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€100k deposit, €180k budget

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Comments

  • #62
    GreeBo
    Registered Users Posts: 27,022 ✭✭✭✭GreeBo


    tom_tarbucket wrote: »
    I know what your saying and this is all good and well.

    But OP is essentially pumping all his life savings and possibly all his start from scratch savings in to the house, meaning everything he has in life is tied in to this bloody house, and we all know the way house prices change etc

    I know its 6 of 1, half dozen of another really, but just annoying to have EVERYTHING tied up in a house
    I agree, I wouldn't tie all my savings up, but I would pump as much of my monthly income into it.
    Saving to pay off lump sums, when you consider the "rate" your savings will get you is actually costing your money.
    Woshy wrote: »
    Not in our experience either. We had 100k+ in cash when we got our mortgage and it didn't really help in getting a higher amount. That was fine with us though, the amount they did offer was just right.

    It does make your interest rates slightly lower because of the LTV ratio but that was it for benefits in our experience.

    We were also encouraged by our mortgage consultant from the bank to pay extra into the mortgage as often as we can (as we chose a variable rate). So they do encourage it.

    All that matters is the LTV, loan to value ratio, the deposit amount is irrelevant (other than the new CB change)


  • #63
    hadoken13
    Registered Users Posts: 630 ✭✭✭hadoken13


    P. Breathnach wrote: »
    All sales should appear on the register. There is no way of identifying cash sales.

    Figures are separately published showing the number of mortgages arranged. There are fewer mortgages than sales, so the difference is put down to cash sales.

    [Crude summary.]

    Ye that's what I thought. Don't know what the poster I quoted was getting at.


  • #64
    dynamited
    Closed Accounts Posts: 74 ✭✭dynamited


    Offer put in for 3 bed going for 200k but has been for sale since February ( originally was 240k in the summer)


    I've offered 175k to get the ball rolling as i know the EA's are getting desperate


  • #65
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    dynamited wrote: »
    Offer put in for 3 bed going for 200k but has been for sale since February ( originally was 240k in the summer)


    I've offered 175k to get the ball rolling as i know the EA's are getting desperate

    You should have moved and bought this year to avail of CGT exemption


  • #66
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    handlemaster wrote: »
    You should have moved and bought this year to avail of CGT exemption

    If it's a PPR it doesn't matter as the sales a CGT exempt anyway.


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  • #67
    Robbie32
    Registered Users Posts: 42 ✭Robbie32


    Think I know why the market is so crazy right now.
    Investor have and opportunity that if they buy before Dec 31st, and keep the property for 7 years they do not pay Capital Gains tax on that property.

    Explains why properties are being snapped up and driving prices up.....


  • #68
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    Robbie32 wrote: »
    Think I know why the market is so crazy right now.
    Investor have and opportunity that if they buy before Dec 31st, and keep the property for 7 years they do not pay Capital Gains tax on that property.

    Explains why properties are being snapped up and driving prices up.....


    This incentive has been there for two years ... your a little slow off the mark


  • #69
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,278 Mod ✭✭✭✭The_Conductor


    handlemaster wrote: »
    This incentive has been there for two years ... your a little slow off the mark

    I think what he meant to say- but didn't- is that the 7 year CGT relief expires on the 31st of December. It was one of the provisions announced in the budget.

    The joint owner relief (often used by landowners- as opposed to landlords) also expires on the same day.........

    Other reliefs- have onerous restrictions being applied from the same date.

    31st of December is D Day for a lot of people from a tax perspective.


  • #70
    Piriz
    Registered Users Posts: 1,268 ✭✭✭Piriz


    Conductor if u get a chance can you post about the other tax reliefs ending this year. Perhaps it might warrant a new thread to discuss who they will impact and what influence it will have on prices and affordability... Thanks


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