Saving/Applying for a mortgage 2015/16/17/18/19

Tipsy McSwagger · 14-07-2018 7:12am

I have a salary cert from PTSB filled in by employer, will other banks accept this?

Juwwi · 14-07-2018 1:33pm

Does anyone know what the process is if you want to overpay on your mortgage with Ulster Bank ?

Can you say go into the bank with cash and pay it off the mortgage or does it have to be done by setting up something online .

paulb06 · 16-07-2018 1:32pm

We are currently waiting on a Homebond Certificate to be issued before our Bank can release funds, anyone any idea if we can ring ourselves to get it issued to speed things up and if so who can we call? Our solicitor hasn't received it as of yet.

TheShow · 16-07-2018 1:45pm

Tipsy McSwagger wrote: »

I have a salary cert from PTSB filled in by employer, will other banks accept this?

Some might, and some might not is about as to the point as you can get.

As per the previous some banks insist on their own forms only and some don't, only one way to find out unfortunately....

TheShow · 16-07-2018 1:48pm

Juwwi wrote: »

Does anyone know what the process is if you want to overpay on your mortgage with Ulster Bank ?

Can you say go into the bank with cash and pay it off the mortgage or does it have to be done by setting up something online .

I'd imagine you need to contact the mortgage centre or your local mortgage advisor and arrange over the phone. Bear in mind if you're on a fixed rate agreement you wont normally be able to overpay during the term of the fixed rate agreement.

GingerLily · 16-07-2018 1:50pm

paulb06 wrote: »

We are currently waiting on a Homebond Certificate to be issued before our Bank can release funds, anyone any idea if we can ring ourselves to get it issued to speed things up and if so who can we call? Our solicitor hasn't received it as of yet.

Your solicitor should be asking their solicitor for that.

I highly recommend paying for things be be couriered when your waiting to close if post is the only option, it cost us 80 quid but probably saved us a week, and a lot less stress

TheShow · 16-07-2018 1:51pm

paulb06 wrote: »

We are currently waiting on a Homebond Certificate to be issued before our Bank can release funds, anyone any idea if we can ring ourselves to get it issued to speed things up and if so who can we call? Our solicitor hasn't received it as of yet.

Your solicitor should be following up with the builders solicitor for this as its part of the legal pack for the mortgage. Instruct your solicitor to chase it up immediately, that is afterall what you're paying them for.

I don't agree with the recommendation of paying for a courier, you're already paying you solicitor an extortionate amount. Instruct your solicitor to do the job you're paying them for. They can absorb courier fees if its urgent.

But its up to you in the end. (no disrespect to GingerLily :-) )

paulb06 · 16-07-2018 2:30pm

Does anyone know which company actually issue the home bond certificates and if I can ring them for an update?

My Solicitor has sent a letter to builder solicitor requesting information about it and I cant be arsed dealing with written correspondence and waiting for a response when they can easily pick up the phone as ask the same question.

goofy141 · 16-07-2018 3:11pm

We got our keys last weekend, just wanted to say thanks to everyone for the advice over the last while.

GingerLily · 16-07-2018 3:38pm

TheShow wrote: »

Your solicitor should be following up with the builders solicitor for this as its part of the legal pack for the mortgage. Instruct your solicitor to chase it up immediately, that is afterall what you're paying them for.

I don't agree with the recommendation of paying for a courier, you're already paying you solicitor an extortionate amount. Instruct your solicitor to do the job you're paying them for. They can absorb courier fees if its urgent.

But its up to you in the end. (no disrespect to GingerLily :-) )

Your solicitor won't absorb the cost, it's an option that some people don't know about so I think something to mention!

ELM327 · 16-07-2018 4:17pm

GingerLily wrote: »

Your solicitor won't absorb the cost, it's an option that some people don't know about so I think something to mention!

Yeah the solicitor will bill you for everything.
Thankfully mine were incompetent buffoons who issued me a "full and final" invoice which I discharged promptly. They then tried to bill me 200 more quid for incidental expenses and I told them I had no further funds as I paid the full and final invoice.
I won't name them here as we don't do that on boards (i was warned) but if anyone is buying and using a solicitor in Navan and wants a reccomendation on which solicitor to avoid, feel free to PM me

Interested Observer · 16-07-2018 9:32pm

Decided to accept a new job so I've basically invalidated all our mortgage approvals.

Guess nobody has experience of banks giving out a mortgage while on probation?

Couldn't turn down the job so guess we'll be waiting 6 months.

Bluefoam · 16-07-2018 10:20pm

I negotiated a three month probation...

bri007 · 16-07-2018 10:22pm

Try a broker they may be able to give advice, if you have a good work history up to the new job and it's in the same field of work you may be ok, but most banks look to have passed probation

moranr7 · 17-07-2018 9:29am

Hey,

We got full offer from EBS , but the offered a Variable rate. We were hoping to get a fixed rate. Do we not have a choice in this ?

THanks,

TheShow · 17-07-2018 12:04pm

Interested Observer wrote: »

Decided to accept a new job so I've basically invalidated all our mortgage approvals.

Guess nobody has experience of banks giving out a mortgage while on probation?

Couldn't turn down the job so guess we'll be waiting 6 months.

If you have an established career in the field that you are employed, then it wont be as big an issue as if you were totally changing career.

I had only started a new job also late last year, same work just a different company, and was on 6 months probation. Got mortgage approval in Feb with no issues and no conditions on the mortgage relating to the probation being completed etc.

TheShow · 17-07-2018 12:06pm

moranr7 wrote: »

Hey,

We got full offer from EBS , but the offered a Variable rate. We were hoping to get a fixed rate. Do we not have a choice in this ?

