Post Reply  
 
 
Thread Tools Search this Thread
02-12-2020, 21:51   #1906
nerrad01
Registered User
 
Join Date: Dec 2012
Posts: 230
Quote:
Originally Posted by FaberX View Post
Who did you get the exemption with?
Bank of Ireland, i know UB and AIB have also started giving them out again too
nerrad01 is offline  
Advertisement
02-12-2020, 22:10   #1907
Renjit
Registered User
 
Renjit's Avatar
 
Join Date: Feb 2020
Posts: 806
Quote:
Originally Posted by nerrad01 View Post
Bank of Ireland, i know UB and AIB have also started giving them out again too
What is the requirement for exemption?
Renjit is offline  
02-12-2020, 23:35   #1908
recyclebin
Registered User
 
Join Date: Sep 2005
Posts: 2,942
Quote:
Originally Posted by Renjit View Post
What is the requirement for exemption?
For AIB, I was told you need the following net disposable income after mortgage, loans and childcare are paid for:

First Time Buyer
Single - €2,400 NDI
Joint - €3,650 NDI

Second Time Buyer
Single - €2,200 NDI
Joint - €3,500 NDI
recyclebin is offline  
02-12-2020, 23:58   #1909
TaDa
Registered User
 
Join Date: Sep 2012
Posts: 16
Quote:
Originally Posted by recyclebin View Post
For AIB, I was told you need the following net disposable income after mortgage, loans and childcare are paid for:

First Time Buyer
Single - €2,400 NDI
Joint - €3,650 NDI

Second Time Buyer
Single - €2,200 NDI
Joint - €3,500 NDI
What is this exemption in relation to if you mind me asking? Apologies if already explained but I couldn’t see it
TaDa is offline  
03-12-2020, 01:38   #1910
fin12
Registered User
 
Join Date: Oct 2014
Posts: 10,114
Quote:
Originally Posted by recyclebin View Post
For AIB, I was told you need the following net disposable income after mortgage, loans and childcare are paid for:

First Time Buyer
Single - €2,400 NDI
Joint - €3,650 NDI

Second Time Buyer
Single - €2,200 NDI
Joint - €3,500 NDI
Is 2,400 a month?

What’s the disposable income for the stress test?
fin12 is online now  
Advertisement
03-12-2020, 09:03   #1911
nerrad01
Registered User
 
Join Date: Dec 2012
Posts: 230
Quote:
Originally Posted by TaDa View Post
What is this exemption in relation to if you mind me asking? Apologies if already explained but I couldn’t see it
In terms of getting more than 3.5x your salary, BOI seemed the most flexible in terms assessing an application.

Its such a pain though, as you can be verbal approval for it, but they will only give you final approval AFTER you have gone sale agreed on a property.

So leaves the buyer in a difficult position as most estate agents wont accept a bid until you show proof of mortgage/ funds. a real catch 22
nerrad01 is offline  
03-12-2020, 11:17   #1912
narodvale
Registered User
 
Join Date: Mar 2011
Posts: 31
Quick one for someone who might be in the know. We are awaiting loan offer with a view to signing contracts before Christmas. We're also due to be married on Dec 23rd (Though I've said that twice before this year and Covid has proven me wrong).

My question is, are we better to wait and sign the contracts after we're married on Dec 23rd/24th, or does it make any difference? The mortgage will be in both our names.

Thanks
narodvale is offline  
03-12-2020, 13:38   #1913
misstyc
Registered User
 
Join Date: Jul 2013
Posts: 40
Quote:
Originally Posted by narodvale View Post
Quick one for someone who might be in the know. We are awaiting loan offer with a view to signing contracts before Christmas. We're also due to be married on Dec 23rd (Though I've said that twice before this year and Covid has proven me wrong).

My question is, are we better to wait and sign the contracts after we're married on Dec 23rd/24th, or does it make any difference? The mortgage will be in both our names.

