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

MentalMario · 12-12-2016 10:13am

StupidLikeAFox wrote: »

I'm not sure what you mean by "if you had a car loan" - the banks will take into account any debt you have and that will act as a negative in your application. If you are talking about building up evidence of a repayment capacity, you would be better off putting that money into a savings account.

You could potentially get someone else to give you a loan - in terms of a mortgage the banks are happy once they get a letter saying the loan is non refundable, but what you do in the background is your own business

Thanks.

The loan wouldn't be to show repayment capacity. I definitely show that capacity already. There's a house after coming onto the market in the last few weeks that I like, a few months before I thought I'd be bidding.

It would be to bring my deposit up to €X +solictors fees so I can bid on a house I want right now, rather than wait a couple of months before I have it saved myself.

Utah · 12-12-2016 11:15am

Cyrus wrote: »

well anything like the cash back offers etc are only available direct

Incorrect. We got our 2% back and we used a broker.
Got the money 8 days after drawing down too, which was great.

Naid23 · 12-12-2016 11:17am

Utah wrote: »

Incorrect. We got our 2% back and we used a broker.
Got the money 8 days after drawing down too, which was great.

Thats really quick, i heard it was like a month or 2 before you got the cashback.

Cyrus · 12-12-2016 11:26am

Utah wrote: »

Incorrect. We got our 2% back and we used a broker.
Got the money 8 days after drawing down too, which was great.

good to hear, everything ive heard suggested otherwise

the aib cash contribution you dont get through a broker i believe

Utah · 12-12-2016 11:31am

Cyrus wrote: »

good to hear, everything ive heard suggested otherwise

the aib cash contribution you dont get through a broker i believe

Maybe.
We went with PTSB.

Zzippy · 12-12-2016 11:45am

MentalMario wrote: »

Thanks.

The loan wouldn't be to show repayment capacity. I definitely show that capacity already. There's a house after coming onto the market in the last few weeks that I like, a few months before I thought I'd be bidding.

It would be to bring my deposit up to €X +solictors fees so I can bid on a house I want right now, rather than wait a couple of months before I have it saved myself.

Banks usually want to see the source of funds - savings statements, proof of any lump sum payments and what they are from. I'd imagine they wouldn't look too favourably on a loan being used to fund a deposit

Naid23 · 12-12-2016 12:27pm

Hoping for some good news either today or tomorrow. After a really $hitty year, it would be nice to have some good news going into christmas!

Edit: Just got a phone call and the other bidder has pulled out so our offer has been put to the owner so they said they'll let us know tomorrow!

whiskeyman · 12-12-2016 8:34pm

Fingers crossed Naid!

Creme fraiche · 12-12-2016 9:46pm

Hi all,

newcomer to the thread, I’ve read back a couple of pages and feeling a bit low.

I’m 30, in a really good job paying €64K, 10% annual bonus (team target driven which I might miss) have €18K in savings and saving €1K a month, paying €350 in rent and paying €150 to help my girlfriend pay off her credit union loan (home improvement €5K) quicker. I also commit 6% of my salary to my pension.

She’s also 30, earns €1.5K (gross) but has her own house bought at the height of the boom, paid €285k for a terrace in not a great area. her mortgage is €700 (tracker) and have a lodger who pays €350 for a room. Other than the loan above she has no other irregular outgoings bar day-to-day expenses. At the moment she’s not saving

However I feel like we’re nowhere near being able to afford a deposit or even where to start. Do I try go the first time buyers route, or do we sell this house, get approx (20K profit if we can call it that), or try keep it and go it together.

I would really like to get a new build house close to our home (South Dublin/North Wicklow) area but houses seem to be way out of our range of €400K plus.

Anyone have any good advice? I’m planning to try and up my savings to €1500 after Christmas but then again I feel that’s still not enough.

whiskeyman · 12-12-2016 9:50pm

You're only saving 1k after paying 350 on rent on that salary?
That's as far as I got... I think you need to question your spending.

Creme fraiche · 12-12-2016 9:58pm

did forget to mention, the gf up until 2 months ago was on minimum wage. I paid all bills/groceries/petrol/tax/insurance. We did enjoy regular breaks away in Ireland, after the last one (september) I realised this wasn't going to get us anywhere.

