Buying a house 2013!

kennyb3 · 09-02-2013 12:42am

Hi killers, just wondering what a rough time frame is between going sale agreed and completion (assuming no issues)?

2months? 4months?

Bit of a how long is a piece of string question but just from your experience (the average)

killers1 · 09-02-2013 12:57am

kennyb3 wrote: »

Hi killers, just wondering what a rough time frame is between going sale agreed and completion (assuming no issues)?

2months? 4months?

Bit of a how long is a piece of string question but just from your experience (the average)

It's definitely a how long is a piece of string question!! Quickest one I had in 2012 from sale agreed to keys in hand was 8 working days! Longest was 6 months! Typical case assuming no issues 8-12 weeks. Where there's organised & willing vendors & purchasers generally 4-6 weeks.. All I'd say is get all your own requirements in place, have an efficient & proactive solicitor and let the vendor & their solicitor worry about their end of things...Ultimately it's the vendor who by in large controls the pace of the transaction, so whether you're made aware of it or not, they'll be suiting themselves in terms of a timeframe.

fricatus · 09-02-2013 4:36am

coraline55 wrote: »

Hmm, its interesting that you were offered a NE mortgage, they refused us ... Did you talk to the branch mortgage adviser or someone higher ?

Mortgage adviser in the branch.

Glenbhoy wrote: »

Fair enough, don't want to go too far off thread, but be aware that only 75% of interest is allowable as a deduction and that you will have to pay tax (and prsi and USC) on rental profits, which, as the rent is covering the mortgage, you undoubtedly have. It's probably not huge, but is another thing to consider.

Yep... all too painfully aware! :pac:

Still the best option in our circumstances though.

darklighter · 09-02-2013 11:32pm

quad_red wrote: »

Viewed a house this morning that we are very interested in.

It was a buy to let that had been repossessed. The EA was working for the receiver.

I wonder - does this make them likely to want a fast transaction? Or does it make it more likely to be drawn out?

I have been bidding on a similar property since the end of November.

Made an offer below asking price; EA came back 2 weeks later saying offer wasn't accepted & there had been another offer more than mine. I made another offer & told EA that was my last offer.

Still waiting for a decision from the receiver but the EA keeps assuring me that he thinks the offer will be accepted :rolleyes:

I thought that been fully mortgage approved & having a survey done to demonstrate I was ready to move immediately would help but seemingly not. Maybe in your case it would be faster but in mine, drawn out seems to be the case.

flintash · 12-02-2013 1:27pm

Hi lads, just want to ask ye about making offers. Cause I have situation here now, there are plenty (let's say more than 10) properties available matching my requirements, and I'm going to see them all. Lets say, they all satisfy me after the viewings, and I want to make an offers on all of them. You know like good ole days, buyers would be bidding to get the house, here now the vendors would be bidding to get my money(from my point of view). As you can see, i'm foreigner, and dont really understand the this concept "making an offer". How serious it it in EA eyes? cause I dont want to show myself as tyre kicker and EAs never again take me seriously.

kennyb3 · 12-02-2013 1:37pm

^^ highly unlikely 10 places will all match your requirements. Whittle it down to the ones that do (as in really do - you can to a pro's and con for each one to help whittle it down). Go see them a second or even a third time. Then bid on 2/3 and see where you get.

flintash · 12-02-2013 2:21pm

well you see, more than anything i'm hunting for is price (value for money, as I say). I have no special requirements for location, basically go on daft put cork and suburbs price 200k, 3 to 4 bed and back garden. See what choice you have there. Now like I said, I want garden, and dont want to live in Mayfield or knocknaheenee. Thats basically it. See the dillema I have now?
What I see here and real people around me, not many go low with offers. but I will. And what I expect is 30% drop regardless how much I LOVE the house. Therefore I need to make loads of offers to get someone willing for such a drop, and only then I look seriuoslly into it. I know it sounds like me being time waster, but hey- i'm sighing debt on for the rest of my life

makeorbrake · 12-02-2013 2:32pm

flintash wrote: »

See the dillema I have now?
What I see here and real people around me, not many go low with offers. but I will. And what I expect is 30% drop regardless how much I LOVE the house. Therefore I need to make loads of offers to get someone willing for such a drop, and only then I look seriuoslly into it. I know it sounds like me being time waster, but hey- i'm sighing debt on for the rest of my life

