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Currently buying/selling a house? How is it going? READ MOD NOTE POST #1

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    #1922
    [Deleted User]
    Posts: 18,749 ✭✭✭✭ [Deleted User]


    Markitron wrote: »
    So you see no potential difference between receiving angry abusive calls from a guard and receiving them from, say, a nurse or a bus driver?

    if that guard is working & using a state phone, then yes absolutely their job is relevant, if they are doing it on their own time, then they are just an asshole, same for any teacher or shopkeeper.

    edit, anyway, sorry, totally off topic


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    #1923
    Donald Trump
    Registered Users Posts: 19,121 ✭✭✭✭Donald Trump


    bubblypop wrote: »
    if that guard is working & using a state phone, then yes absolutely their job is relevant, if they are doing it on their own time, then they are just an asshole, same for any teacher or shopkeeper.

    edit, anyway, sorry, totally off topic




    Not at all. A guard is always a guard. They are never not a guard i.e. "on their own time".


    They also have power that you do not.


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    #1924
    Padre_Pio
    Registered Users Posts: 4,947 ✭✭✭Padre_Pio


    Donald Trump wrote: »
    Not at all. A guard is always a guard. They are never not a guard i.e. "on their own time".


    They also have power that you do not.

    "I will faithfully discharge the duties of a member of the Garda Síochána with fairness, integrity, regard for human rights, diligence and impartiality, upholding the Constitution and the laws and according equal respect to all people"

    There is no "except when I'm off duty".


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    #1925
    [Deleted User]
    Posts: 18,749 ✭✭✭✭ [Deleted User]


    Donald Trump wrote: »
    Not at all. A guard is always a guard. They are never not a guard i.e. "on their own time".


    They also have power that you do not.

    You are right, a guard is always a guard.
    They can however be 'off duty'
    I know what powers gardai have, and I also know that they are people same as everyone else, they can have bad days, same as everyone else, they can have worries, same as everyone else.

    If you want to discuss this further, i would suggest starting a different thread, it is off topic here.


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    #1926
    Monitor1985
    Registered Users Posts: 43 ✭Monitor1985


    Quick question regarding overpayments and interest rates.

    My interest rate is 2.6% for 5 years total term of mortgage is 35 years, monthly repayment €440.90 and I overpay by €59.10.

    If I go onto the same interest rate of 2.6% for a following 5 years will my monthly repayment remain €440.90 or reduce to €412.65 as I've overpayed the €59.10 monthly?

    I've opted to keep the term the same and reduce payments, I'm just wondering if this is how it works when starting a new fixed term.


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    #1927
    Claw Hammer
    Registered Users Posts: 6,163 ✭✭✭Claw Hammer


    sweet_trip wrote: »
    Anyway, I don't have a solicitor as I've yet to buy a house. I'll go get one when I go sale agreed somewhere. I don't think there's anything I could do in terms of reporting it.

    .

    You don't have a solicitor and you are bidding on houses? Houses with problems? Is the house you are taking about a repossession?


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    #1928
    Glory83
    Registered Users Posts: 54 ✭✭Glory83


    Monitor1985 wrote: »
    Quick question regarding overpayments and interest rates.

    My interest rate is 2.6% for 5 years total term of mortgage is 35 years, monthly repayment €440.90 and I overpay by €59.10.

    If I go onto the same interest rate of 2.6% for a following 5 years will my monthly repayment remain €440.90 or reduce to €412.65 as I've overpayed the €59.10 monthly?

    I've opted to keep the term the same and reduce payments, I'm just wondering if this is how it works when starting a new fixed term.

    It will certainly drop because they calculate the recurrent monthly payment based on the total principal that is left to clear.


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    #1929
    ELM327
    Registered Users Posts: 21,520 ✭✭✭✭ELM327


    Claw Hammer wrote: »
    You don't have a solicitor and you are bidding on houses? Houses with problems? Is the house you are taking about a repossession?
    You don't *need* a solicitor until you go sale agreed and the loan pack is being prepared.


    when I bought my first property this was how I found it anyway.


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    #1930
    sweet_trip
    Closed Accounts Posts: 275 ✭✭sweet_trip


    Claw Hammer wrote: »
    You don't have a solicitor and you are bidding on houses? Houses with problems? Is the house you are taking about a repossession?


    No it's not a repossession or a distressed asset. I asked that.

    I've never used a solicitor before so I don't have one. What's the point in ringing one up now and saying hi yeah I'm looking at buying a house but nowhere near any sale agreed or deposit yet.


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    #1931
    Claw Hammer
    Registered Users Posts: 6,163 ✭✭✭Claw Hammer


    sweet_trip wrote: »
    No it's not a repossession or a distressed asset. I asked that.