StupidLikeAFox · 13-12-2016 12:14pm

I did some back of an envelope calculations for you OP:

Monthly Net Income
You 3426
Her 1458
Lodger 350
Total - 5234

Monthly Outgoings
Credit Union Loan 150
Rent 350
Mortgage 700
Total - 1200

There is a difference there of €4,034 per month - you could surely up it to €2k and still live relatively comfortable. Would you consider moving in with the GF? You would save a lot on on rent and meals

listermint · 13-12-2016 12:34pm

Erm, might be totally off the wall but why not move into her townhouse pay the 700 tracker and save away the pair of you. Where is the rush? you have a nice starter deposit and have a handy tracker under your belts.

Mink · 13-12-2016 2:38pm

MentalMario wrote: »

The loan wouldn't be to show repayment capacity. I definitely show that capacity already. There's a house after coming onto the market in the last few weeks that I like, a few months before I thought I'd be bidding.

It would be to bring my deposit up to €X +solictors fees so I can bid on a house I want right now, rather than wait a couple of months before I have it saved myself.

I'll put it to you this way, we had a loan when first applying for a mortgage and the amount we were offered was 15% less than what it would be without the loan. This was the same through a broker and direct.

The bank looks at loans/ childcare costs and any other obligation as potentially taking priority over the mortgage so they will lower the amount they can lend you.

If you can get a "gift" from someone so as to get over the hurdle and then have private arrangement to repay it as already suggested above.

Mink · 13-12-2016 2:42pm

Nothing happening here before Christmas break anyway. We chased up with EA as our solicitor still hadn't received contracts.

So apparently the vendor solicitor realised they needed the BER cert. We went Sale agreed on 1st November and EA sent the Sales Advice note to both solicitors on 7th Novemeber. The BER is already done as it was part of the property ad. So it's taken them a month to work out they don't have it.

I feel like this is going to take waaaay longer then I thought. I actually don't mind as long as seller doesn't pull out. Would rather move in Spring anyway.

Naid23 · 13-12-2016 3:41pm

Naid23 wrote: »

Hoping for some good news either today or tomorrow. After a really $hitty year, it would be nice to have some good news going into christmas!

Edit: Just got a phone call and the other bidder has pulled out so our offer has been put to the owner so they said they'll let us know tomorrow!

Owner has decided that they wont accept our offer and will decide after christmas - so basically they want to see if they can get more money and use our offer to increase it.
House is up and number of weeks and had 3 viewings with only us and another couple bidding on it. So so Frustrating!!!

We've told them that we want a yes/No answer this week or we are withdrawing our offer.

zedhead · 13-12-2016 6:59pm

Still waiting. Contracts arrived to our solicitor but there was no closing date and basically he said we'd be mad to sign them as they were. He was to go back and get more info and we heard nothing for 2 weeks. The vendors are buying a house in receivership and they can't give us a closing date until they get a closing date on their purchase. Their solicitor said they are doing everything they can to move things along but its unlikely we will hear anything at all this side of Christmas (very frustrating that work seems to just stop for december).

It's been nearly 4 months since we went sale agreed and to be honest I don't mind the wait, I just want some reassurance that the house is still ours and a little more communication so our calls/emails aren't going unanswered. The worst thing that can happen is their purchase can fall through and then we are back to square 1. I have been looking at the houses out there, but there is nothing else I really like enough to even go view. I don't want to put all my eggs in one basket, but I went and got attached to this house....really hoping the new year can bring some good news.

Anyone have any advice or has been through something similar?

q85dw7osi4lebg · 13-12-2016 7:09pm

zedhead wrote: »

Still waiting. Contracts arrived to our solicitor but there was no closing date and basically he said we'd be mad to sign them as they were. He was to go back and get more info and we heard nothing for 2 weeks. The vendors are buying a house in receivership and they can't give us a closing date until they get a closing date on their purchase. Their solicitor said they are doing everything they can to move things along but its unlikely we will hear anything at all this side of Christmas (very frustrating that work seems to just stop for december).

It's been nearly 4 months since we went sale agreed and to be honest I don't mind the wait, I just want some reassurance that the house is still ours and a little more communication so our calls/emails aren't going unanswered. The worst thing that can happen is their purchase can fall through and then we are back to square 1. I have been looking at the houses out there, but there is nothing else I really like enough to even go view. I don't want to put all my eggs in one basket, but I went and got attached to this house....really hoping the new year can bring some good news.

Anyone have any advice or has been through something similar?

All of this seems usual bar the fact that the receiver is willing to sell to a party that hasn't got a contract signed on their own property.

