Saving/Applying for a mortgage 2015/16/17/18/19

mirrorwall14 · 20-07-2016 12:11pm

Thanks everyone. We lost our deposit exemption so it'll be tougher and a smaller house but **** it it will be ours and we'll just have to be savvy about room to expand

hawkeye_bmr · 20-07-2016 12:37pm

Finally....signed contracts...don't know what happens next, when are we meant to pay solicitors fee/remaining deposit etc?

Tasden · 20-07-2016 12:48pm

mirrorwall14 wrote: »

APPROVED!!!! APPROVED!!! Dancing around the sitting room!! EBS back to us so I'm guessing haven will approve to. OMG we can finally start properly moving on houses!!!

I am actually beaming after reading this!!! So so excited and happy for you!!!! After all the hassle you finally have it! Good things come to those who wait (and fight hard for it!)

Congrats!

mirrorwall14 · 20-07-2016 12:50pm

Haven approval in! And after a terribly rocky start with our broker he is playing a blinder and gone back to challenge the withdrawal of the deposit exemption. Loving him!

sibersha · 20-07-2016 1:23pm

Put the booking deposit down a new build on Monday :-)

However, have been reading a few articles there appears to be conflicting reports that the rebate will be backed to this week or some stating yesterday.

I assume the backdating of the rebate will only apply to mortgages drawn down this week?
And we won't miss out by one day because we paid our booking deposit on Monday instead of Tuesday?

Rew · 20-07-2016 2:44pm

sibersha wrote: »

Put the booking deposit down a new build on Monday :-)

However, have been reading a few articles there appears to be conflicting reports that the rebate will be backed to this week or some stating yesterday.

I assume the backdating of the rebate will only apply to mortgages drawn down this week?
And we won't miss out by one day because we paid our booking deposit on Monday instead of Tuesday?

The only relevant date is when it becomes yours. Booking deposits in reality mean nothing EA's just use them to protect their interests (their fee comes out of that before they pass it on to the vendor at the end of the process.

sibersha · 20-07-2016 3:29pm

Many thanks Rew

Thought as much but just wanted to verify, cheers.

hardCopy · 20-07-2016 4:51pm

Went sale agreed today! Eager to move as fast as possible and apparently so are the sellers. We're renting and it's an executor sale so hopefully won't be too much messing around. We've been looking since January, can't believe we finally got something.

angeldelight · 20-07-2016 5:28pm

Loving all the good news today! Especially delighted for you mirror wall

Irish_rat · 20-07-2016 8:32pm

mirrorwall14 wrote: »

APPROVED!!!! APPROVED!!! Dancing around the sitting room!! EBS back to us so I'm guessing haven will approve to. OMG we can finally start properly moving on houses!!!

Congrats mirrorwall :-)

mirrorwall14 · 20-07-2016 8:37pm

Irish_rat wrote: »

Congrats mirrorwall :-)

Thanks! I've just spent the last hour putting together every suitable property from daft and my home into a spreadsheet together with the estate agent details because we start ringing in the morning! Marked them all as clear for EBS (lower budget) and potentially Haven if things fall our way with them on the waiver. I'm sooooo excited!

Tasden · 20-07-2016 8:49pm

mirrorwall14 wrote: »

Thanks! I've just spent the last hour putting together every suitable property from daft and my home into a spreadsheet together with the estate agent details because we start ringing in the morning! Marked them all as clear for EBS (lower budget) and potentially Haven if things fall our way with them on the waiver. I'm sooooo excited!

Aahh that's so exciting!
And organised!

mirrorwall14 · 20-07-2016 8:55pm

Tasden wrote: »

Aahh that's so exciting!
And organised!

I like being organised!! We will have to compromise on location if we don't get the waiver tbh. Prices are so high in north kildare and we would need another year to get the rest of the deposit up to speed. We can't really wait a year since the life insurance we do have will be one year down at that stage already

ash xxx · 21-07-2016 9:00am

Hey everyone,

We are currently looking for a house and have applied through a few banks for the approval in principle. I was wondering does anyone know the deposit exemption rules across the different banks. Basically, AIB have told us that to avail of a deposit exemption, we would need a combined disposable income of €3950 a month, after mortgage payments (which will be approx €1200 p/m) and bills. I thought we had very decent salaries and would have about €5000 net pay a month, so to hear the level for the exemption was that high kind of shocked us! I was just wondering if that is common across all banks?

We've also found our dream house, so just waiting on the letter so we can bid! We have the full deposit amount for the houses asking price, but just thinking of the extras - solicitor, stamp duty etc! And that exemption could come in really handy for that!

Thanks
Ash

Sleepy · 21-07-2016 9:08am

Congrats mirrorwall14, delighted for you!

Santy2015 · 21-07-2016 6:02pm

Bank seems to be slow in releasing the deeds to the vendors solictor to pass onto our solictor for signing keys to be handed over. Was hoping to get them this week. Has anyone any experience with this?