    I've never used a solicitor before so I don't have one. What's the point in ringing one up now and saying hi yeah I'm looking at buying a house but nowhere near any sale agreed or deposit yet.

    First of all, when you do have a bid accepted, the first thing you will be asked, after the booking deposit, is the name of your solicitor. If you don't have one at that stage you will look amateurish and may well find yourself down the queue of aspirant bidders.
    Even if you are staying in the deal, you will only have a very short time to find a solicitor. This is not something to be rushed. You should be getting personal recommendations before engaging a solicitor. Charges vary a lot and some are competent and some are not. there are many former solicitors who have been struck off for dishonesty. I saw one two hours ago who was jailed for dishonesty and served a sentence.


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    #1932
    WeeCuppaCha
    Registered Users Posts: 96 ✭✭WeeCuppaCha


    Just on the topic of solicitors. I have used the same solicitor when purchasing and selling my previous house. I have now moved counties and plan to buy a house here. Would it be more advisable to engage a local/new solicitor? I would most likely get a reduced fee for return business from my previous solicitor, but would forego this to avoid any potential difficulties.


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    #1933
    Claw Hammer
    Registered Users Posts: 6,163 ✭✭✭Claw Hammer


    WeeCuppaCha wrote: »
    Just on the topic of solicitors. I have used the same solicitor when purchasing and selling my previous house. I have now moved counties and plan to buy a house here. Would it be more advisable to engage a local/new solicitor? I would most likely get a reduced fee for return business from my previous solicitor, but would forego this to avoid any potential difficulties.

    Were you happy with the current solicitor? Better the devil you know!


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    #1934
    WeeCuppaCha
    Registered Users Posts: 96 ✭✭WeeCuppaCha


    Claw Hammer wrote: »
    Were you happy with the current solicitor? Better the devil you know!

    I have no complaints. I just wasn’t sure if it made more sense or made it in any way easier to use a more local firm.


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    #1935
    brisan
    Registered Users Posts: 2,242 ✭✭✭brisan


    Advice to anyone buying
    Some solicitors offer a fixed fee service ,some work on a percentage of the purchase price
    I could never figure out how the work on a 600k property was worth twice as much as the work on a 300k property
    Shop around on price and recommendations


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    #1936
    brisan
    Registered Users Posts: 2,242 ✭✭✭brisan


    cnocbui wrote: »
    Someone in the currently buying/selling thread mentioned their solicitors fees were around €5,000, and nearly choked.
    Seeing as some solicitors charge 1.25% plus VAT I am not surprised

    http://www.moneyguideireland.com/legal-fees-and-charges-when-buying-a-house.html#:~:text=There%20are%20no%20set%20prices,Shop%20around.


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    #1937
    guyfawkes5
    Registered Users Posts: 291 ✭✭guyfawkes5


    WeeCuppaCha wrote: »
    Just on the topic of solicitors. I have used the same solicitor when purchasing and selling my previous house. I have now moved counties and plan to buy a house here. Would it be more advisable to engage a local/new solicitor? I would most likely get a reduced fee for return business from my previous solicitor, but would forego this to avoid any potential difficulties.
    It's a small advantage in terms of isolated cases of local knowledge being handy and calling into the office for signatures, but in my experience it pales in comparison to reliability and cost.


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    #1938
    limnam
    Registered Users Posts: 9,152 ✭✭✭limnam


    brisan wrote: »
    Advice to anyone buying
    Some solicitors offer a fixed fee service ,some work on a percentage of the purchase price
    I could never figure out how the work on a 600k property was worth twice as much as the work on a 300k property
    Shop around on price and recommendations


    I would have thought the same for an EA


    In fact I would have thought houses/apartments at the lower price range would get much more viewing and more work involved.


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    #1939
    sweet_trip
    Closed Accounts Posts: 275 ✭✭sweet_trip


    I was budgeting about €5000 for solicitor, stamp duty, engineer etc but looks like I could be paying a lot more by the sounds of it. Which in turn makes me less able to afford a house. woo.


    It's also the reason why I don't have a solicitor already involved. Say if I had to consult the solicitor on what to do regarding my earlier predicament, how much would i have spent just for getting some advice? money i don't have to spend tbh.



    When I could just talk to the bank mortgage advisor and estate agent and use my own common sense.





    But I'll have to think about which solicitor I'm going to go for. might be no harm to send off a few emails asking for rates and who's available at the moment.


