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

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    #2012
    givyjoe
    Registered Users Posts: 3,287 ✭✭✭givyjoe


    Claw Hammer wrote: »
    You sound like you've never bought a house in your life.
    Some people buying house are organised an know what they are doing. Others are scattered and making it up as they go along. Guess which ones are more likely to have their bid accepted and processed? You are buying houses, not ice cream from a van. An agent accepting a bid is committing himself to a lot of work and time and won't want to deal with a messer if at all possible.
    I have seen agents refuse to accept a deposit from people because they didn't like the solicitor the buyer proposed using.
    Like most people, no I haven't, that does not mean I or others are disorganized, quite clearly it seems to be that despite most here being amateurs, there still excellent advice being given out here. Perhaps you could take a leaf from their book instead of talking down to people.


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    #2013
    trinib
    Registered Users Posts: 154 ✭✭trinib


    Conrad83 wrote: »
    Fyi AIB are still currently giving exceptions. We have just been approved this week. We didnt go through a Broker. Went directly to AIB. From what I have heard Brokers have said no banks are giving exceptions which is obviously not true. So for anyone looking for one and not affected by Covid maybe give them a try!

    Can I ask was the exception LTI or LTV with AIB?


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    #2014
    Conrad83
    Registered Users Posts: 155 ✭✭Conrad83


    trinib wrote: »
    Can I ask was the exception LTI or LTV with AIB?

    It was LTI.


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    #2015
    lcarrol3
    Registered Users Posts: 82 ✭✭lcarrol3


    Dunston wrote: »
    Would be interested to hear your thoughts on what advantages Parkside would have over the new development beside the Coast at Baldoyle named Bay View? Both are meant to be late 300s for 3 beds so similarly priced. I've no ties to the area but hadn't considered Parkside over Bay View due to proximity to the dart station and the coast.

    Hi Dunston - the only thing that turns me off the Bay View development is the vast majority of the homes don't have driveways (based off plans and speaking to the EA!). I drive an electric car so it's a must for me.

    Otherwise I actually would prefer the location of Bay View for the reasons you mentioned!


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    #2016
    lfen
    Registered Users Posts: 196 ✭✭lfen


    connollyj wrote: »
    Went sale agreed on Monday (I'm with Ulster Bank).
    Sent an email straight away to UB/Mortgage Advisor to arrange bank valuation.

    Called her same day, left a voicemail, managed to call her on Tuesday with an answer stating she'd be replying by EOD.
    Called Yesterday, called today, no answer. This is blocking the initial part of the sale, it'll take further problems I suspect arranging the date of the valuation with the vendor etc. So off to a bad start here.

    I've called Ulster bank today, and they transferred me from an automated machine to a call center somewhere.
    This person at the call center transferred me to NatWest Bank in the UK (?!?!?!?), whom prompted hung up on me.

    I then called again, went through automated and remote call center hoops, and was transferred to the mortgage department.
    This department was only for existing mortgages and seemed quite confused as to why I was calling them, which I'm not surprised by.

    I tweeted Ulster bank in desperation only to be tweeted back they can't help me and to contact the mortgages team (tried that, it didn't go great, the first time I was transferred to another bank in a different country!).

    They tweeted again asking for more details, I've provided them, they said they've asked my advisor to take a look. I presume this means they just sent them an email.

    Sorry for the long winded message here, this is quite frustrating. The process will already take a very long time without these un-needed and time consuming delays. Any tips here guys?

    Update: Tweet seems to have worked, got a call back today. Apparently the request has already been sent Tuesday for the valuation, my understanding based on the brief call Tuesday was that the email was to be reviewed and replied to and hopefully with some info/detail on the valuation. However I had no confirmation any action was actually taken, regardless atleast this seems to be moving forward now.

    We went sale agreed in March, mortgage with UB and house was ready to go. We are trying to drawdown 3 months. Wish you the best of luck dealing with them.


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    #2017
    luckycat007
    Registered Users Posts: 36 ✭luckycat007


    Conrad83 wrote: »
    Fyi AIB are still currently giving exceptions. We have just been approved this week. We didnt go through a Broker. Went directly to AIB. From what I have heard Brokers have said no banks are giving exceptions which is obviously not true. So for anyone looking for one and not affected by Covid maybe give them a try!

    We are going through a broker, in the end mortgage with KBC and our exception that was granted pre-COVID19 has been re-approved. So "no banks are giving exceptions" is not true. It COULD be that they aren't giving new exceptions..only extending those already approved?


