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Loan offer query

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  • 30-10-2020 12:38am
    #1
    cubatahavana
    Registered Users Posts: 990 ✭✭✭


    I’m checking my loan offer. At the very end it states a balance of funds necessary to complete the transaction. When I add those funds to the amount I’m borrowing, it gives me a figure of 8k over the value of the house I’m buying. I will speak with my broker and solicitor tomorrow, but has someone seen something similar?


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    #2
    Uncle Mclovin
    Registered Users Posts: 692 ✭✭✭Uncle Mclovin


    Probably an estimate to cover stamp duty, solicitor costs etc. associated with the sale.


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    #3
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    Uncle Mclovin wrote: »
    Probably an estimate to cover stamp duty, solicitor costs etc. associated with the sale.

    Makes sense


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    #4
    itsusuallyjazz
    Registered Users Posts: 72 ✭✭itsusuallyjazz


    My broker advised that at the time of draw down I needed to be able to cover
    the deposit,
    the stamp duty
    solicitors fees.

    He says drawdown wouldn't be allowed without these funds being available


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    #5
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    itsusuallyjazz wrote: »
    My broker advised that at the time of draw down I needed to be able to cover
    the deposit,
    the stamp duty
    solicitors fees.

    He says drawdown wouldn't be allowed without these funds being available

    Again, this makes sense
    Thanks


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