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21-07-2019, 22:04   #8566
Dolbhad
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Does Anyone know the average time for the loan pack to issue? Had underwritten AIP & went sale agreed almost 5 weeks ago. House valued by bank a week later & still no loan offer. They keep saying it’ll be issued in the coming days but as of Friday it still hadn’t. They’re not waiting on anything from me. Is this normal? I’m starting to worry.
Which bank is is? I was Ulster Bank and took about three weeks. However it is holiday time so I expect banks to have delay due to staff going on holidays so may be nothing to worry about.
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21-07-2019, 22:43   #8567
Corruptedmorals
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Depends on the bank. AIB have a standard set of 5 working days, must apply only when there is no outstanding paperwork etc. It took 2 days post sale information being sent for them to move it to underwriters and then 5 to issue the letter. Whatever bank that is, would definitely keep on to them. They might be struggling a bit with timelines with annual leave I suppose.
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22-07-2019, 12:04   #8568
Sunrise_Sunset
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Originally Posted by Misssally View Post
Does Anyone know the average time for the loan pack to issue? Had underwritten AIP & went sale agreed almost 5 weeks ago. House valued by bank a week later & still no loan offer. They keep saying it’ll be issued in the coming days but as of Friday it still hadn’t. They’re not waiting on anything from me. Is this normal? I’m starting to worry.
We are with PTSB and got ours within about 4 weeks I think.
That was last month. There could be slight delays now with staff being on annual leave.
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22-07-2019, 18:18   #8569
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I’m about to close this week and I’ve just had an email telling me the bank has requested another drive-by valuation.

Is this normal? Especially when the deal so close to closing?

The last one was done in April.
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22-07-2019, 18:55   #8570
GingerLily
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Originally Posted by Uncle_Joe View Post
I’m about to close this week and I’ve just had an email telling me the bank has requested another drive-by valuation.

Is this normal? Especially when the deal so close to closing?

The last one was done in April.
Is it a new build?
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22-07-2019, 20:28   #8571
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Does anyone know if any banks are currently providing exemptions? I do not need a particularly large one, but I would like to avoid asking my parents for the gifting of the small amount to get me across the line.
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22-07-2019, 21:34   #8572
Dolbhad
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Quote:
Originally Posted by Uncle_Joe View Post
I’m about to close this week and I’ve just had an email telling me the bank has requested another drive-by valuation.

Is this normal? Especially when the deal so close to closing?

The last one was done in April.
As another poster said if it’s a new build, a final valuation is needed. Just to note Valuations are only valid for 4 months.
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22-07-2019, 23:09   #8573
Misssally
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Originally Posted by Sunrise_Sunset View Post
We are with PTSB and got ours within about 4 weeks I think.
That was last month. There could be slight delays now with staff being on annual leave.
Yeah it’s ptsb. Good to know it’s not too unusual for them!
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23-07-2019, 09:00   #8574
charlietheminxx
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Does anyone know if any banks are currently providing exemptions? I do not need a particularly large one, but I would like to avoid asking my parents for the gifting of the small amount to get me across the line.
It usually depends on the bank, but I know when I first applied in August last year, there were none left to be had - we waited until January to get one.
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23-07-2019, 10:12   #8575
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It usually depends on the bank, but I know when I first applied in August last year, there were none left to be had - we waited until January to get one.
Apparently not all banks used all their exemptions last year, read it either in this thread or the Property Market thread.
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23-07-2019, 10:14   #8576
ELM327
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Back onto this thread again, about 18 months after getting the keys to my last property I want to sell up and buy a larger one with herself.
Booked appointment with PTSB next week, memories of how arduous the process was last time are still fresh in my mind!

Luckily my property has appreciated in the last 18 months and I put down a 20% deposit initially, so I have a fair bit of equity to move, coupled with joint savings near 20k.
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23-07-2019, 10:46   #8577
Mickiemcfist
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Quick query, would going through a broker in any way harm your chances? Why wouldn't everyone do so?
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23-07-2019, 10:48   #8578
ELM327
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Quick query, would going through a broker in any way harm your chances? Why wouldn't everyone do so?
Wouldnt harm your chances but theres no need to add a middleman if one is not needed

Some cases which the bank may not approve directly apparently get through via brokers - which as far as I can see, is the only reason to go with one.
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23-07-2019, 10:48   #8579
Creamy Goodness
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Quick query, would going through a broker in any way harm your chances? Why wouldn't everyone do so?
Going with a broker is only good if your situation is complicated. If you've a clean financial record there's no difference doing it yourself.
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23-07-2019, 11:20   #8580
Interested Observer
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Wouldnt harm your chances but theres no need to add a middleman if one is not needed

Some cases which the bank may not approve directly apparently get through via brokers - which as far as I can see, is the only reason to go with one.
Well that's a pretty big reason in itself. The other reasons are that it consolidates all your applications into one, you'll get good advice on the different products on the market, it speeds up any communications with the bank as the broker will have a direct line to someone, we also got to borrow more through the broker without need an exemption as they got the bank at account for variable income. I highly recommend using a broker, as someone who tried doing it myself initially.
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