Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi all! We have been experiencing an issue on site where threads have been missing the latest postings. The platform host Vanilla are working on this issue. A workaround that has been used by some is to navigate back from 1 to 10+ pages to re-sync the thread and this will then show the latest posts. Thanks, Mike.
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

How long and how much did you save for a mortgage

2»

Comments

  • #52
    GingerLily
    Registered Users, Registered Users 2 Posts: 4,767 ✭✭✭GingerLily


    brisan wrote: »
    Its not Help To Buy
    Its either
    Help The Builder
    Or
    Help The Brickie
    Builders have built the HTB in to the price of a new build
    When the HTB ends the prices will drop the same way they increased when it was introduced

    I'm not so sure, plenty of houses in our estate were 495k 2 years ago and crept up to 500k now and they all sell out for each phase. 500k is above the HTB threshold so they're not using the grant. I'm sure some developments will witness a drop in prices but where the prices are competitive compared to second hand houses in the area (Dublin Suburbs for examples) I think HTB doesn't make as significant a difference.


  • #53
    whomitconcerns
    Registered Users, Registered Users 2 Posts: 4,381 ✭✭✭whomitconcerns


    Paul_Mc1988 wrote: »
    I never really saved I just didnt waste money and it built up in my current account. After going back to college post downturn I got a job in 2015. After 4 years I had 75k. Herself saved for two years and had 35k. So 110k in total. Bought a 440k house and used the whole 110k as a deposit. So 330k mortgage (parents paid for stamp duty and solicitors fees)

    House was a gutter and we done it up with cost 40k we managed to save the 40k in 7 months of pure frugality. So no loans taken out.

    Currently 11 months into the mortgage and with ulster bank you can overpay on a fixed so I'm plowing it off. Should have it played off in 8 years all things going well.

    Your going to repay about 50k a year... That's fair going!


  • #54
    Paul_Mc1988
    Registered Users, Registered Users 2 Posts: 748 ✭✭✭Paul_Mc1988


    whomitconcerns wrote: »
    Your going to repay about 50k a year... That's fair going!


    That's the plan. We have no loans. A 98 car and an 06 car and no plans to buy new. We have two decent jobs so we are not living frugally but were not living the high life at the same time.

    The overpayment is great every month the mortgage payment goes down and we use that to add to the overpayment.


  • #55
    TheW1zard
    Registered Users, Registered Users 2 Posts: 1,345 ✭✭✭TheW1zard


    Sinn Fein are getting me a gaf


  • #56
    Carter D
    Banned (with Prison Access) Posts: 31 ✭Carter D


    How does a gift work do they just need a letter from parents to say they are giving this much as a gift towards a mortgage?

    How much tax would I pay if got a 30k gift from parent towards a mortgage ?


  • #57
    pooch90
    Registered Users, Registered Users 2 Posts: 2,395 ✭✭✭pooch90


    Carter D wrote: »
    How does a gift work do they just need a letter from parents to say they are giving this much as a gift towards a mortgage?

    How much tax would I pay if got a 30k gift from parent towards a mortgage ?

    If its from a parent then you wouldn't have to pay Capital Gains Tax on it. Parents sign a gift letter stating they have no claim to the property.


  • #58
    Carter D
    Banned (with Prison Access) Posts: 31 ✭Carter D


    pooch90 wrote: »
    If its from a parent then you wouldn't have to pay Capital Gains Tax on it. Parents sign a gift letter stating they have no claim to the property.



    Thanks for the reply I thought thought you had to pay tax if it was a good amount.
    Does my parent have to do a bank transfer or does the bank care once they have the letter . Say they gave me 15k cash then 15k a few weeks later ?


  • #59
    TheW1zard
    Registered Users, Registered Users 2 Posts: 1,345 ✭✭✭TheW1zard


    Carter D wrote: »
    Thanks for the reply I thought thought you had to pay tax if it was a good amount.
    Does my parent have to do a bank transfer or does the bank care once they have the letter . Say they gave me 15k cash then 15k a few weeks later ?

    You can recieve 300k. Might be a bit more.


  • #60
    Geuze
    Registered Users, Registered Users 2 Posts: 13,758 ✭✭✭✭Geuze


    pooch90 wrote: »
    If its from a parent then you wouldn't have to pay Capital Gains Tax on it. Parents sign a gift letter stating they have no claim to the property.

    CGT is on the disposal of an asset.

    You are thinking of CAT.

    The parent to child allowance is 325k or 335k.


  • Advertisement
  • #61
    Yyhhuuu
    Registered Users, Registered Users 2 Posts: 798 ✭✭✭Yyhhuuu


    brisan wrote: »
    For one reason as you said kids
    Sickness is another
    As you get older you will take more baths ,I don't but my wife does
    Sale value in the future
    Kerb appeal ,bathrooms and Kitchens sell houses

    Baths can be dangerous getting in and out of for older people.

    Can I ask for a rental property would a walk in shower be better than a bath? My brother asked me this question. Would appreciate input.


  • #62
    s1ippy
    Banned (with Prison Access) Posts: 2,980 ✭✭✭s1ippy


    Toulouse wrote: »
    I knew I’d be going for a mortgage at some stage so when I got my first proper job at 24 I started saving €800 a month. I ended up saving that for 14 years before I did end up buying but that meant I had a decent deposit.
    Did you end up with €134,400!??


  • #63
    brisan
    Registered Users, Registered Users 2 Posts: 2,242 ✭✭✭brisan


    s1ippy wrote: »
    Did you end up with €134,400!??
    I would say a bit more when you add interest


  • #64
    brisan
    Registered Users, Registered Users 2 Posts: 2,242 ✭✭✭brisan


    Yyhhuuu wrote: »
    Baths can be dangerous getting in and out of for older people.

    Can I ask for a rental property would a walk in shower be better than a bath? My brother asked me this question. Would appreciate input.

    Bath with shower overhead is always better in a rental


  • #65
    pooch90
    Registered Users, Registered Users 2 Posts: 2,395 ✭✭✭pooch90


    Geuze wrote: »
    CGT is on the disposal of an asset.

    You are thinking of CAT.

    The parent to child allowance is 325k or 335k.

    Yep, sorry, wrong acronym!


Advertisement