From my experience, receivers will only deal with parties who are cash, or at least sale agreed with contracts signed on their own home. Of course they are open to buyers with mortgage approval but they are usually very far down the pecking lime.

sadie1502 · 13-12-2016 7:13pm

zedhead wrote: »

Still waiting. Contracts arrived to our solicitor but there was no closing date and basically he said we'd be mad to sign them as they were. He was to go back and get more info and we heard nothing for 2 weeks. The vendors are buying a house in receivership and they can't give us a closing date until they get a closing date on their purchase. Their solicitor said they are doing everything they can to move things along but its unlikely we will hear anything at all this side of Christmas (very frustrating that work seems to just stop for december).

It's been nearly 4 months since we went sale agreed and to be honest I don't mind the wait, I just want some reassurance that the house is still ours and a little more communication so our calls/emails aren't going unanswered. The worst thing that can happen is their purchase can fall through and then we are back to square 1. I have been looking at the houses out there, but there is nothing else I really like enough to even go view. I don't want to put all my eggs in one basket, but I went and got attached to this house....really hoping the new year can bring some good news.

Anyone have any advice or has been through something similar?

The people that sold their house to us also were buying a house in receivership. But we stipulated we would not buy unless they moved regardless of what stage they were at. That's very frustrating for you. That could take months how long is a piece of string sorry but you really shouldnt keep all your eggs in one basket. We are in the house and they are renting well they were renting we were told it could take them six months for their sale to go through. I'd keep a look out to be honest for other properties.

zedhead · 13-12-2016 7:26pm

sadie1502 wrote: »

The people that sold their house to us also were buying a house in receivership. But we stipulated we would not buy unless they moved regardless of what stage they were at. That's very frustrating for you. That could take months how long is a piece of string sorry but you really shouldnt keep all your eggs in one basket. We are in the house and they are renting well they were renting we were told it could take them six months for their sale to go through. I'd keep a look out to be honest for other properties.

We didn't find out they were buying a house in receivership until 2.5 months had passed. Don't think that they will go with that deal now. The contracts we received had a lot of stipulations in about the contracts only being valid if their purchase completes. We are definitely still looking but just not happy with what is out there right now. I don't want to lower our standards while we still have the possibility of this one - but we may have to.

Reese Lively Cabinet wrote: »

All of this seems usual bar the fact that the receiver is willing to sell to a party that hasn't got a contract signed on their own property.

From my experience, receivers will only deal with parties who are cash, or at least sale agreed with contracts signed on their own home. Of course they are open to buyers with mortgage approval but they are usually very far down the pecking lime.

Yeh my partner mentioned this to me today. Before we knew it was a receivership sale, our estate agent told us that they just had to be sale agreed on their end before they could progress with their purchase.

axcel · 13-12-2016 7:39pm

Creme fraiche wrote: »

Hi all,

newcomer to the thread, I’ve read back a couple of pages and feeling a bit low.

I’m 30, in a really good job paying €64K, 10% annual bonus (team target driven which I might miss) have €18K in savings and saving €1K a month, paying €350 in rent and paying €150 to help my girlfriend pay off her credit union loan (home improvement €5K) quicker. I also commit 6% of my salary to my pension.

She’s also 30, earns €1.5K (gross) but has her own house bought at the height of the boom, paid €285k for a terrace in not a great area. her mortgage is €700 (tracker) and have a lodger who pays €350 for a room. Other than the loan above she has no other irregular outgoings bar day-to-day expenses. At the moment she’s not saving

However I feel like we’re nowhere near being able to afford a deposit or even where to start. Do I try go the first time buyers route, or do we sell this house, get approx (20K profit if we can call it that), or try keep it and go it together.

I would really like to get a new build house close to our home (South Dublin/North Wicklow) area but houses seem to be way out of our range of €400K plus.

Anyone have any good advice? I’m planning to try and up my savings to €1500 after Christmas but then again I feel that’s still not enough.

I wouldn't be so disheartened, it seems like you are getting the head down now. And you are in a better position than many with the savings you have to date.

If you wanted to go first time buyers, there are properties out there in your range. Yes it's getting to be dog eat dog out there, and getting into bidding is a nightmare but the right house will work out for you. There's new build in Newtownmountkenndey coming to market in January, these will be snapped up then no doubt but if you are willing to look slightly further afield that it seems like you are at the minute there are houses out there. Also don't restrict yourself, altho you might think you prefer a new house, view everything. I was keen on new builds but then saw one and garden was tiny and totally overlooked which wasn't for me so I'd recommend getting out there.