You have to calculate out what each of them is worth to you - that's it in a nutshell. They are not all the same - they all have their own sets of specifics. There is likely to be a variance in how the immediate area around each property is perceived - even if this doesn't seem important to you personally.
You can check the property price register. That will help (but of course only to a certain extent).
As regards to EA's taking you seriously, who cares! Their profession hasnt exactly set itself in glory in recent times (some would say at any time!). At the end of the day, you have to decide what something is worth to you. If the vendors expectation doesn't meet with that, then move on to the next one. If the general consensus is that your expectation and general market expectation are at odds, stay renting and keep your $ in your pocket.

flintash · 12-02-2013 2:47pm

I understand that in some cases 30% lower offer would be a joke and make EA laugh at my face, or other cases i'd run away from the house, never mind making an offer.But what i'm saying, as I just started to look for a property, go have a look at them all and make loads low ball offers then sit,wait and see if anyone interested.

quietsailor · 12-02-2013 4:54pm

makeorbrake wrote: »

You have to calculate out what each of them is worth to you - that's it in a nutshell. They are not all the same - they all have their own sets of specifics. There is likely to be a variance in how the immediate area around each property is perceived - even if this doesn't seem important to you personally.

Going all engineer on you here OP but makeorbrake has a good idea there; draw up a table with the house names across the top and what you want down the side. Assign values to each requirement in a range - say 0-100 for each and then total up the values at the bottom of each column.

It'll give you an idea of the differences between the various houses where you might not be able to see the differences just looking at brochures. Make sure to put in any requirements you might have in the future if your life changes - eg you get married and now want to be near a certain school

The excel sheet is an example I wrote out before for a friend, you'd have to change the requirements to what you want but it gives you the idea.

flintash · 12-02-2013 7:09pm

I looked at the file and think it is good idea when you compare like to like. But my variables too wide and set the right values for so many aspects is just too complicated. Like I said price matters more than anything, and probably vendors willingness to drop the price hence me believing getting the bargain.
I'm strong believer that houses are still overvalued ,but cant fight the market, so just trying get bargain .

nibtrix · 12-02-2013 8:43pm

flintash wrote: »

I looked at the file and think it is good idea when you compare like to like. But my variables too wide and set the right values for so many aspects is just too complicated. Like I said price matters more than anything, and probably vendors willingness to drop the price hence me believing getting the bargain.
I'm strong believer that houses are still overvalued ,but cant fight the market, so just trying get bargain .

So it's more important for you that you "believe" you've gotten a bargain house than actually getting the right house for your future? :eek:

flintash · 12-02-2013 9:15pm

I believe the houses still overpriced. I believe the attitude " the right house" and "time to buy" got us where we are now. I believe prices not falling drastically because of same attitude.
I need to mention I apply investors formula for house price as well, therefore I think houses overpriced in general.

makeorbrake · 13-02-2013 1:28am

flintash wrote: »

I need to mention I apply investors formula for house price as well, therefore I think houses overpriced in general.

Which formula exactly are you using? Rental yield? If so, what is your perception of an adequate rental yield?

By the way, I'm not necessarily challenging your approach. I have made about 5 actual offers in the last couple of years - all of which were exceeded. With the exception of maybe one property, I'm not all that unhappy that I stuck with what I thought was right (even the one that I felt may have been worth more I didnt bid higher simply as funds were not available to go higher at that time).

Who cares what the EA's think. It's a sales based industry - you're just a mark for them.

flintash · 13-02-2013 2:39am

9% rental yield, before all expenses ,depreciations and taxes.
I do care what EA thinks. Emails do not get answered, cause they dont take you seriously. They tell you what offer was refused by that setting the price floors, though it could be pure lies. I spoke to one of biggest of EA in Cork and I believe they can push market they wanted.Most worryingly they put fear in me i'm not getting any house if i'm not paying asking price or very close. I'll get over this and find my way to bargains i'm so dreaming of

(but I doubt average irish couple/person gonna do that)

makeorbrake · 13-02-2013 1:34pm

flintash wrote: »

I do care what EA thinks. Emails do not get answered, cause they dont take you seriously.

You're a prospect - and they don't answer emails?

flintash wrote: »

They tell you what offer was refused by that setting the price floors, though it could be pure lies.