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    #2018
    Conrad83
    Registered Users Posts: 155 ✭✭Conrad83


    luckycat007 wrote: »
    We are going through a broker, in the end mortgage with KBC and our exception that was granted pre-COVID19 has been re-approved. So "no banks are giving exceptions" is not true. It COULD be that they aren't giving new exceptions..only extending those already approved?

    Possibly the case with most banks but we only applied 2 weeks ago and got approved this week! Both in stable secure jobs and obviously had to get letter from employer re Covid.


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    #2019
    guyfawkes5
    Registered Users Posts: 291 ✭✭guyfawkes5


    I'm close to drawdown and have just been asked to provide one last wage slip and current account statement by BOI. They said this is as part of a 'Covid Impact Assessment'. They said they are purposefully doing this at the very last moment before drawdown.

    This has probably been mentioned a few times in the thread, but I said I would post here in case it helps anyone.


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    #2020
    lir6777
    Registered Users Posts: 214 ✭✭lir6777


    guyfawkes5 wrote: »
    I'm close to drawdown and have just been asked to provide one last wage slip and current account statement by BOI. They said this is as part of a 'Covid Impact Assessment'. They said they are purposefully doing this at the very last moment before drawdown.

    This has probably been mentioned a few times in the thread, but I said I would post here in case it helps anyone.

    Guyfawkes5 you're someone whose name I recognise, think we've been on somewhat similar paths on these forums in recent months- really happy to hear you're in the final stages and things are on track for you! :) All that hard work must be paying off!


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    #2021
    mcbert
    Registered Users Posts: 460 ✭✭mcbert


    Got keys a week ago. Delights and relieved!! Especially with (not unexpected) news of mortgages getting more difficult to get...

    I'm happy we got nearly 10% off asking during lockdown, and wouldnt trade it for the uncertainty of future price drops with more difficulty getting a mortgage...


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    #2022
    ELM327
    Registered Users Posts: 21,358 ✭✭✭✭ELM327


    guyfawkes5 wrote: »
    I'm close to drawdown and have just been asked to provide one last wage slip and current account statement by BOI. They said this is as part of a 'Covid Impact Assessment'. They said they are purposefully doing this at the very last moment before drawdown.

    This has probably been mentioned a few times in the thread, but I said I would post here in case it helps anyone.
    This is the "ensure you're not on any of the covid schemes" check.


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    #2023
    random_banter
    Registered Users Posts: 614 ✭✭✭random_banter


    luckycat007 wrote: »
    We are going through a broker, in the end mortgage with KBC and our exception that was granted pre-COVID19 has been re-approved. So "no banks are giving exceptions" is not true. It COULD be that they aren't giving new exceptions..only extending those already approved?

    This article from the IT today seems to prove just that: https://www.irishtimes.com/business/financial-services/aib-introduces-frightening-mortgage-rules-and-halts-lending-to-covid-payment-recipients-1.4290956

    They did also say exemptions are gone for second time buyers (that's us unfortunately), but there seems to be some flexibility for FTB if the loan is under 500k.

    We now have to get to 20% deposit as himself already has a mortgage on a flat. It's a pain knowing we were ready with around 15%, having got there etc with lots of grafting. Buying in South Dublin is NOT easy when you're trying to produce 20% but I'm over moaning about it, it's not going to change anything or the terrible and (worse) things that are happening in the world.


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    #2024
    LJ12345
    Registered Users Posts: 122 ✭✭LJ12345


    It’s devastating for people like yourself to have the market change and especially when it’s not something you had any control over. It will get better and as I was always told ‘what’s for you won’t go by you’ the right place will appear at the right time for you. The good news is there is only a need for 1 month worth of wage slips once off the covid payment (unless I read it wrong) for those that have had a temporary salary reduction, that doesn’t help if the exemption has been removed completely and is needed though. The banks have to be prudent until we get some positive news.
    random_banter wrote: »
    This article from the IT today seems to prove just that: https://www.irishtimes.com/business/financial-services/aib-introduces-frightening-mortgage-rules-and-halts-lending-to-covid-payment-recipients-1.4290956

    They did also say exemptions are gone for second time buyers (that's us unfortunately), but there seems to be some flexibility for FTB if the loan is under 500k.