THanks,

Depends what you applied for, if you didnt specify fixed, then they will assume variable.
Just tell them now that you want to go fixed as a new offer letter will need to issue. Best get it sorted early on instead of trying to close the sale and get a new offer letter at the same time.

GingerLily · 17-07-2018 12:57pm

TheShow wrote: »

Depends what you applied for, if you didnt specify fixed, then they will assume variable.
Just tell them now that you want to go fixed as a new offer letter will need to issue. Best get it sorted early on instead of trying to close the sale and get a new offer letter at the same time.

I'm really surprised by this, I would have thought banks would take this very seriously after the tracker scandal

whatever76 · 17-07-2018 1:03pm

Good to see Mortgage Rate competition heating up
https://www.independent.ie/business/personal-finance/property-mortgages/kbc-bank-ups-the-ante-in-mortgage-market-war-with-cuts-in-fixed-rates-37126924.html

Hope BOI step up !!

Interested Observer · 17-07-2018 2:18pm

TheShow wrote: »

If you have an established career in the field that you are employed, then it wont be as big an issue as if you were totally changing career.

I had only started a new job also late last year, same work just a different company, and was on 6 months probation. Got mortgage approval in Feb with no issues and no conditions on the mortgage relating to the probation being completed etc.

Thanks, sounds promising. It is in the same line of work.

As suggested above I've contacted a broker so hopefully they can help up out.

TheShow · 17-07-2018 3:00pm

GingerLily wrote: »

I'm really surprised by this, I would have thought banks would take this very seriously after the tracker scandal

why are you surprised by it? if you dont specify what product you want to apply for they just approve you on the standard product.
Its up to the applicant to ensure the form is properly completed.

TheShow · 17-07-2018 3:09pm

Interested Observer wrote: »

Thanks, sounds promising. It is in the same line of work.

As suggested above I've contacted a broker so hopefully they can help up out.

I tried talking to brokers about my situation, and i got the impression that they were only interested in easy deals and were putting me off until probation was complete.
I was recommended to talk to a guy in the EBS and i'm glad I did because i moved into the new house over 3 months ago.

Try your own bank first, or even the EBS. if they are not receptive then by all means try a broker. also, don't pay a broker, they get paid by the banks.

cruizer101 · 17-07-2018 3:12pm

Surprises me that they are only offering variable, the three banks I applied to initial approval was not based on a specific product, and when going further we were asked specifically what we wanted. Its at least bad form by the bank to not lay out the options available.

GingerLily · 17-07-2018 3:44pm

cruizer101 wrote: »

Surprises me that they are only offering variable, the three banks I applied to initial approval was not based on a specific product, and when going further we were asked specifically what we wanted. Its at least bad form by the bank to not lay out the options available.

This is what happened with me. I was advised that once it went from AIP to a loan offer that the rate type I chose was locked in and to change it was a new application, I had several reminders to check my rate type and make sure I'm happy with it before proceeding.

TheShow · 17-07-2018 5:06pm

cruizer101 wrote: »

Surprises me that they are only offering variable, the three banks I applied to initial approval was not based on a specific product, and when going further we were asked specifically what we wanted. Its at least bad form by the bank to not lay out the options available.

AIP is different from full approval.
but I agree, that the mortgage advisor should have advised on rate issue before submission.

awec · 17-07-2018 5:31pm

We are with AIB (same as EBS I think) and when we moved from AIP -> Loan Offer we had to fill in a form detailing what we wanted to do regarding fixing etc.

It was the same form where you fill in the full address of the property you're looking to buy, the purchase price etc.

Creamy Goodness · 18-07-2018 10:06am

Who's the best for home insurance these days? I'm getting the mortgage with AIB and already have mortgage protection with them through Irish Life. Thinking of going with the AIB provider for ease of application and that they have 30% off (according to bonkers).

Also when's the best time to get the home insurance sorted? Can it be done like mortgage protection in that I can sort it all up until the date I get the keys?

Connavar · 18-07-2018 11:01am

Hey,
Im currently in sale agreed and just waiting on the legal side of things to finish up.
Just a question on where I should be keeping my deposit.
It's currently in a credit union which I wouldn't have access to outside weekends. (They have online but there are transaction limits)
Is it worth moving it to a normal bank account so I would have quicker access or can the solicitor request the funds from the credit union directly?

teaontap · 18-07-2018 11:06am

Connavar wrote: »

Hey,
Im currently in sale agreed and just waiting on the legal side of things to finish up.
Just a question on where I should be keeping my deposit.
It's currently in a credit union which I wouldn't have access to outside weekends. (They have online but there are transaction limits)
Is it worth moving it to a normal bank account so I would have quicker access or can the solicitor request the funds from the credit union directly?

I had my deposit in the credit union, when I needed to transfer the deposit I had to call in to sign for it. Not being able to do online was a bit of a pain alright. Only other option is to transfer in batches up to the maximum daily limits.

Liam McPoyle · 18-07-2018 1:56pm

Creamy Goodness wrote: »

Who's the best for home insurance these days? I'm getting the mortgage with AIB and already have mortgage protection with them through Irish Life. Thinking of going with the AIB provider for ease of application and that they have 30% off (according to bonkers).

Also when's the best time to get the home insurance sorted? Can it be done like mortgage protection in that I can sort it all up until the date I get the keys?

Try insuremyhouse.ie.

My renewal came out with FBD for €290, they offered me €175 like for like and took a further €15 off when i pressed. Policy is with Aviva and has all the bells and whistles. I wouldnt arrange it through your mortgage provider as they will generally pad the price with a cut for themselves.

Saving/Applying for a mortgage 2015/16/17/18/19

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