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28-10-2020, 11:50   #1621
MickyPearse
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First time buyer. Taking out a 150K Mortgage to buy a house for 280k. I am paying 130k myself.

BOI are offering me 2.9% fixed rate. I feel like I can do much better giving how much I am paying myself. Any advice would be greatly appreciated.
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28-10-2020, 11:55   #1622
Interested Observer
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Originally Posted by MickyPearse View Post
First time buyer. Taking out a 150K Mortgage to buy a house for 280k. I am paying 130k myself.

BOI are offering me 2.9% fixed rate. I feel like I can do much better giving how much I am paying myself. Any advice would be greatly appreciated.
Have a look here: https://www.ccpc.ie/consumers/money-...e-comparisons/

You can get 7 year fixed with Avant for 1.95%.
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28-10-2020, 11:58   #1623
Leozord
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Originally Posted by MickyPearse View Post
First time buyer. Taking out a 150K Mortgage to buy a house for 280k. I am paying 130k myself.

BOI are offering me 2.9% fixed rate. I feel like I can do much better giving how much I am paying myself. Any advice would be greatly appreciated.
you can get a good rate with avant money because of the low LPV you got: https://www.avantmoney.ie/mortgages/rates
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28-10-2020, 12:05   #1624
brisan
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Originally Posted by Milena009 View Post
Hi all,
Quick question
Where does everyone look for new build developments?
Especially upcoming phases for these
Other than daft / myhome.
We gonna be looking to buy mid next year, commuting distance to dublin when all comes back to "normal"
You could look at developments that interest and then ring the estate agents and ask them do they know if futher phases are planned and when they will come onstream
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28-10-2020, 12:11   #1625
brisan
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Originally Posted by Interested Observer View Post
Question, my parents are currently thinking of downsizing, they have no mortgage and the house being sold would be a lot more valuable (at least 100k) than the house being bought. The thing is, they wouldn't have a huge amount of cash so would probably struggle to pay an initial deposit to the estate agent on the house they're looking to buy. Is there any suggestion on what to do here? Options would be get a short term loan, or myself + siblings scrape the money together and lend it, and get it back when the house sells, but none of us are exactly loaded either.
Bank may offer a short term loan with the house as security
Make SURE the deposit is fully refundable
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28-10-2020, 12:27   #1626
td2008
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you can get a good rate with avant money because of the low LPV you got: https://www.avantmoney.ie/mortgages/rates
Also need to be near the city
https://www.thecork.ie/2020/09/18/mo...s-cork-market/


Cork City plus locations within 30km of Cork City Centre
Dublin County plus any town within 30km of Dublin County Border
Galway City plus locations within 30km of Galway City Centre
Limerick City plus locations within 20km of Limerick City Centre
Waterford City plus locations within 20km of Waterford City Centre
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28-10-2020, 13:15   #1627
Shoden
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Originally Posted by Sneak View Post
Pretty silly question just hoping I'm not missing something. My partner and I are looking at a house for 380k. We've been approved a 300k mortgage and we've 50k savings. We've been approved the full amount on the help to buy scheme which in my head adds up to 380k. Just wondering am I missing something?
Sounds right, therefore the max ye can afford after stamp duty and legal fees is around €375k. Good work!
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28-10-2020, 16:00   #1628
Whodanoob
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Just looking for some opinions. I'm a ftb, work south Dublin, looking to buy second half of next year. Should have about 90k to out into the mortgage. My question is, should I buy a 3 bed new build in Wicklow and get htb, or a 2/3 bed north county Dublin or possibly west Dublin. Ideally I would rent out a room or two. Max price about 300 for new build or about 275 for second hand. I like the idea of paying down a second hand, cheaper house more quickly. Apologies if this is not the right forum for this question!
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28-10-2020, 17:32   #1629
Bluefoam
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Originally Posted by Whodanoob View Post
Just looking for some opinions. I'm a ftb, work south Dublin, looking to buy second half of next year. Should have about 90k to out into the mortgage. My question is, should I buy a 3 bed new build in Wicklow and get htb, or a 2/3 bed north county Dublin or possibly west Dublin. Ideally I would rent out a room or two. Max price about 300 for new build or about 275 for second hand. I like the idea of paying down a second hand, cheaper house more quickly. Apologies if this is not the right forum for this question!
Wicklow seems to be highly desirable and robust in terms of property prices at the moment... I believe similar prices as Dun Laoghaire but more space to deveop new builds... North Wicklow is very desireable. It's possibly easier to commute to South Dublin from Wicklow. I commuted from The Northside for years and it took time, but was almost bearable...

It's really up to you... will it suit your lifestyle, where do you see yourself in the future, does it have a good pub close by (my own criteria), is it suitable for you to be able to get out and meet friends, socialise... get to whereever you socialise... they are some of the key things for me... the dredge of commuting to work is balanced by access to nice things...
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28-10-2020, 17:43   #1630
pooch90
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I applied through a broker nearly 3 weeks ago and no response yet
Jesus, that's nuts! I applied direct a few weeks ago. Initial meeting on the Friday, dropped in application the Monday, advisor submitted it on Wed and had approval that Friday!
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28-10-2020, 19:00   #1631
itsusuallyjazz
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Jesus, that's nuts! I applied direct a few weeks ago. Initial meeting on the Friday, dropped in application the Monday, advisor submitted it on Wed and had approval that Friday!
I spoke to the broker last week and he was sure all would be fine. To be honest I am getting a little concerned now though. Might chase him again tomorrow
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28-10-2020, 19:28   #1632
donnaille
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Yes, they are. We are a combined income of 140k, rent 1550, save anywhere between 2000 to 3000 a month, one is a public servant, the other one a professional, 1 child in school. The "exemption" AIB gave was 5k above the 3.5 LTI. I didn't know whether to laugh or cry.
Is there a chance that it’s more about outstanding loans, after school childcare etc. that are reducing the amount you can borrow (I.e. without the exemption you wouldn’t get the full 3.5x)? I’d always understood the exemptions to be a salary multiple so €5k sounds strange - but then again we are in different times!
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28-10-2020, 20:50   #1633
SarahS1987
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I spoke to the broker last week and he was sure all would be fine. To be honest I am getting a little concerned now though. Might chase him again tomorrow
Dont worry, we are first time buyers. Went through a broker, took 5 weeks for approval in principal and 2 weeks for full offer letter, just received it today. There are delays in the banks due to reduced staffing
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28-10-2020, 21:17   #1634
pooch90
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Dont worry, we are first time buyers. Went through a broker, took 5 weeks for approval in principal and 2 weeks for full offer letter, just received it today. There are delays in the banks due to reduced staffing
A lot of lenders have been slow but PTSB are one of the fastest atm so I'd be annoyed if I was the OP.
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28-10-2020, 21:51   #1635
Renjit
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Originally Posted by Whodanoob View Post
Just looking for some opinions. I'm a ftb, work south Dublin, looking to buy second half of next year. Should have about 90k to out into the mortgage. My question is, should I buy a 3 bed new build in Wicklow and get htb, or a 2/3 bed north county Dublin or possibly west Dublin. Ideally I would rent out a room or two. Max price about 300 for new build or about 275 for second hand. I like the idea of paying down a second hand, cheaper house more quickly. Apologies if this is not the right forum for this question!
If you are looking for city center connectivity (renting out to someone) then look no further. West dublin has some good developments right across the luas line. North is way up.
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