in positive equity. I bough my house for €115k selling it for €230k have €93k left on mortgage so will have a profit of €137,000 tax free as it’s my only residence and I don’t rent a room!
Hi, have a question.
I'm currently looking and aware of a house that might be coming up for sale (right next to family home and parents so aware in advance), and I'm considering making an offer on it but I'm aware it's not in the best condition and would need some updating (it's been rented out for 15 years or so and house hasnt had anything really done to it since it was built in the 90s) so chances are I'll need to remodel most of it and get new kitchen, wardrobes etc.
What I'm thinking would be buying and just renting it out for 2 years or so in order to afford the remodelling, so just wondering how fine banks are with that?
I can likely afford the house (unless bidding goes insane) based on house purchases in the area recently but cant afford purchasing it and remodelling in one go, so I'd be either leaving it empty or renting out.
Would a bank look unfavourably on that or is that a bit normal?
Alternatively, I could do rent a room although probably need to work out exactly what constitutes a qualifying residence for that.
We Just went sale agreed on a house yesterday and so contacted our broker straight away.
We will send whatever few bits they need on Monday to get the ball rolling but as with every single person on here we are mad eager now to get in the door so my question is with BOI how long does drawdown process normally take.
We have sold our house to someone and they want to be in here by end of august
The bank will not be slowest part. I turned my AIP into full approval with bank within couple weeks. It took much longer for vendors solicitor to get contracts across to be reviewed. The legals was the slow part.
The entire process is painfully,especially when your trying to sell and buy at the same time,we were outbid on a few properties and are just delighted to have gone sale agreed on one now that we just want the whole bloody thing to be over.
Why in gods name it takes so long and there's so much hassle moving from one house to another I just don't know
Similar situation as you are. All we’re waiting on is valuation report to be done with EBS. Everything else seems like a formality really. We’re in a triple chain so it’ll take a long time legal wise!
Will you have to wait long for valuation
