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31-03-2020, 17:51   #16
IvoryTower
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Make sure your passport or drivers license is in date, that just stung us, both were out of date for my missus!both services closed as well, doh
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31-03-2020, 18:29   #17
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P21's are gone as of Jan 1st of this year also, so they don't exist for 2019, and if you don't have one already for preceding years you won't get one now.
Statement of Liability or whatever it's called now is what I meant....is it not still the P21? It's the balancing statement you get after filing your return.

3 of those!
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03-04-2020, 22:23   #18
lochgarman512
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Personal Loan

Would a personal loan repayment of €100 a month majorly impact an application? I’d be confident we’d well be compliant with all requirements for first time buyers regarding salary, deposit, etc
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03-04-2020, 22:36   #19
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Would a personal loan repayment of €100 a month majorly impact an application? I’d be confident we’d well be compliant with all requirements for first time buyers regarding salary, deposit, etc
It's all relevant but most likely no. Your mortgage application will be tested on ability to repay. If, after factoring in monthly living expenses (say €1,200), plus your loan of €100, you have enough to repay the mortgage (which they'll stress test), it won't impact.
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03-04-2020, 22:41   #20
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Would a personal loan repayment of €100 a month majorly impact an application? I’d be confident we’d well be compliant with all requirements for first time buyers regarding salary, deposit, etc

It will reduce what you can borrow by €100 miltiplied by 12 (months) by the term of the mortgage (years), so €36,000 for a 30 year mortgage.


You might not be affected by it in some circumstances, such as if you are limited by the 3.5 time cap rather than the repayment ability.
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03-04-2020, 23:15   #21
lochgarman512
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It's all relevant but most likely no. Your mortgage application will be tested on ability to repay. If, after factoring in monthly living expenses (say €1,200), plus your loan of €100, you have enough to repay the mortgage (which they'll stress test), it won't impact.
So if my current rent is more than the mortgage repayments and I’m good for saving for the deposit I’d likely be grand with €100 p/m?
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03-04-2020, 23:52   #22
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So if my current rent is more than the mortgage repayments and I’m good for saving for the deposit I’d likely be grand with €100 p/m?
We don't know enough about your monthly inflows and outflows but assuming you have no problem repaying the mortgage (stress tested) when factoring in your €100 loan plus living expenses (typically €1,300 per person give or take) you should be fine.
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04-04-2020, 13:01   #23
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What are people's experiences buying as a single person? I'm 24 and looking to get an apartment in the next few years. Current salary 32k. It Will be ~50K within 2 years, and I saved 70%. I should be in a good financial situation.
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04-04-2020, 14:34   #24
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What are people's experiences buying as a single person? I'm 24 and looking to get an apartment in the next few years. Current salary 32k. It Will be ~50K within 2 years, and I saved 70%. I should be in a good financial situation.
Just keep saving. You'll be fine. No need to rush right now as there's no stock going up and new builds halted. If you're 70% of deposit saved then now is a good time to put a bit more away.
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04-04-2020, 22:50   #25
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Applying for a mortgage at the minute just started with my local bank. I have application form filled in, sent statements for accounts not held in the bank, 3 months payslip, Revenue employment summary. Haven't managed to get the salary cert completed by my employer at the minute as the way things are working with people working from home making it difficult. I thought the bank would be able to proceed and offer me approval in principle without the salary cert ? So far they haven't told me anything in terms of what I can borrow just are requesting forms, documents etc. I kind of thought it would be just fill in the basics they tell you what you can borrow then you get into the detailed documents seems to be the other way around.

Again my first time applying so maybe its normal. Kind of want to know what I can borrow so I know what level of house I can buy to start looking so as to avoid me looking at houses way outside my budget.
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04-04-2020, 23:01   #26
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I'm at the same stage, just handed in all my documents yesterday. The person I was dealing with in both banks was able to tell me what I could borrow based on what they knew. If it's a straight forward application the online calculators will tell you. Then the amount changes with each loan, kid, etc.
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04-04-2020, 23:05   #27
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I'm at the same stage, just handed in all my documents yesterday. The person I was dealing with in both banks was able to tell me what I could borrow based on what they knew. If it's a straight forward application the online calculators will tell you. Then the amount changes with each loan, kid, etc.
Yes I have tried a few online calculators to get an idea alright. But while 3.5 times my base salary is straight forward. I get an annual bonus and then do a certain amount of weekend overtime which is guaranteed in my contract. Both are substantial amounts annually so depending how the bank counts this will swing the amount I can borrow a good bit.
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04-04-2020, 23:25   #28
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Just about to start the process as a single person. I’ve a good bit built up in savings , can prove I can save 1000 per month , accounts are cleanish and all paperwork ready to go. One thing that I’m worried will come against me. I have a heart condition. I needed surgery for it 3 years ago There is nothing so say I won’t need surgery in future as this is a lifelong condition. However, my cardiologist said as of now my heart is perfect. Could this be an issue?
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05-04-2020, 10:56   #29
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Just about to start the process as a single person. I’ve a good bit built up in savings , can prove I can save 1000 per month , accounts are cleanish and all paperwork ready to go. One thing that I’m worried will come against me. I have a heart condition. I needed surgery for it 3 years ago There is nothing so say I won’t need surgery in future as this is a lifelong condition. However, my cardiologist said as of now my heart is perfect. Could this be an issue?
No it should not be, the bank may require a health policy to cover the Life of the mortgage in case anything happens
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05-04-2020, 13:29   #30
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My mother sent me this, I applied for a mortgage last week. Had been intending to buy soon. I'll hold off
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