It seems likely from your post your gf could get the mortgage plus possibly costs covered in renting out the whole house if she moved into new house in your name, and people would kill for those tracker mortgages now so tough decision to make to sell that up. But seems like that would have to be the case if you are looking at 350k. If she tried to keep that house I don't think you'd get the mortgage together if she's not saving at the moment and if it's in a bad area bank won't be looking favourably on it from a rental view tho someone else can probably advise on that. From your post doesn't seem like she's in negative equity so that's a positive if she needed to sell.

Main advice is get the head down like you are, save like mad, get out there viewing and don't panic. It might seem like you need to buy now now now but be sensible.

Jodotman · 13-12-2016 8:19pm

Planning on buying a property this time next year. Have 75% of the deposit saved for my budget

Someone said to me if I took out a loan now now for 5K from the bank and pay it back in a year it would help improve my chances.

I missed one payment on a credit union loan around three years ago for a car as basically just forgot but paid it two weeks later when I remembered. Don't think this affected my credit rating or anything like that.

listermint · 13-12-2016 8:26pm

Jodotman wrote: »

Planning on buying a property this time next year. Have 75% of the deposit saved for my budget

Someone said to me if I took out a loan now now for 5K from the bank and pay it back in a year it would help improve my chances.

I missed one payment on a credit union loan around three years ago for a car as basically just forgot but paid it two weeks later when I remembered. Don't think this affected my credit rating or anything like that.

Credit history and payments history proves you are reliable speak to a broker for professional advice.

axcel · 13-12-2016 8:49pm

Jodotman wrote: »

Planning on buying a property this time next year. Have 75% of the deposit saved for my budget

Someone said to me if I took out a loan now now for 5K from the bank and pay it back in a year it would help improve my chances.

I missed one payment on a credit union loan around three years ago for a car as basically just forgot but paid it two weeks later when I remembered. Don't think this affected my credit rating or anything like that.

Repayment history is good to show but I wouldn't go taking out a loan now just for this reason. People use to say if you've never had a loan you won't get a mortgage but depends on the scenario. My partner has never had a loan, credit card or overdraft but good earnings, savings and been paying rent for a number of years and got mortgage approval no issue.

The credit union would've sent you a notice saying you've been referred to ICB for missed payment if there was an issue, and there usually wouldn't be for one payment missed and then paid two weeks later. So you can show regular repayment history there without the need for the loan.

But as per listermint, professional advice is always best.

StupidLikeAFox · 14-12-2016 1:35am

Jodotman wrote: »

Planning on buying a property this time next year. Have 75% of the deposit saved for my budget

If you can afford loan repayments you would be better off sticking the same amount into a savings account - it has the same effect (showing a repayment capacity) but you don't have to get yourself into debt

Have you saved the 75% yourself? Surely that would be enough to get the remaining 25% as a mortgage

lbyrne121 · 14-12-2016 9:53am

Hi I was wondering if anyone could help.. I have been renting my property out for 6 months now and I am going for a second mortgage, what proof will the banks require for rental income? I have the money going into my bank account but one of the months they were on holiday so they dropped the money to me and I lodge it in a week after the date due but unfortunately I didn't put a reference as I was lodging it into my account at the bank. any advice would be greatly appreciated.

Thanks

Greyian · 14-12-2016 11:46am

StupidLikeAFox wrote: »

If you can afford loan repayments you would be better off sticking the same amount into a savings account - it has the same effect (showing a repayment capacity) but you don't have to get yourself into debt

Have you saved the 75% yourself? Surely that would be enough to get the remaining 25% as a mortgage

I'm assuming he/she means they've saved 75% of the required deposit (e.g. need a €20,000 deposit, currently have €15,000 saved)

68 lost souls · 14-12-2016 12:16pm

So BOI want a letter from the revenue commisioner to state that we are going to be getting 5% of the purchase price under the new scheme. I don't imagine this is a letter we can actually get?

They also seme utterly useless in terms of they have lost paper work on us, now want us to provide it again, want us to show funds for x when the reason we don't have it in our accounts is because we have already paid X times 2 as a deposit.

Any one else had issues like this with BOI?