    We now have to get to 20% deposit as himself already has a mortgage on a flat. It's a pain knowing we were ready with around 15%, having got there etc with lots of grafting. Buying in South Dublin is NOT easy when you're trying to produce 20% but I'm over moaning about it, it's not going to change anything or the terrible and (worse) things that are happening in the world.


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    #2025
    AaronMic95
    Registered Users Posts: 27 ✭AaronMic95


    We've thought about selling our house before the pandemic, but seeing some of the replies here is making us think twice. On the other hand, I've read an article and some points made sense. A lot of people may have been affected financially because of C19, but those who need a house and have the resources aren't going to shelve their plan. So, the demand is still there. I guess we just have to be patient given that the process is taking much longer now. While we're not in a hurry to sell, we're worried that we'd encounter more challenges if we put this off later this year or next year. I think the effects of C19 are going to be more apparent in the coming months and this may include people thinking twice about making big purchases.


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    #2026
    rsl1976
    Registered Users Posts: 824 ✭✭✭rsl1976


    We were able to drawdown last week finally!!!!

    Quick question though, the house we are buying is my family home so my parent will be staying with us. His solicitor has told him that he will be getting the money by cheque as they don't do bank transfers, is this the norm? Really disappointing for them as it just adds another delay to them getting their money as they will have to wait for the cheque to clear


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    #2027
    limnam
    Registered Users Posts: 9,152 ✭✭✭limnam


    rsl1976 wrote: »
    We were able to drawdown last week finally!!!!

    Quick question though, the house we are buying is my family home so my parent will be staying with us. His solicitor has told him that he will be getting the money by cheque as they don't do bank transfers, is this the norm? Really disappointing for them as it just adds another delay to them getting their money as they will have to wait for the cheque to clear


    There's an option at the bank for express clearance costs a couple of euro


    Are they in that much of a hurry?


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    #2028
    rsl1976
    Registered Users Posts: 824 ✭✭✭rsl1976


    Not in a hurry. The solicitor just seems very slow in general. Taking days to get back to them when they have questions. When they needed forms signed kept fobbing them off even though getting them signed meant we could drawdown quicker.

    They would have just preferred a bank transfer.


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    #2029
    limnam
    Registered Users Posts: 9,152 ✭✭✭limnam


    rsl1976 wrote: »
    Not in a hurry. The solicitor just seems very slow in general. Taking days to get back to them when they have questions. When they needed forms signed kept fobbing them off even though getting them signed meant we could drawdown quicker.

    They would have just preferred a bank transfer.


    Sounds like most solicitors.


    You need to get very very lucky to get an attentive one by the sounds of it


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    #2030
    Rock77
    Closed Accounts Posts: 1,123 ✭✭✭Rock77


    Quick question all,

    We got a phone call yesterday to say we have been fully approved and will receive our letter of offer in a couple of days.

    I understand that they might look for more statements and payslips before drawdown, payslips won’t be an issue.

    Problem is we are saving a lot per month, we slightly mistimed the standing order and our current account went into a minus figure. We fixed it straight away, cash from our 2nd savings account and wages went in the same day.

    Anything to worry about..

    Thanks


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    #2031
    limnam
    Registered Users Posts: 9,152 ✭✭✭limnam


    Rock77 wrote: »
    Quick question all,

    We got a phone call yesterday to say we have been fully approved and will receive our letter of offer in a couple of days.

    I understand that they might look for more statements and payslips before drawdown, payslips won’t be an issue.

    Problem is we are saving a lot per month, we slightly mistimed the standing order and our current account went into a minus figure. We fixed it straight away, cash from our 2nd savings account and wages went in the same day.

    Anything to worry about..

    Thanks


    No, just explain what happened if they ask anything


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    #2032
    Draco
    Subscribers Posts: 1,911 ✭✭✭Draco


    rsl1976 wrote: »
    We were able to drawdown last week finally!!!!

    Quick question though, the house we are buying is my family home so my parent will be staying with us. His solicitor has told him that he will be getting the money by cheque as they don't do bank transfers, is this the norm? Really disappointing for them as it just adds another delay to them getting their money as they will have to wait for the cheque to clear
    Is the mortgage with PTSB? When I got my 1st mortgage with them (5 years ago) they only issued funds via check - my solicitor told me they were the only bank at the time that hadn't switched to electronic transfer.


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    #2033
    lenny4545
    Registered Users Posts: 72 ✭✭lenny4545


    Has anybody had any problems with valuations (as in banks valuing house less than advertised price) during covid? Our salaries haven't been affected by covid so valuation only potential stumbling block left that might prevent us from buying first home.