You can have absolutely NO confidence in this information! For real tangible figures, check the PPR (albeit that you have to allow for differences between what may be otherwise - similar properties - and of course the point in time in which the sale went through).

flintash wrote: »

I spoke to one of biggest of EA in Cork and I believe they can push market they wanted.

Not sure what you mean by this exactly?

flintash wrote: »

Most worryingly they put fear in me i'm not getting any house if i'm not paying asking price or very close.

Why is that "worrying" or unexpected? Their job is to maximise sales price for their client.

flintash wrote: »

I'll get over this and find my way to bargains i'm so dreaming of (but I doubt average irish couple/person gonna do that)

lol...they won't do this? I wouldn't be so sure about that. There is no silly money out there anymore. I've spent the last 2 years looking - and will continue to do so until I find a deal that makes financial sense.

flintash · 13-02-2013 4:20pm

Maybe it just luck, or badly represented myself in emails, but has got no replays. Different story when I ring. They called back.
PPR - heard too many stories that I take it granted. People I KNOW claimed price difference between sale an PPR price. (to be honest, no surprise)
No silly money? you joking me! Just handful boardies and pinsters sitting and waiting zero price, others buying, they just dont come on boards to share or ask for your advise

.
off topic- after 8 years i found first irish person using forums- everybody wondered when I said "What's trending?"

highgiant1985 · 13-02-2013 6:56pm

Do EAs ever reply back to emails?

I've sent a few as well and no reply!

flintash · 13-02-2013 7:06pm

^^
thats what i talking about.
Came here just to ask how not to look tyre kicker. thats all.

An Ri rua · 13-02-2013 7:07pm

highgiant1985 wrote: »

Do EAs ever reply back to emails?

I've sent a few as well and no reply!

Yeah they do. I've had success with sending emails. Must be how I write them. I use a spare sim and, after they've finished leaving a message on that and not getting a call back for a few days, they email...

makeorbrake · 14-02-2013 1:15am

flintash wrote: »

Came here just to ask how not to look tyre kicker. thats all.

Well, up to you but who cares. They will only see you as a "tyre kicker" if you are a long way off their price expectation. However, if that's the case then you're not in the running for that particular property - so why does it matter?

Move on to the next prospect...and repeat as necessary until you get the deal you're satisfied with.

I couldn't care less about what the EA thinks. However, if on a subsequent property they think that your offer is workable, then won't it be game on again? Money does all the talking.

khards · 21-02-2013 5:08pm

Haa,

From the look of this thread there are not many eager buyers this year!

I feel sorry for the poor suckers outbidding each other last year and have ended up paying more than if they had waited to this year.

mel.b · 21-02-2013 5:38pm

khards wrote: »

Haa,

From the look of this thread there are not many eager buyers this year!

I feel sorry for the poor suckers outbidding each other last year and have ended up paying more than if they had waited to this year.

I'm an eager buyer for this year and am just waiting for the people whose house i want to buy find something they want to buy. I keep joking about dropping anonymous daft print outs in their mailbox of houses they might like to buy

And killers1 has done a brillant job of getting my mortgage approval done

quad_red · 21-02-2013 6:45pm

We're waiting, finance ready to go. But there is not allot of realistic supply in the areas we're looking.

So we continue to wait. Sigh.

flintash · 21-02-2013 7:14pm

I'm going to see the house tomorrow. very much interested in it, and price is OK.

makeorbrake · 21-02-2013 7:18pm

flintash wrote: »

I'm going to see the house tomorrow. very much interested in it, and price is OK.

Good luck bud. Be sure to report back here as regards how that goes for you ;-)

efb · 21-02-2013 7:21pm

khards wrote: »

Haa,

From the look of this thread there are not many eager buyers this year!

I feel sorry for the poor suckers outbidding each other last year and have ended up paying more than if they had waited to this year.

I don't feel like a sucker! Great house on the cheap and MIR! But best of to the 13's!

qwertypop · 21-02-2013 7:58pm

I've a price agreed on a property and the sellers solicitor has sent in contracts etc but now were stuck waiting for ber certs and nppr receipts. I know full well that the seller has not got them so its going to be dragging it out even further

clancynl · 22-02-2013 1:45pm

sportfanatic wrote: »

Hi all,
I know this has probably been answered in previous threads but I'd appreciate some feedback please!
Myself and the girlfriend are meeting a few of the banks in a few weeks (BOI & AIB). I don't want to be too optimistic, but what are the chances of us getting mortgage approval based on the following;
- I'm in a full time permanent job for the past 3.5yrs on a salary of 37,100.
- girlfriend is in a full time permanent job for the past 5 years on a salary of 46,000
- I'm 29 and she's 27
- we have been paying rent, 1,050 for the past 18 months
- saving for the past 12months and now have 10,000
- both sets of parents are giving us a gift of a combined total of 12,000
- I have a loan of 4000 to be repaid over the next 4 years( engagement ring!)
- she has a car loan of 6000

We are looking for a mortgage of about 220,000..... What's the chances?