Pedro32561 · 14-12-2016 1:30pm

68 lost souls wrote: »

So BOI want a letter from the revenue commisioner to state that we are going to be getting 5% of the purchase price under the new scheme. I don't imagine this is a letter we can actually get?

They also seme utterly useless in terms of they have lost paper work on us, now want us to provide it again, want us to show funds for x when the reason we don't have it in our accounts is because we have already paid X times 2 as a deposit.

Any one else had issues like this with BOI?

You'll be able to get that letter when the scheme opens on 3rd January 2017. I understand that it will work by making an application online and then Revenue will issue a letter outlining eligibility, which can be provided to the bank.

68 lost souls · 14-12-2016 1:57pm

I find it strange because the other banks that gave us full approval didn't look for this.

q85dw7osi4lebg · 14-12-2016 2:06pm

Am I correct in thinking that if for example you have AIP from BOI which lasts for 6 months, and 3 months into this you go for full approval, the full approval will last a further 6 months?

Earleybird · 14-12-2016 4:29pm

Reese Lively Cabinet wrote: »

Am I correct in thinking that if for example you have AIP from BOI which lasts for 6 months, and 3 months into this you go for full approval, the full approval will last a further 6 months?

If by "full approval" you mean a Loan Offer then yes you are correct, you will have 6 months from the date of the Loan Offer letter.

q85dw7osi4lebg · 14-12-2016 4:34pm

Earleybird wrote: »

If by "full approval" you mean a Loan Offer then yes you are correct, you will have 6 months from the date of the Loan Offer letter.

Great, thanks.

little bess · 14-12-2016 5:46pm

Can anyone give me an idea of the deposit and contract process when buying a new build?

For example, we are looking at a development at the moment and the house won't be ready until after next summer. So at what time would we be expected to sign contracts and pay the full non-refundable deposit?

We haven't got full mortgage approval yet so I would be concerned that when we get it that the approval would run out by that time the house is built. I wouldn't want to sign contracts without a long run of the approval left in case of delays etc.

68 lost souls · 14-12-2016 6:34pm

little bess wrote: »

Can anyone give me an idea of the deposit and contract process when buying a new build?

For example, we are looking at a development at the moment and the house won't be ready until after next summer. So at what time would we be expected to sign contracts and pay the full non-refundable deposit?

We haven't got full mortgage approval yet so I would be concerned that when we get it that the approval would run out by that time the house is built. I wouldn't want to sign contracts without a long run of the approval left in case of delays etc.

We signed booking deposit in September, houses aren't due to be finished until April so read that as May or June. Signed the contracts back at the start of November. Will more than likely have to get approvla extended or re apply before we have to move in. Also getting full approval from several banks at the moment should any issue arise here.

pobber1 · 14-12-2016 9:16pm

We drew down our mortgage funds today. What are people's experience of the time between money being sent to your solicitor and then getting the keys?

lfc200 · 14-12-2016 9:23pm

pobber1 wrote: »

We drew down our mortgage funds today. What are people's experience of the time between money being sent to your solicitor and then getting the keys?

We drew down last Thursday and got keys this evening

Zzippy · 14-12-2016 10:08pm

lfc200 wrote: »

We drew down last Thursday and got keys this evening

Congrats!

Was there a hold up or did your solicitor just draw down early? We drew down yesterday and closing on Friday... worried now in case that was too late!

lfc200 · 14-12-2016 10:21pm

Zzippy wrote: »

Congrats!

Was there a hold up or did your solicitor just draw down early? We drew down yesterday and closing on Friday... worried now in case that was too late!

Was a receiver sale which just seemed to drag it out all along and there ended up being a number of things on the finalsearches which took extra time to get sorted!

pobber1 · 14-12-2016 10:31pm

lfc200 wrote: »

Was a receiver sale which just seemed to drag it out all along and there ended up being a number of things on the finalsearches which took extra time to get sorted!

We're buying a new build so I'm hoping there won't be any major delays.

kwat · 15-12-2016 10:12am

Mink wrote: »

MentalMario wrote: »

The loan wouldn't be to show repayment capacity. I definitely show that capacity already. There's a house after coming onto the market in the last few weeks that I like, a few months before I thought I'd be bidding.

It would be to bring my deposit up to €X +solictors fees so I can bid on a house I want right now, rather than wait a couple of months before I have it saved myself.

I'll put it to you this way, we had a loan when first applying for a mortgage and the amount we were offered was 15% less than what it would be without the loan. This was the same through a broker and direct.

