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13-03-2019, 23:18   #7726
Abbey127
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Hi what is the market rate to rent a room out in an apartment on the north side of Dublin. 20 mins away from the city centre.
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14-03-2019, 06:41   #7727
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Hi what is the market rate to rent a room out in an apartment on the north side of Dublin. 20 mins away from the city centre.
Entry point is about 550e for a single room, with most decent rooms costing 650+. Put it on the market and see how you get on.
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14-03-2019, 08:55   #7728
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Originally Posted by bush View Post
I'm coming up on a year in my first house which I plan to stay in for about 5 to 7 years. What the best course of action when upgrading? Overpay the mortgage or just save for a large deposit for the second house?
Do you plan to sell House A when buying House B? If you are not selling House A you will need a 20% deposit to buy House B. If you are selling House A, every euro extra you pay down on year one saves you about 1 euro interest at year 30 (as an example)
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14-03-2019, 09:59   #7729
charlietheminxx
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Is the offer letter from AIB valid for 12 months? Or is it just the underwritten AIP that is valid for 12 months?
Sorry, you're quite right. The loan offer itself is for 6 months.... hadn't copped that! Wow I hope my house is finished by then!
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14-03-2019, 10:39   #7730
el Fenomeno
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Can you apply for a mortgage with multiple institutions at the same time, to see which one of them gives you the best offer (and also to save time in case your first preference rejects you)?

I don't want a scenario where it's

1. Apply Bank 1
2. Wait 7-10 Days.
3. Get rejected.
4. Apply Bank 2
5. Wait another 7-10 days...

etc.

Does applying with multiple institutions disadvantage you in any way (i.e. do the second bank who check your credit rating get worried/annoyed when they see it's recently been checked by another institution too, or would they assume we were rejected by someone else before coming to them, even if it's really the case that we applied for both at the same time and haven't been rejected/approved by anyone yet)?
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14-03-2019, 11:03   #7731
JJJackal
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Originally Posted by el Fenomeno View Post
Can you apply for a mortgage with multiple institutions at the same time, to see which one of them gives you the best offer (and also to save time in case your first preference rejects you)?

I don't want a scenario where it's

1. Apply Bank 1
2. Wait 7-10 Days.
3. Get rejected.
4. Apply Bank 2
5. Wait another 7-10 days...

etc.

Does applying with multiple institutions disadvantage you in any way (i.e. do the second bank who check your credit rating get worried/annoyed when they see it's recently been checked by another institution too, or would they assume we were rejected by someone else before coming to them, even if it's really the case that we applied for both at the same time and haven't been rejected/approved by anyone yet)?
Get a mortgage broker?
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14-03-2019, 11:24   #7732
BadSanta
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Originally Posted by JJJackal View Post
Get a mortgage broker?
Some broker get commission from the bank.
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14-03-2019, 11:35   #7733
Creamy Goodness
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Some broker get commission from the bank.
of course they do, they bring the bank custom? You expect them to work for free?
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14-03-2019, 11:37   #7734
awec
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Quote:
Originally Posted by el Fenomeno View Post
Can you apply for a mortgage with multiple institutions at the same time, to see which one of them gives you the best offer (and also to save time in case your first preference rejects you)?

I don't want a scenario where it's

1. Apply Bank 1
2. Wait 7-10 Days.
3. Get rejected.
4. Apply Bank 2
5. Wait another 7-10 days...

etc.

Does applying with multiple institutions disadvantage you in any way (i.e. do the second bank who check your credit rating get worried/annoyed when they see it's recently been checked by another institution too, or would they assume we were rejected by someone else before coming to them, even if it's really the case that we applied for both at the same time and haven't been rejected/approved by anyone yet)?
You can apply at as many banks as you want at the same time. It makes no difference at all.
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14-03-2019, 11:55   #7735
Phileas Frog
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Originally Posted by Creamy Goodness View Post
of course they do, they bring the bank custom? You expect them to work for free?
Some brokers are paid for by the client.
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14-03-2019, 12:08   #7736
Creamy Goodness
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Originally Posted by Phileas Frog View Post
Some brokers are paid for by the client.

the person above suggested a broker, which was then responded to "some get commission". it's like anything... shop around.
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14-03-2019, 15:02   #7737
TheShow
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Personally I would not pay a broker.
They get paid handsomely by the banks for introducing the business. There are plenty of good brokers out there that will not charge you for the service.

A broker can, or you can submit multiple applications to all the different lenders for a mortgage. Do be aware though that each ICB search leaves a foot print and if there are multiple recent footprints, this can raise an eyebrow with the underwriters.

A broker, will however normally just go the the bank that pays the most commission.

Try and do a bit of research yourself on the different lenders and what rates they offer etc. Use their online calculators to get an idea of what amount is realistic given your circumstances.
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14-03-2019, 20:39   #7738
BadSanta
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Originally Posted by Creamy Goodness View Post
the person above suggested a broker, which was then responded to "some get commission". it's like anything... shop around.
Read below comments, that's what I mean. so be careful choosing broker. even paid broker some do get commision lol

Quote:
Originally Posted by TheShow View Post
Personally I would not pay a broker.
They get paid handsomely by the banks for introducing the business. There are plenty of good brokers out there that will not charge you for the service.

A broker can, or you can submit multiple applications to all the different lenders for a mortgage. Do be aware though that each ICB search leaves a foot print and if there are multiple recent footprints, this can raise an eyebrow with the underwriters.

A broker, will however normally just go the the bank that pays the most commission.

Try and do a bit of research yourself on the different lenders and what rates they offer etc. Use their online calculators to get an idea of what amount is realistic given your circumstances.
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14-03-2019, 20:43   #7739
Creamy Goodness
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Originally Posted by BadSanta View Post
Read below comments, that's what I mean. so be careful choosing broker. even paid broker some do get commision lol
It's hard to get all that from your original comment

"Some broker get commission from the bank."
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14-03-2019, 22:22   #7740
bush
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Quote:
Originally Posted by JJJackal
Do you plan to sell House A when buying House B? If you are not selling House A you will need a 20% deposit to buy House B. If you are selling House A, every euro extra you pay down on year one saves you about 1 euro interest at year 30 (as an example)
Ye I will be selling the first house. I'm on a 3 year fixed mortgage and was thinking of saving up and paying off a lump sum at the end. Shop around for a good variable rate and switch mortgage and overpay it a little bit every month while saving over the next 3 or 4 years towards the new house. Is this the best way to do this?
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