Hi There ... We're in more or less the same position as you ... well .. apart from the fact that I'm 40

... but just to let you know .. .I'm completely new to this malarky and am a bit wet behind the ears when it comes to property ... but a mate of mine recommended paying a visit to Frank Lenny ... a mortgage broker just on Fitzwilliam street ... and he helped no end in explaining the current market situation, calculating our potential fees / monthly repayments, alongside being a rather nice dude. The first consultation is free of charge so it might not hurt to have a chat with the man and see what you think ...

He did mention that some of the banks are not able so lend due to certain criteria laid out buy the upper eclehons, but he deals with a few he knows are able to lend / eager to lend so has an in-road into the process moreso that I'd have anyways ...

just my two cents ...

nibtrix · 22-02-2013 2:04pm

clancynl wrote: »

The first consultation is free of charge

Only the first consultation? I was under the impression that brokers were paid commission by the bank, and most of them don't charge the applicant any fees.

clancynl · 22-02-2013 2:50pm

nibtrix wrote: »

Only the first consultation? I was under the impression that brokers were paid commission by the bank, and most of them don't charge the applicant any fees.

Ah well ... maybe he's not a broker then ... (apologies ... I'm clueless at anything property related) rather an Independent Financial Advisory Services dude ... So it seems anyways ... his fee - if we choose to go ahead and have him as our intermediary - is 250 to start and then 250 when the deal is done ... not bad for me considering his expertise and contacts (solicitors, surveyors, banks etc ...). Seemingly they survey what each lender has on offer so he stays abreast of what are the more attrractive offers available and all that jazz ... handy if you ask me

Dunno if I'll be barred for this ... but here's his blurb on his offerings...

http://www.franklenny.com/mortgage_process_trading

killers1 · 22-02-2013 2:54pm

clancynl wrote: »

Ah well ... maybe he's not a broker then ... (apologies ... I'm clueless at anything property related) rather an Independent Financial Advisory Services dude ... So it seems anyways ... his fee - if we choose to go ahead and have him as our intermediary - is 250 to start and then 250 when the deal is done ... not bad for me considering his expertise and contacts (solicitors, surveyors, banks etc ...). Seemingly they survey what each lender has on offer so he stays abreast of what are the more attrractive offers available and all that jazz ... handy if you ask me

He is a Mortgage Broker and charges €500. There are a lot of other brokers offering the same expertise and contacts for free and rely on existing satisfied clients to refer new business in lieu of charging for their services.

clancynl · 22-02-2013 3:14pm

killers1 wrote: »

He is a Mortgage Broker and charges €500. There are a lot of other brokers offering the same expertise and contacts for free and rely on existing satisfied clients to refer new business in lieu of charging for their services.

Ah-ha ... ah well .. I warmed to the chap during our meeting .. I liked his schtick ... so I'll stick with him for now .... tis all part of the learning curve I s'pose ...

D3PO · 22-02-2013 3:30pm

clancynl wrote: »

Ah-ha ... ah well .. I warmed to the chap during our meeting .. I liked his schtick ... so I'll stick with him for now .... tis all part of the learning curve I s'pose ...

Pity you didnt come on here first. I think you would almost unanimously have been recommended Killers1 a regular on this forum.

Bet he doesnt charge 500 lids either

davet82 · 22-02-2013 3:33pm

D3PO wrote: »

Pity you didnt come on here first. I think you would almost unanimously have been recommended Killers1 a regular on this forum.

Bet he doesnt charge 500 lids either

Shut up! You'll give him ideas!

clancynl · 22-02-2013 3:37pm

D3PO wrote: »

Pity you didnt come on here first. I think you would almost unanimously have been recommended Killers1 a regular on this forum.