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    #1940
    brisan
    Registered Users Posts: 2,242 ✭✭✭brisan


    limnam wrote: »
    I would have thought the same for an EA


    In fact I would have thought houses/apartments at the lower price range would get much more viewing and more work involved.
    its a lot easier to sell a house for 300k in Dublin than it is to sell a 3 million house
    However the legal work involved is roughly the same
    Why people use EAs is beyond me


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    #1941
    limnam
    Registered Users Posts: 9,152 ✭✭✭limnam


    brisan wrote: »
    its a lot easier to sell a house for 300k in Dublin than it is to sell a 3 million house
    However the legal work involved is roughly the same
    Why people use EAs is beyond me


    Sure,



    But there's probably not a massive difference between say a 300k and 500/600/700


    The latter would probably have less viewers and slightly longer times to sell depending where they're but I wouldn't have thought enough to require the extra few bob.


    You would hope the amount of viewings on a 3 mil house would be very small :)


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    #1942
    Kaybaykwah
    Registered Users Posts: 3,096 ✭✭✭Kaybaykwah


    WeeCuppaCha wrote: »
    I have no complaints. I just wasn’t sure if it made more sense or made it in any way easier to use a more local firm.



    If he did good on your two first deals, and can lower the price somewhat, I would go back to the one you know.


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    #1943
    combat14
    Registered Users Posts: 2,100 ✭✭✭combat14


    sweet_trip wrote: »
    I was budgeting about €5000 for solicitor, stamp duty, engineer etc but looks like I could be paying a lot more by the sounds of it. Which in turn makes me less able to afford a house. woo.


    It's also the reason why I don't have a solicitor already involved. Say if I had to consult the solicitor on what to do regarding my earlier predicament, how much would i have spent just for getting some advice? money i don't have to spend tbh.



    When I could just talk to the bank mortgage advisor and estate agent and use my own common sense.





    But I'll have to think about which solicitor I'm going to go for. might be no harm to send off a few emails asking for rates and who's available at the moment.


    how come the solicitor conveyancing fees are not transparently on their web pages like the price of a pint outside a pub

    it's an absolute disgrace ....


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    #1944
    1sttimebuyer20
    Registered Users Posts: 32 ✭1sttimebuyer20


    2 areas to offer some input on, 1- advice for a good solicitor, 2 - my stage of buying

    1 - was sale agreed, house valued, surveyed, contracts exchanged (but not signed) early March, I was quoted €1500 fixed for solicitor I did work experience with many years ago. To cut a long story short, things fell apart, and the solicitor did not charge me despite the time she invested - but she has had some referrals and I will be using her again.

    2- as mentioned above, was sale agreed in Naas, new information came to light on the house very late in the process, I reduced my offer as a result, seller dragged their heals, I got annoyed and walked away (essentially the house next attached to it has sold for €20k less back in November, was in better nick, the surveyor also found very shady plumbing work)

    Fast forward to now, I’ve decided to buy a new build instead, including the first time buyer HTB, I will be putting down the full 30% deposit.

    I’m at a funny time in my life, I’m 30, back living with my parents to save for the mortgage, I do think there will be price drops next year, but with that comes more difficult my accessing finance, I am buying a home for life, not to sell in 5 years, so the price drop I think will happen, won’t make me lose any sleep, I also don’t see the drop being a crazy amount, certainly not 30% so I won’t land in negative equity. I genuinely fear if I miss this opportunity, I could be 18 months more at home. I’m in no way panic buying, I’ve been trying to find the right home in this area since September last year.

    My advice - if you have a decent deposit, push ahead, if you have the bare minimum 10% and are not buying a home for life, rethink


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    #1945
    NeitherJohn
    Registered Users Posts: 623 ✭✭✭NeitherJohn


    combat14 wrote: »
    how come the solicitor conveyancing fees are not transparently on their web pages like the price of a pint outside a pub

    it's an absolute disgrace ....

    You usually get a schedule of fees from them if you choose to engage.


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    #1946
    Bluefoam
    Registered Users Posts: 7,718 ✭✭✭Bluefoam


    Anyone who is having trouble with your mortgage because of the covid payments, please email your fine Gael councillor... There is movement in government to do something, Pascal Donoghue is the person with ownership of this issue, but it's not happening quickly enough... Make yourself heard. Mention Pascal D...


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    #1947
    El Guapo!
    Registered Users Posts: 12,430 ✭✭✭✭El Guapo!


    Bluefoam wrote: »
    Anyone who is having trouble with your mortgage because of the covid payments, please email your fine Gael councillor... There is movement in government to do something, Pascal Donoghue is the person with ownership of this issue, but it's not happening quickly enough... Make yourself heard. Mention Pascal D...

    They won't do anything.
    I've already contacted Pascal Donohoe about the issue everyone is having and he's washed his hands of it.
    Here's the reply I received:

    The Minister for Finance and Public Expenditure and Reform, Mr Paschal Donohoe, TD, has asked me to thank you for your recent email in relation to your mortgage application in the context of the Covid-19 situation.

