Saving/Applying for a mortgage 2020-22 Edition

🤣 I know

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.

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

Get tax advice but think it is only cgt exempt if rolled into next house which assume is case here

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

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.

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.

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.

Broker Just said they were sticking with the previous decision from February and that was it.

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?

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?

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.

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.

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!