Bet he doesnt charge 500 lids either

It's looking like that now alright ... <facepalm> ... cheers for the heads up anyways

mel.b · 22-02-2013 3:45pm

D3PO wrote: »

Pity you didnt come on here first. I think you would almost unanimously have been recommended Killers1 a regular on this forum.

Bet he doesnt charge 500 lids either

Yep, killers1 has been brilliant. I live on the other side of the country and have done everyhting via email. He's been really prompt with emails, taken my phone calls when i've called and submitted my apllication on a fri and had approval by Tues am

And no, he doesn't charge €500 either

clancynl · 22-02-2013 3:49pm

Whoops ... apologies Killer1 .. didnt mean to detract from your sterling work on here ... First day perusing this post so looks like i was a tad hasty in recommending anything ... lesson learnt!

efb · 22-02-2013 3:50pm

Well I had little personal involvement with Killers but before I bought I read up on all his posts here and advice and doubt his posts very helpful. Very encouraging to me too

flintash · 22-02-2013 7:09pm

I talked to guys in South Mall ,cork, aka mortgage broker, they charge 800 in total.
Follow up on my house viewing today: like I said, price sounded good

for a reason.

one wall is falling off the house.
Well i'm not buying house-surprise. God knows what else is wrong with the house.
Country is littered with houses that are either in bad shape or nobody want to live in them for a reason , but asking prices are based " you know what the LAND is worth!!"
Ya, I know! All the radioactive gases that are coming from the ground makes it gold value. :mad:
Sorry for rant

killers1 · 22-02-2013 7:14pm

D3P0 - Thanks for your kind words & great idea re the €500!

Clancynl - Don't be silly, best of luck with your purchase and any queries at any stage let me know..

Mel.b - You have a great weekend!

efb - You'll be getting an invoice too.....

killers1 · 22-02-2013 7:16pm

flintash wrote: »

I talked to guys in South Mall ,cork, aka mortgage broker, they charge 800 in total.
Follow up on my house viewing today: like I said, price sounded good for a reason. one wall is falling off the house.
Well i'm not buying house-surprise. God knows what else is wrong with the house.
Country is littered with houses that are either in bad shape or nobody want to live in them for a reason , but asking prices are based " you know what the LAND is worth!!"
Ya, I know! All the radioactive gases that are coming from the ground makes it gold value. :mad:
Sorry for rant

For €800 I'd expect them to help you move in!

Don't get too hung up on that house. It's obviously falling apart... take your time to find the right house at the right price.

mel.b · 22-02-2013 7:29pm

flintash wrote: »

I talked to guys in South Mall ,cork, aka mortgage broker, they charge 800 in total.
Follow up on my house viewing today: like I said, price sounded good for a reason. one wall is falling off the house.
Well i'm not buying house-surprise. God knows what else is wrong with the house.
Country is littered with houses that are either in bad shape or nobody want to live in them for a reason , but asking prices are based " you know what the LAND is worth!!"
Ya, I know! All the radioactive gases that are coming from the ground makes it gold value. :mad:
Sorry for rant

Bummer flintash

. Don't worry though...something will come up

D3PO · 22-02-2013 8:29pm

killers1 wrote: »

D3P0 - Thanks for your kind words & great idea re the €500!

Clancynl - Don't be silly, best of luck with your purchase and any queries at any stage let me know..

Mel.b - You have a great weekend!

efb - You'll be getting an invoice too.....

i will pm you where to send my commision cheque

:pac::cool:

killers1 · 22-02-2013 8:40pm

D3PO wrote: »

i will pm you where to send my commision cheque :pac::cool:

haha! Work away! If I ever go down that road I'll let you know.. unfortunately at the moment, 50% of nothing is €0.00

kennyb3 · 28-02-2013 10:27am

We had our offer accepted yesterday, so after 4 years of renting and waiting through price falls i'm about to join the dark side.

Will no doubt have plenty of questions along the way, though i've tried to read as much as possible. It's the more obvious practical things that get me - so here's one to start. I want to organise a valuer once I pay the booking deposit - what's the situation with keys - give the valuer the EA's details?

killers1 · 28-02-2013 10:31am

kennyb3 wrote: »

We had our offer accepted yesterday, so after 4 years of renting and waiting through price falls i'm about to join the dark side.

Will no doubt have plenty of questions along the way, though i've tried to read as much as possible. It's the more obvious practical things that get me - so here's one to start. I want to organise a valuer once I pay the booking deposit - what's the situation with keys - give the valuer the EA's details?

