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

What I have noticed here in Galway City is signs with "Under Offer" plastered on them for a number of weeks, rarely seen that last year.

Yep, almost criminal how prices are creeping up.

Our estate was advertised as 300k, which became 350k when I bought, and those in the next phase are at 380k. I noticed as well the houses in the next phase have a few little features removed to bring down costs.

Paper never refused ink, and journalistic standards are p*ss poor. I would imagine that any variability is just seasonal demand rather than a trend.

I was reading something about Irish property prices, and the consensus was that prices won't fall as sellers are not motivated enough to drop them.

There's not enough quality housing for current homeowners to upgrade to, and the numbers in mortgage arrears are still very small as most are on fixed rates. So sellers are happy to wait for more motivated buyers.

Am sale agreed myself currently and in my original mortgage application for AIP, I had put down 5 year fixed as the option for interest rate however I am now beginning to think based on recent news that rates may have peaked so am tempted to go with variable rate instead. I am hoping to regularly pay off more than needed on my monthly repayment so both these factors has me swayed towards variable.

Yeah it's hard to know and I take your point that banks can be slow to react to downward central bank rate movements. Still though..I no longer feel that fixed rate is the same no brainer option it has been for the last year. Either way as soon as you pick one or the other , you're already speculating.

You can always break it. Your bank will have a calculator so you can figure out the breakage fee should interest rates decrease.

Got word today our snag list has been completed. Off to inspect ourselves at 2pm. Hopefully be getting the keys next week possibly!

Probate are tricky in my view. You don't know the exact date the probate goes through. How are you going to time it the same day as your sale? My guess is your house sale will go through faster than your buy. Your buyer will be keen to pay you and get in your house. But what if your probate buy is not gone through.

My 2 c. Perhaps other people can offer better thoughts.

I asked my vendor if 6.5% is ok on signing. This is all I had as disposable cash as you can’t hand teh 10% deposit you’re receiving onwards. Vendor was ok with it.

Just looking to see what people’s thoughts are on this.

1.theres detached (self build) 4 bed homes being built in my town €390k but to a builders finish and that’s to a good standard. It’s painted, has the doors, driveway is done, garden is seeded etc. we’d need to do the tiles, floors and kitchen. (Bathroom ware is included) the self build part is where we might get caught with the banks when reapplying for a mortgage

2. There’s 4 bed semi detached homes same sq footage as the detached in a neighbouring town for €395k but this house comes finished. But has a smaller area attached to it. No problem with mortgage here!

what would you do in this situation???

I’m especially with a lack of second hand homes that suit us! The above two would suit as they’re both 500sq feet bigger then what we have now and have the extra rooms etc!

Thanks, was thinking along those lines as well. It’s self build part that boggles the mind! The developers want it that way, I can’t understand why!

So after all our disaster over the past 7 months, we’ll be putting down a deposit on a new build 4 bed semi D 140sq m so 500sq feet bigger then what we have! Rose Hill Mallow! We’re still hoping something will come up that was similar to what we had been sale agreed on but that’s hopeful!

I dealt with him 5yrs ago and was fine but tried to use him again 18mths ago and found the service very poor. Subsequently used a broker based in Raheny and found them more than satisfactory

Anyone have info on breakage fee with PTSB or breakage fees in general ? I spoke with them in branch and they were useless , don’t understand how if u request a face to face appointment in branch and then you just get put on a phone when u go in there, could have just done that at home.

only 1 year on mortgage paid on a 5 year fixed and overall 30 year mortgage.

Fresh start is a local authority home loan feature, banks i've seen mention it are AIB, not too sure about BOI or PTSB,

"The Local Authority Home Loan is available to first-time buyers and ‘fresh start’ applicants. Fresh start applicants include:

• People who are divorced, separated, or whose relationship has ended and who have no financial interest in the family home
• People who have gone through personal insolvency or bankruptcy

Note: The Local Authority Home Loan cannot be used by fresh start applicants to buy their former partner’s share of their family home."

so get onto to your local authority and get the relevant information from them as each one can have different rules/conditions.