    The Minister has asked me to say that he appreciates the concerns you have raised in your email about your mortgage approval.  At a general level, the Minister wishes to indicate that there are certain legal and regulatory requirements governing the provision of residential mortgage credit to consumers.  These include a requirement on lenders to collect appropriate and relevant information from the borrower for the purposes of assessing an application for mortgage credit, and then a requirement that mortgage credit should only be provided to consumers where the creditworthiness assessment indicates that the borrower’s obligations are likely to be met in the manner required under the proposed credit agreement.  Within that framework, it is then a matter for individual lenders to manage their own processes for the various mortgage application, consideration, approval and granting stages.

    Lenders are aware that many of their customers have been impacted, either directly or indirectly, by the current Covid-19 crisis and they have supports in place to assist customers across a range of areas, including in relation to the mortgage provision process and will continue to bring as much flexibility as possible to assist Covid-19 impacted customers.  Therefore, if you are concerned about any aspect of a mortgage offer you have or expect to receive from a particular lender, the best approach is to discuss the matter with your lender (or if applicable your mortgage broker) in the first instance.  (In that regard the Banking & Payments Federation Ireland (BPFI), which is the representative body for the banking industry, published an FAQ as guidance for customers who are currently engaged in the mortgage application process and who may have questions as to how this might be impacted by Covid-19 and this is attached for information https://www.bpfi.ie/key-topics/mortgages-covid-19-support-faq/).

    However, ultimately it is a business and commercial matter for individual lenders to set their own lending policies and to make their own lending decisions -  including in relation to the nature and type of income to take account of in a mortgage application assessment - and the Minister cannot instruct banks in that regard.   Nevertheless, you may also wish to note that in relation to any Covid-19 related matter, or indeed in relation to any other issue which arises between a consumer and a lender, the general consumer protection framework available to consumers continues to apply.  This framework places a number of obligations on all regulated lenders including the obligation to act honestly, fairly, transparently and professionally, taking account of the rights and interests of the consumer, at all stages of the mortgage process and including when granting mortgage credit. Therefore, if you are still not satisfied with the approach taken by your lender at any stage of this process, then the complaints framework of the Central Bank Consumer Protection Code will be available to you.

     

    Yours sincerely


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    #1948
    Bluefoam
    Registered Users Posts: 7,718 ✭✭✭Bluefoam


    That is absolutely shocking... Literally throwing us under the bus.

    They create the problem where we cannot draw down our loans and tell us to fend for ourselves???

    They are a disgrace!


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    #1949
    Housebuying
    Registered Users Posts: 54 ✭✭Housebuying


    I've noticed 5 houses in my area whose sale agreed fell through in the last couple of days. Some were sale agreed a long time.


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    #1950
    brisan
    Registered Users Posts: 2,242 ✭✭✭brisan


    Bluefoam wrote: »
    That is absolutely shocking... Literally throwing us under the bus.

    They create the problem where we cannot draw down our loans and tell us to fend for ourselves???

    They are a disgrace!
    I think it was more or less the Chinese Government that caused the problem.
    Our Government done what every other rational government the world over done You think its bad now,wait another 6 months and Governments worldwide stop paying supports and see what happens .
    A friends brother lost his job in Bristol
    94 pound a week dole and a mortgage of 650 a month
    Things are going to get rough.
    https://www.theguardian.com/business/2020/jun/23/trafford-centre-administration-intu-lakeside-rent

    If those shops close even for a short while they may never re open
    The only hope is that one of the vaccines in trials works ,although reports so far indicate that vaccine will only work for a limited time


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    #1951
    Bluefoam
    Registered Users Posts: 7,718 ✭✭✭Bluefoam


    brisan wrote: »
    I think it was more or less the Chinese Government that caused the problem.
    Our Government done what every other rational government the world over done You think its bad now,wait another 6 months and Governments worldwide stop paying supports and see what happens .
    A friends brother lost his job in Bristol
    94 pound a week dole and a mortgage of 650 a month
    Things are going to get rough.
    https://www.theguardian.com/business/2020/jun/23/trafford-centre-administration-intu-lakeside-rent

    If those shops close even for a short while they may never re open
    The only hope is that one of the vaccines in trials works ,although reports so far indicate that vaccine will only work for a limited time

    A vacine is unlikely... very few diseases have vacines
    things are going to get rough, but life must go on. The banks have contracts with customers, which should be honored. If we don't nurture economic diveristy throughout, then the whole system could collapse.

    When I say the government created the situation, I refer to the fact that they changed the conditions in which citizens can earn money in the free market. In essence they took away our right to earn. They however have not applied the same logic to the banks... basically saying the banks can operate in a free market (even though government owned), yet the people are to be restricted... That is not good for the people... Any of the people. The government (based on the letter above from Pascal Donoghue) have turned their backs on the people in favour of the banks.


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