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

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Comments

  • Registered Users Posts: 24,133 ✭✭✭✭Sleepy


    I've read the Indo and Irish Times articles and neither have any real details of what's being proposed tbh!


  • Closed Accounts Posts: 415 ✭✭Jentle Grenade


    We're supposed to be closing too next week. In the two-ish months since we went sale agreed the prices have seem to risen dramatically enough (Cork city/suburbs). A house on the same road as ours sold for €22k over asking last week - we know the people who bought it.


  • Registered Users Posts: 363 ✭✭REFLINE1


    Do banks accept printed off e-statements as part of mortgage applications? I bank with BOI and get an e-statement every 6 months but wasnt sure if printing this off will suffice.


  • Registered Users Posts: 1,212 ✭✭✭Naid23


    REFLINE1 wrote: »
    Do banks accept printed off e-statements as part of mortgage applications? I bank with BOI and get an e-statement every 6 months but wasnt sure if printing this off will suffice.

    Our broker accepted them so you should be ok.


  • Registered Users Posts: 24,133 ✭✭✭✭Sleepy


    Ulster Bank accepted print outs from us.


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  • Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,053 Mod ✭✭✭✭L1011


    BOI will stamp printouts in branch to 'verify' them as such; or at least they have done so for me. Wasn't charged.


  • Registered Users Posts: 501 ✭✭✭tbayers


    3k per year can be given as a gift and not effect the life time inheritance tax as far as I am are so if they were to gift you 3k this year and your OH 3k then the same next year that's 12k that doesn't effect your life time engeritance tax which will be effected by a 25k lump sum.

    Or I believe that is the case.

    We have been given a generic letter to fill out from all banks to show a proof of a gift and not a loan. Hasn't been an issue so far

    They can gift 12k in one year. Parents joint account to the poster and his wife/gfs joint account and it's 12k tax free in one transaction without touching lifetime parent to child threashold. This can be done every year.

    Just bought a new house and this nearly caught us out. We went with AIB and we were told a gift can only match your savings ie if you have 10k of savings you cant use a gift higher than 10k. You can use it but will lose a lot of points on their decision to give you the loan.

    ON a separate note, same house is practically ready. It is a new build in a new estate. So basic builders finish. I have been going in and out nearly every second day so know what needs to be done, whats working/not working etc. Is there any need to get an official snag list done? Builders are saying sort it out between us and tbh their is a good amount of trust there.


  • Closed Accounts Posts: 1,951 ✭✭✭SB_Part2


    tbayers wrote: »
    Just bought a new house and this nearly caught us out. We went with AIB and we were told a gift can only match your savings ie if you have 10k of savings you cant use a gift higher than 10k. You can use it but will lose a lot of points on their decision to give you the loan.

    Never heard of this before.


  • Closed Accounts Posts: 6,751 ✭✭✭mirrorwall14


    There seems to be only suggestions as to what this scheme will be in throes articles?

    No word from EBS or our broker re underwriting again today. Looks like more waiting for us


  • Closed Accounts Posts: 14,158 ✭✭✭✭ Jason Hot Mace


    We're supposed to be closing too next week. In the two-ish months since we went sale agreed the prices have seem to risen dramatically enough (Cork city/suburbs). A house on the same road as ours sold for €22k over asking last week - we know the people who bought it.
    I bought in cork Suburbs too, prices are going crazy again


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  • Closed Accounts Posts: 2,203 ✭✭✭Parchment


    SB_Part2 wrote: »
    Never heard of this before.

    Never heard this either and i am getting a mortgage with AIB along with a gift of 25k.

    No issue regarding the amount at all. i think the OP should recheck.


  • Registered Users Posts: 2,554 ✭✭✭Irish_rat


    The Mulk wrote: »
    Noonan was saying it will be back dated to this month to prevent a slump for the rest of the year, so i'd say probably 1st July.
    That's providing it goes ahead at all.

    Wow that would be some timing if true.


  • Registered Users Posts: 1,212 ✭✭✭Naid23


    Put in an offer on a new house today so fingers crossed. Last bidding experience was horrendous so hopefully this goes smoother and less messing. :D:D


  • Closed Accounts Posts: 6,751 ✭✭✭mirrorwall14


    I'm about to lose my mind.

    Last wed we get in touch with the broker. we find out Haven and EBS have essentially the same underwriters. We find out that EBS underwriting have asked for a personal letter outlining how we plan to pay the mortgage. Since EBS are out of the office we write this immediately and send it in via our broker on Thursdayto Haven since the underwriters seem to be the bloody same

    Friday there is an underwriting meeting and no decision is made. Broker keeps us up to date. No word from EBS

    Yesterday no word from either of them.

    Today EBS ring for the ****ing letter that was requested a week ago and that we submitted to Haven.

    I keep broker up to date on situation and they are hinting it's EBSs fault for the delay. EBS just saying they thought it would better to wait until the girl dealing with us came back to ask us for the letter. She was on bloody annual leave!! She assured me that another girl x was looking after the case and would be in touch. Argh!!

    I want to ****ing strangle someone. I know, I know. It's not a no yet. But bloody hell come on.....


  • Registered Users Posts: 6,339 ✭✭✭How Strange


    we're approved in principle with haven. it took almost 5 weeks for it to go through. the house we intend to buy has been valued by the bank appointed valuer and we're meeting the broker today to sign some documents. I'm hoping it all goes *relatively* smoothly from here on in. I say that with all my fingers crossed!