The bank looks at loans/ childcare costs and any other obligation as potentially taking priority over the mortgage so they will lower the amount they can lend you.

If you can get a "gift" from someone so as to get over the hurdle and then have private arrangement to repay it as already suggested above.

I think Mario's point is that as he only wants to borrow 2X salary, even with the deduction the bank may make on amount he can borrow as a result of the bank loan, it still may be sufficient for the house he wants to bid on.

hooch-85 · 15-12-2016 1:01pm

How long on average have people been waiting to get AIP after sending in all application documents? I've read 10 days, is that 10 business days as in 2 weeks. We sent in all our stuff last Tuesday to EBS & AIB, i'm starting to get a bit anxious already, maybe its a bad time of year for applications so close to Christmas?

househunter08 · 15-12-2016 1:22pm

Not sure about AIB, but we applied through EBS mid November and it took 6/7 working days from the day it went to the underwriters. EBS rang us to clarify something just before they submitted the application to underwriters and it was on the 7th working day from that call that we got the approval.

hooch-85 · 15-12-2016 1:25pm

Ok thanks for that. We are only on day 6 yet. I might give yhe branch a call tomorrow if I don't hear from them

Zzippy · 15-12-2016 1:29pm

pobber1 wrote: »

We drew down our mortgage funds today. What are people's experience of the time between money being sent to your solicitor and then getting the keys?

Our solicitor drew down on Tuesday afternoon and we are closing today all going well. Was meant to be tomorrow but sellers and both solicitors are happy to close today. Presuming searches don't find anything outstanding we'll have the keys this evening

Mink · 15-12-2016 2:17pm

hooch-85 wrote: »

How long on average have people been waiting to get AIP after sending in all application documents? I've read 10 days, is that 10 business days as in 2 weeks. We sent in all our stuff last Tuesday to EBS & AIB, i'm starting to get a bit anxious already, maybe its a bad time of year for applications so close to Christmas?

AIB told us 10 working days (2 weeks) and it was probably the 10 days when we heard.

Mink · 15-12-2016 2:49pm

Just got a letter from property agent saying our rent is going up by 300 euro in April. Presuming our sale goes through, I think we are one of the lucky ones to dodge the bullet which is the rent cap fiasco

And... OH got news today that 1000 jobs getting let go from his department in Jan/Feb. Wow, great timing lads, just ruin everyone's Christmas why don't ya. OH has missed every other "culling" but I really don't know if can avoid this one. We're on the home stretch so please keep fingers crossed that we get over the finish line with jobs intact.

boris1234 · 15-12-2016 2:50pm

hooch-85 wrote: »

How long on average have people been waiting to get AIP after sending in all application documents? I've read 10 days, is that 10 business days as in 2 weeks. We sent in all our stuff last Tuesday to EBS & AIB, i'm starting to get a bit anxious already, maybe its a bad time of year for applications so close to Christmas?

It was 10 days/2 weeks for us. Took a few days before our branch submitted all the stuff to the underwriters and from when it was submitted we heard within a week.

Give them a call just to see when it was submitted to the underwriters.

Monife · 15-12-2016 3:38pm

Mink wrote: »

Just got a letter from property agent saying our rent is going up by 300 euro in April. Presuming our sale goes through, I think we are one of the lucky ones to dodge the bullet which is the rent cap fiasco

And... OH got news today that 1000 jobs getting let go from his department in Jan/Feb. Wow, great timing lads, just ruin everyone's Christmas why don't ya. OH has missed every other "culling" but I really don't know if can avoid this one. We're on the home stretch so please keep fingers crossed that we get over the finish line with jobs intact.

If that rent cap legislation goes through before Christmas, they wouldn't be allowed increase it by that much in April, they would have to do it now (and only if they haven't increased it in the last 2 years).

zedhead · 15-12-2016 6:08pm

hooch-85 wrote: »

How long on average have people been waiting to get AIP after sending in all application documents? I've read 10 days, is that 10 business days as in 2 weeks. We sent in all our stuff last Tuesday to EBS & AIB, i'm starting to get a bit anxious already, maybe its a bad time of year for applications so close to Christmas?

We were applying around the August Bank Holiday time and were told by our broker to expect it to take a little longer than the usual 10 days because of the time of year - bank holiday and people taking time off for holidays etc. It was 10-15 days for us depending on the bank. It maybe the same being so close to Christmas.

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

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