Hazydays123 · 21-07-2016 9:31pm

How many of you are certain that this is your 'forever home' as opposed to somewhere that will get you by for 5-10yrs until you trade up?
Maybe I'm in the wrong place to be asking this but I know that a good few of you are first time buyers and I'm curious as to how people feel about 'starter homes' after the crash.

angeldelight · 21-07-2016 9:34pm

We certainly don't intend buying another house. We've deliberately bought one with a big garden so although the house is small we have room to extend

Hazydays123 · 21-07-2016 9:41pm

angeldelight wrote: »

We certainly don't intend buying another house. We've deliberately bought one with a big garden so although the house is small we have room to extend

Is it your first house?

Are you more mid 30s than mid 20s...if that isn't rude to ask!

I'm in my late 20s and have been renting for 10yrs so I want my own place but equally am too young to buy the house that i'll raise my family in. I'm happily sale agreed on a nice starter home.
I feel like a starter home is a perfectly legitimate concept, but we all know how that ended for the celtic tiger generation.

I think prices are low enough now that it's a sustainable enough idea but it certainly comes with its own risks...

angeldelight · 21-07-2016 9:48pm

I'm just about still in my 20s but I guess not the average buyer in this age bracket as I'm married with a baby. For us the deposit requirements of 20% would put us off buying again, and the thoughts of pumping loads of money into a house only to sell it on a few years later would drive me mad

Hazydays123 · 21-07-2016 9:59pm

angeldelight wrote: »

I'm just about still in my 20s but I guess not the average buyer in this age bracket as I'm married with a baby. For us the deposit requirements of 20% would put us off buying again, and the thoughts of pumping loads of money into a house only to sell it on a few years later would drive me mad

Yeah I suppose that the baby definitely focuses the mind!
We're married but have no interest in kids for a long time so maybe that's why we don't mind the temporariness of it all. If anything, I think i'd be depressed at the idea of this being my final home because I loved the searching process so much

I suppose nobody has the answer as to whether the market will at least return the price that any of us have paid in the future. But the crazy Dublin rental market has definitely pushed us into buying sooner than we would have otherwise.

greenorchard · 21-07-2016 10:17pm

Had our survey done today & there's no major red flags. The seller wants things to move quickly so we're hoping we'll be in there in September, fingers crossed!

greenorchard · 21-07-2016 10:24pm

Hazydays123 wrote: »

Yeah I suppose that the baby definitely focuses the mind!
We're married but have no interest in kids for a long time so maybe that's why we don't mind the temporariness of it all. If anything, I think i'd be depressed at the idea of this being my final home because I loved the searching process so much

I suppose nobody has the answer as to whether the market will at least return the price that any of us have paid in the future. But the crazy Dublin rental market has definitely pushed us into buying sooner than we would have otherwise.

I'm not sure it's our forever and ever home but I wouldn't call it a starter home either. Definitely somewhere we could easily stay long term. We have one child & plan to have another at some point & this house is suitable for that.

Who knows what way the market will go but we won't be worrying about that anytime soon as we won't be planning to sell in the foreseeable future. We're paying a lot more than our new neighbours did 3 years ago but we managed to save close to a 25% deposit so prices would have to drop a huge amount for us to go into negative equity.

Sleepy · 22-07-2016 12:55am

We're mid 30's and with any luck, this will be our forever home.

The only two things we compromised on were the lack of an en-suite (something I've never had so won't miss) and a lack of a garage, which is something I really only want for way down the line to restore cars in and which I'd be as happy doing in a rented lock-up somewhere nearby. We've gotten almost everything else on our wish list so unless there's a lotto win in my future and I can get those and my dream of an indoor pool somewhere else, or our neighbours are surprisingly awful, we're definitely buying the "forever home".

Staph · 22-07-2016 6:16am

We're sale agreed on a house that will suit our needs for a long time. It's a semi-d in north dublin with a separate garage and a big enough garden that we can extend into to get a bigger kitchen/house. We had no intention of buying a 'starter home', the process of buying one is enough! Early to mid 30s here.

SB_Part2 · 22-07-2016 9:59am

I don't think I'll ever want to leave this house because the location is unreal.

22-07-2016 10:24am

Hazydays123 wrote: »

How many of you are certain that this is your 'forever home' as opposed to somewhere that will get you by for 5-10yrs until you trade up?
Maybe I'm in the wrong place to be asking this but I know that a good few of you are first time buyers and I'm curious as to how people feel about 'starter homes' after the crash.

I'm looking for something that will only be for a few years, 5 years max probably if even that. I don't plan on settling down long term where I live now so there is no real doubt that it will just be a temporary place to live. I'm looking at city centre or close to it etc to make renting it out or selling easy. Long term I'd be looking to either self-build back home (preferably so I can build to my own specs) or buy in the general area as I wan't something far bigger than can bought in a city to be my "forever" home. I would also prefer to settle in a rural area but will really need to also as I'll have a farm to look after in the future.

Santy2015 · 22-07-2016 4:47pm

Getting keys later on today!!!!! I'm now grown up!!!

Tasden · 22-07-2016 5:13pm

Santy2015 wrote: »

Getting keys later on today!!!!! I'm now grown up!!!

now the real fun starts!

fermanagh_man · 22-07-2016 5:46pm

Closing date August 19th

I think this will be our forever home, unless we come into money in the future

Saving/Applying for a mortgage 2015/16/17/18/19

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