  • Closed Accounts Posts: 6,751 ✭✭✭mirrorwall14


    we're approved in principle with haven. it took almost 5 weeks for it to go through. the house we intend to buy has been valued by the bank appointed valuer and we're meeting the broker today to sign some documents. I'm hoping it all goes *relatively* smoothly from here on in. I say that with all my fingers crossed!

    We got AIP easily within a week or two but things got more complicated since as we need a life cover waiver now for my husband as he has been refused cover. If there is any chance you may have issues with it I would start getting life insurance now (health conditions, previous cancer, family history, smoker etc)


  • Registered Users Posts: 2,463 ✭✭✭loveisdivine


    Got a letter from our solicitor today saying they have received the contracts and in return they have submitted 8 questions/requests to the vendors solicitor.

    They all seem fairly simple but surely the vendors solicitor would know already that our solicitor needs these things, like poof of planning permission for extension, some letter from the council about roadways etc. Why don't they just automatically get these things in order, why wait for our solicitor to request them?

    I know that's how it works for everyone but it seems a really slow way of doing things.


  • Closed Accounts Posts: 1,951 ✭✭✭SB_Part2


    Got a letter from our solicitor today saying they have received the contracts and in return they have submitted 8 questions/requests to the vendors solicitor.

    They all seem fairly simple but surely the vendors solicitor would know already that our solicitor needs these things, like poof of planning permission for extension, some letter from the council about roadways etc. Why don't they just automatically get these things in order, why wait for our solicitor to request them?

    I know that's how it works for everyone but it seems a really slow way of doing things.

    We had the same problems with an extension. It's really annoying that this info isn't provided straight away.


  • Moderators, Sports Moderators Posts: 8,679 Mod ✭✭✭✭Rew


    Got a letter from our solicitor today saying they have received the contracts and in return they have submitted 8 questions/requests to the vendors solicitor.

    They all seem fairly simple but surely the vendors solicitor would know already that our solicitor needs these things, like poof of planning permission for extension, some letter from the council about roadways etc. Why don't they just automatically get these things in order, why wait for our solicitor to request them?

    I know that's how it works for everyone but it seems a really slow way of doing things.

    Partially because it gives the solicitors something to justify their bill and partially because getting the contracts over ahead of that stuff means they can read and clear them while waiting on the other stuff. Also keep in mind if the vendor has never sold a house before they have just been blind sided by a bus of doc requirements and hoops to jump through which also takes time to sort.


  • Registered Users Posts: 501 ✭✭✭tbayers


    Parchment wrote: »
    SB_Part2 wrote: »
    Never heard of this before.

    Never heard this either and i am getting a mortgage with AIB along with a gift of 25k.

    No issue regarding the amount at all. i think the OP should recheck.

    I was indeed incorrect. We went with AIB in the end but it was Permanent TSB who had this condition. 100% positive on this too. Just got banks mixed up. Im sure, but less certain that BOI was the same too.


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  • Closed Accounts Posts: 6,751 ✭✭✭mirrorwall14


    Another potential underwriting meeting this morning apparently. And so we wait again...


  • Closed Accounts Posts: 1,951 ✭✭✭SB_Part2


    tbayers wrote: »
    I was indeed incorrect. We went with AIB in the end but it was Permanent TSB who had this condition. 100% positive on this too. Just got banks mixed up. Im sure, but less certain that BOI was the same too.

    BOI isn't the same. There was no issue with my gift money.


  • Registered Users Posts: 1,065 ✭✭✭Santy2015


    This grant or tax rebate has anyone any jist of what is going to happen with it? We drew down our funds last Friday. Will we miss out on it? Or is it once stamp is paid that we are recognised as FTB? That hasn't been paid to the best of my knowledge till keys and such are exchanged?


  • Closed Accounts Posts: 215 ✭✭Hazydays123


    Santy2015 wrote: »
    This grant or tax rebate has anyone any jist of what is going to happen with it? We drew down our funds last Friday. Will we miss out on it? Or is it once stamp is paid that we are recognised as FTB? That hasn't been paid to the best of my knowledge till keys and such are exchanged?

    I think it might be limited to new builds only. So if you bought a second hand property you don't need to worry about it..

    It's so hard to know whether you're making the right decisions anymore with the Government continuously meddling and shifting the goal-posts.


  • Closed Accounts Posts: 6,751 ✭✭✭mirrorwall14


    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!!!


  • Closed Accounts Posts: 215 ✭✭Hazydays123


    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!!!

    Absolutely delighted for you both!


  • Closed Accounts Posts: 6,751 ✭✭✭mirrorwall14


    I can't believe we are passed the window shopping phase and can actually proceed knowing they aren't going to tell us to F off at draw down. It's amazing!! Plus we are on holidays (well a cheap ass break in Cavan) so we can properly relax and celebrate now for the rest of the week


  • Registered Users Posts: 1,065 ✭✭✭Santy2015


    I think it might be limited to new builds only. So if you bought a second hand property you don't need to worry about it..

    It's so hard to know whether you're making the right decisions anymore with the Government continuously meddling and shifting the goal-posts.

    Technically it's a new build. Never lived in before and was built in 2008 and only recently floored, kitchen put in etc..


  • Registered Users Posts: 1,065 ✭✭✭Santy2015


    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!!


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  • Closed Accounts Posts: 415 ✭✭Jentle Grenade


    Delighted for you Mirrorwall :)


This discussion has been closed.
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