Thanks
i think this might be better to ask your solicitor tbh given the potential ramifications...
misstyc is offline  
(3) thanks from:
03-12-2020, 16:25   #1914
narodvale
Registered User
 
Join Date: Mar 2011
Posts: 31
Fair point, and I have asked them as well, just awaiting a response so thought I would raise it here in the interim.
narodvale is offline  
Advertisement
03-12-2020, 19:20   #1915
brendanjkeegan
Registered User
 
brendanjkeegan's Avatar
 
Join Date: Nov 2020
Posts: 1
Irish Mortgage with Irish & UK Salary

Quote:
Originally Posted by Kalico92 View Post
Myself and herself are back from living in the UK and I've secured a permanent role here.

My better half has agreed a remote arrangement with some back and forth travel with her company so will still be paid a UK salary. When we're applying would we still be able to submit a joint application with my Irish and her UK salary combined to be considered for the borrowing amount? Or would only my Irish salary be eligible?
Thanks for adding this post - I will find myself in the same position in the new year, except I'm the one doing the commute and herself is the one resident and employed in Ireland.
Can you let me know how you got on? Any tips or advice would be helpful.
brendanjkeegan is offline  
05-12-2020, 12:22   #1916
recyclebin
Registered User
 
Join Date: Sep 2005
Posts: 2,942
Quote:
Originally Posted by recyclebin View Post
For AIB, I was told you need the following net disposable income after mortgage, loans and childcare are paid for:

First Time Buyer
Single - €2,400 NDI
Joint - €3,650 NDI

Second Time Buyer
Single - €2,200 NDI
Joint - €3,500 NDI
Sorry should have been clearer, this is on a Loan to Income exemption of 3.5.
Figures are per month.
recyclebin is offline  
Thanks from:
08-12-2020, 12:16   #1917
jimmy86
Registered User
 
jimmy86's Avatar
 
Join Date: Jan 2019
Posts: 96
Quote:
Originally Posted by clayfarm1234 View Post
based on the other people's experience here - how soon have KBC responded with the Letter of Offer after property valuation? They had promised us 2 weeks - but it is already past 2 weeks now.....They promised 3 weeks for AIP, but took 7 weeks!!! I need to sign my contracts within 28 days, and I just have 1 week left now
Did KBC issue you with a letter of offer yet?
jimmy86 is offline  
08-12-2020, 13:31   #1918
clayfarm1234
Registered User
 
clayfarm1234's Avatar
 
Join Date: Nov 2020
Posts: 17
Quote:
Originally Posted by jimmy86 View Post
Did KBC issue you with a letter of offer yet?
They did..had to do lot of pushing...did you get?
clayfarm1234 is offline  
08-12-2020, 13:58   #1919
Milena009
Registered User
 
Milena009's Avatar
 
Join Date: Oct 2020
Posts: 39
Hey guys,
General question
Partner and I are looking at housing estate that has next phase launching Early 2021

Now, for mortgage
How are banks looking at 1) if bonus is paid each year yet not guaranteed? - him
2) mine is a 5% of salary annually however 2021 would be my first year receiving it

Otherwise might need to a small exception on LTI

Thank you
Milena009 is offline  
08-12-2020, 14:05   #1920
mimimcmc
Registered User
 
mimimcmc's Avatar
 
Join Date: Jun 2015
Posts: 860
Quote:
Originally Posted by Milena009 View Post
Hey guys,
General question
Partner and I are looking at housing estate that has next phase launching Early 2021

Now, for mortgage
How are banks looking at 1) if bonus is paid each year yet not guaranteed? - him
2) mine is a 5% of salary annually however 2021 would be my first year receiving it

Otherwise might need to a small exception on LTI

Thank you
I'm in the same boat as your mister, get it every year but it is not guaranteed. Pretty sure it wasn't included (AIB) but i think each bank differs...
mimimcmc is offline  
Post Reply

Quick Reply
Message:
Remove Text Formatting
Bold
Italic
Underline

Insert Image
Wrap [QUOTE] tags around selected text
 
Decrease Size
Increase Size
Please sign up or log in to join the discussion

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Share Tweet