Saving/Applying for a mortgage 2020-22 Edition

Hi could anyone advise on the best tools online or anywhere that supplies advice on the best banks to supply a mortgage or the best rates.I am just starting the process and am at a loss on what way to go about it. Are the credit union mortgages any good or worth looking into?. A mortgage broker is 4 figures but are they worth it in the long run? I am normally good at arranging and organising stuff like this. I'm just struggling to get started.Thanks in advance.

Get a broker. You don't pay the broker, bank pays them when you get the mortgage of your choice.

Has anyone heard of AIB offering Fx mortgages for residents? We were told last year by our broker that only Haven do them but now someone told us then confirmed that AIB also offers them. I know they're largely the same company but the ability to apply directly to AIB would be useful given how thoroughly useless our broker has been so far.

Just wondering if they looked for the statements and payslips etc - in the same position now

Aim of the game is to have the lowest monthly repayment in the nicest possible house. But how you get there is worth considering.

Min deposit you'll need to start is 10% of purchaser price so about €31k.

I'd max or mortgage to start and save my money for potential issues that arise in the early months - houses can hide a multitude of issues you only really see when in. The logic being it's easier/cheaper to ask for the money up front then have to go back shortly after draw down looking for a home improvement loan (at possibly a higher rate). Which they may or may not agree too.

If nothing negative crops up then I'd plough money into either the mortgage or upgrades.

Regardless of what you do if be inclined to sell shares. You're effectively borrowing extra money (at mortgage rate) to invest. Paying your mortgage offers a guaranteed tax free return. To be better off with the shares you need to make an annual return well in excess of your mortgage rate when you factor in CGT.

Has anybody made use of the first home scheme? If so any issues in using it?

How long did everyone's HTB take to process? I applied in January and it just says "under review" and shows my application code and nothing more. I tried contacting through my enquiries but i haven't received a response

If one were to receive a mortgage loan offer, and then after that but before drawing down the mortgage, they set up a revolut account that wasn't in any way connected to their bank account - could the lender find out about that account?

You are totally overthinking it. Don't worry. It is a one off.

I got AIP with multiple consistent transactions to crypto exchanges. You'll be grand.

It shouldn't scupper your application - getting sick is hardly unusual. That's assuming its not a frequent occurrence. That's not to say your mortgage provider wont query why your wages were lower. If you have evidence (a sick cert or letter from your employer explaining why your salary was lower) I would think you'd be fine.

Hi

Does anyone know if it’s possible to drawdown 1st stage self build payment if site is not yet in my name, site is currently in the process of being transferred but it’s a messy case.

My solicitor is telling its not possible until in my name but surely if the application is lodged it can be done?
Any help appreciated as hearing both it’s possible and not.

Mortgage is with Haven

Thanks

yes it’s family land and getting a letter of consent is no problem, but I’ve been told no drawdown until in my own name.

Hopefully I can drawdown with a letter of consent as the site transfer can take weeks/months.

The messy part was the application had already been done by a previous solicitor but never lodged by a mistake on his part, so the process is only starting again. Unfortunately I had expected it to be in my name by this stage

Hi all, first time poster here. Hoping someone that works in mortgages or has plenty of experience can advise.

Me and my wife are planning on applying for a mortgage early next year, but even the thought of it is stressing me out as I keep freaking myself out with random thoughts about how we may be declined.

For context , we'd be hoping to get a mortgage for about 3.25x our income (excluding bonues), have no debt (have CC with 2k limit but no debt on it for over a year), and currently have combined monthly rent and savings (never touched) for the past 2 years for an amount 27% over what our repayments would be. We'd like to get A.I.P for about 88.5% LTV, should we need that amount.

My biggest concerns are around previous debt. I used to have multiple loans, an arranged overdraft and credit card balance as things were a bit tougher for us in the past. I never missed any payments on these loans, the overdraft balance was cleared every month and I always paid more than the minimum payment on the credit card balance. I did however live in my arranged overdraft most of the month and credit card balance was always near enough the limit (but never crossed). All these loans and the overdraft are now cleared (loans paid of early in all cases) , and they will all have been cleared for over a year when we intend to apply. So that is my first concern - will this history of living in multiple debts , which they will be able to see from my credit report, albeit "managed", be a red flag against me even though I'd be debt free for over a year?

My second major concern is that I applied for two top ups to my bank loan in 2022 , as well as the reopening of my overdraft (all granted but all small amounts). We were struggling a bit at the time with new baby costs, and then things like car trouble came along. Would this be a red flag to the mortgage providers?

I'm hoping to go with Avant because I like their long term fixed rates, and I've heard they can be tough enough, but I don't know if my history of these historic multiple loans/debt will be an issue or a non issue. Any advice or guidance would be much appreciated. I really don't know if I'm freaking myself out unnecessarily.