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    #2034
    Conrad83
    Registered Users Posts: 155 ✭✭Conrad83


    Hi, may seem like a silly question but does solicitor need full loan offer in order for us to sign contracts or is an AIP adequate? Would have thought loan offer was required closer to drawing down?


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    #2035
    awec
    Administrators Posts: 53,356 Admin ✭✭✭✭✭awec


    Conrad83 wrote: »
    Hi, may seem like a silly question but does solicitor need full loan offer in order for us to sign contracts or is an AIP adequate? Would have thought loan offer was required closer to drawing down?

    Full loan offer.

    The full loan offer is sent by the bank to your solicitor, and they review it, and you usually sign it and the contract at the same time with the solicitor. Your solicitor should point out any notable clauses in your house contract, and any notable clauses in your loan with the bank.

    AIP is worthless, no half decent solicitor will let you sign a contract without a full loan offer.


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    #2036
    Padre_Pio
    Registered Users Posts: 4,895 ✭✭✭Padre_Pio


    awec wrote: »
    Full loan offer.

    The full loan offer is sent by the bank to your solicitor, and they review it, and you usually sign it and the contract at the same time with the solicitor. Your solicitor should point out any notable clauses in your house contract, and any notable clauses in your loan with the bank.

    AIP is worthless, no half decent solicitor will let you sign a contract without a full loan offer.

    AIP is so you know what you can bid on a house, that's all.


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    #2037
    bulmersgal
    Registered Users Posts: 1,174 ✭✭✭bulmersgal


    awec wrote: »
    Full loan offer.

    The full loan offer is sent by the bank to your solicitor, and they review it, and you usually sign it and the contract at the same time with the solicitor. Your solicitor should point out any notable clauses in your house contract, and any notable clauses in your loan with the bank.

    AIP is worthless, no half decent solicitor will let you sign a contract without a full loan offer.


    Does anybody know roughly how long it takes to get full loan offer? I had valuation on Thursday so just waiting on loan offer and for contracts. Contracts I'm waiting two weeks on already. Even though they said it would be quick sale.

    I don't mind waiting though as longer that takes the more money I will have saved.


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    #2038
    coughdrops
    Registered Users Posts: 170 ✭✭coughdrops


    lenny4545 wrote: »
    Has anybody had any problems with valuations (as in banks valuing house less than advertised price) during covid? Our salaries haven't been affected by covid so valuation only potential stumbling block left that might prevent us from buying first home.

    The valuation from the bank says something along the lines of it is too soon to know how Covid will impact on the value in the future, but the value (sale price) still stands for now, and they're happy with that value.


    They wrote it in a much more succinct way than I just did!


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    #2039
    guyfawkes5
    Registered Users Posts: 291 ✭✭guyfawkes5


    lenny4545 wrote: »
    Has anybody had any problems with valuations (as in banks valuing house less than advertised price) during covid? Our salaries haven't been affected by covid so valuation only potential stumbling block left that might prevent us from buying first home.
    No.

    There was one article a month or so ago about valuations dropping, but this was based on one quote from one guy in a semi-related field, so was probably just speculative BS.

    In reality valuations are just to establish basic facts about the house. When I look at my valuation it contains things like how many bedrooms does it have, does it have running water, 'could it reasonably be rented out', etc. It also contains things like price, but these are backed up by references to other similar properties in the area. It doesn't attempt to predict Covid's impact on prices.


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    #2040
    fifth
    Registered Users Posts: 3,135 ✭✭✭fifth


    Closing in 8 days. Fingers crossed nothing happens between now and then.

    Kitchen being fitted next week. My tiler has bailed out of his commitment to tile this week before the kitchen goes in. Now I can only get tiles laid afterwards, finished up to the counters, and I am not one bit happy about it, but the show must go on.


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    #2041
    Demur2020
    Registered Users Posts: 3 ✭Demur2020


    lenny4545 wrote: »
    Has anybody had any problems with valuations (as in banks valuing house less than advertised price) during covid? Our salaries haven't been affected by covid so valuation only potential stumbling block left that might prevent us from buying first home.

    Finally completing on my sale this week - Originally sale agreed at €345k but valuer reduced their value by 10% due to "Covid" - Caused big delays for me an the buyer - we renegotiated and they moved bank and got a different valuer who passed it no problem!


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