Congrats! You email or phone the Valuer & give property address, purchase price, name of bank you're borrowing from, mortgage ref no and estate agent's contact details and the valuer will ring the EA to arrange access & can return the original report directly to your lender.

janeybaby · 28-02-2013 2:18pm

Hi All,

Just wondering if anyone might be able to help - I applied to AIB for a mortgage approx
2 weeks ago of 145000 (over 30 years) as a single applicant and got word back yesterday that I was unsuccessful & the max they could offer was circa 100k. In the original meeting I was advised my extreme max would be between 155k-159k and that because I was looking for less, I was in a good position. This is my situation:

working in semi-state company on salary 37,000/year for the past 4 1/2 years (permanent & pensionable)
savings of just over 10k
Savings 400/month
Rent at home 200/month
no loans (owe 500 on a credit card)

On their response, I was told that because I was "borderline" on replayments it had to go to three lenders and it was the third who made the call on it & I should try to up my savings for the next 6-9months to reapply. Naturally, I am very disappointed after nearly 5 years saving & I don't particularly want to wait that length when my finances are already in a good place.

I am wondering firstly, if this has happened to anybody else and what steps they took? and secondly, does being a single applicant hugely reduce my chances?

Any help or advice would be greatly appreciated!!

Thanks guys...

killers1 · 28-02-2013 2:30pm

janeybaby wrote: »

Hi All,

Just wondering if anyone might be able to help - I applied to AIB for a mortgage approx
2 weeks ago of 145000 (over 30 years) as a single applicant and got word back yesterday that I was unsuccessful & the max they could offer was circa 100k. In the original meeting I was advised my extreme max would be between 155k-159k and that because I was looking for less, I was in a good position. This is my situation:

working in semi-state company on salary 37,000/year for the past 4 1/2 years (permanent & pensionable)
savings of just over 10k
Savings 400/month
Rent at home 200/month
no loans (owe 500 on a credit card)

On their response, I was told that because I was "borderline" on replayments it had to go to three lenders and it was the third who made the call on it & I should try to up my savings for the next 6-9months to reapply. Naturally, I am very disappointed after nearly 5 years saving & I don't particularly want to wait that length when my finances are already in a good place.

I am wondering firstly, if this has happened to anybody else and what steps they took? and secondly, does being a single applicant hugely reduce my chances?

Any help or advice would be greatly appreciated!!

Thanks guys...

The reason you were only offered €100k is very straightforward. The problem with dealing with a bank direct is that they only do the first part of the underwriting calculation which is to put your income figure into their calc to see what number comes out. In your case a salary of €37k would qualify you to borrow circa €150k. The problem is the second part of the underwriting where they stress test the amount you are looking to borrow @ 6.24% over the term requested which on €145k amounts to €891pm. The only repayment capacity you can show is savings €400pm + €200pm rent so you are €291pm short of proving you can afford a mortgage at that level. You are showing a repayment capacity for €600pm which equates to a loan amount of €100k i.e repayments on €100k over 30 yrs @ 6.24% = €615pm.. You'll need to increase your savings so that your rent + savings = circa €1k pm and then you should get approval in 6 months time. A good mortgage advisor could have told you this in 5 minutes as opposed to putting you through a pointless application exercise.

D3PO · 28-02-2013 2:36pm

killers1 wrote: »

The reason you were only offered €100k is very straightforward. The problem with dealing with a bank direct is that they only do the first part of the underwriting calculation which is to put your income figure into their calc to see what number comes out. In your case a salary of €37k would qualify you to borrow circa €150k. The problem is the second part of the underwriting where they stress test the amount you are looking to borrow @ 6.24% over the term requested which on €145k amounts to €891pm. The only repayment capacity you can show is savings €400pm + €200pm rent so you are €291pm short of proving you can afford a mortgage at that level. You are showing a repayment capacity for €600pm which equates to a loan amount of €100k i.e repayments on €100k over 30 yrs @ 6.24% = €615pm.. You'll need to increase your savings so that your rent + savings = circa €1k pm and then you should get approval in 6 months time. A good mortgage advisor could have told you this in 5 minutes as opposed to putting you through a pointless application exercise.

exactly.

Also you only have 10k of savings. At a max LTV of 92% 125k would be the max mortgage you could get regardless of your income.

you were never ever going to be approved for 145k

Buying a house 2013!

Comments