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11-01-2019, 21:26   #7201
Creamy Goodness
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If anything what you should do is use the credit card every month but make sure pay it off entirely when you get the statement in every month...that would have more positive response from bank as it shows that you can live within your means and pay credit card bill. Do not carry credit card balance and save
Telling a person who has credit card debt to use their card more isn’t really the best advice.
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12-01-2019, 18:55   #7202
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Are people generally going for variable or fixed mortgages these days?

First mortgage appointments booked for next week.

Will be looking for 90%, house value €120,000.

Last edited by Frozen Veg; 12-01-2019 at 19:06.
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12-01-2019, 18:59   #7203
soc
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Telling a person who has credit card debt to use their card more isn’t really the best advice.
I'm not saying that. I'm saying that if they want to show repayment history to bank regarding a credit card then clearing the balance every month shows good repayment history and not making monthly payments to chip away at a balance. I don't know how good or not the person is with a credit card...
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12-01-2019, 21:46   #7204
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Are people generally going for variable or fixed mortgages these days?
Depends on what you intend doing with repayments, some people like to overpay to reduce the term of mortgage, variable rate mortgage is more lenient when it comes to repayment plans, Ulster bank has a great fixed rate mortgage at present. Also allows an annual overpayment of 10% of outstanding balance.
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13-01-2019, 08:28   #7205
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I don’t use the card. It’s an old balance that I’ve reduced down. My question isn’t so much about the card, I’m aware it’s not a good thing to have so I’m trying to get rid of it. My concern is about reducing my savings. I have shown over 6 months that I can save over the expected repayments but if I take this 2k out it will reduce the average down. Obviously going forward I can save more as I won’t be paying the card but I’m not sure how it will look & if it will set me back another 6 months
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13-01-2019, 09:53   #7206
laserlad2010
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Well, back on here with second house sale agreed. This time the survey looks good so I won't have to back out this time!

A feel good story - this house was subject to a really low bidding war (started at 75% of asking price 400k and went up by 5k every two days). I'd come in with a much higher offer the week before Christmas, but the next day the EA says the vendor wants it done and dusted - best and final offers by X deadline. There were 5 interested parties.


Anyway, put in the best bid I could do and got a missed call from the EA the next day. Rang him back "Dear X, I'm just ringing about the property. You were not the highest bidder... but the vendor has preferred your bid" To say I was gobsmacked was an understatement! I think he couldn't resist the pause tbh


The highest bid was an investment offer from a landlord, and the vendor wanted it to be a family home for a FTB, so she wanted us in the property.


Just goes to show it's not all about the money sometimes. Obviously contracts not signed but hoping to do so in the next two weeks!
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14-01-2019, 16:44   #7207
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I was wondering how feasible is it to obtain keys to a property before the sale fully closes?
We're at a very advanced stage and are just waiting for one piece of documentation (Land Registry), which is taking longer to obtain than anticipated. The date we have been given by the solicitor keeps being pushed forward - it was initially supposed to be before Christmas.
We have little time left in our current rental house and need to move out in the next 2 weeks.
I was wondering if anyone here has done this?
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14-01-2019, 16:52   #7208
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I was wondering how feasible is it to obtain keys to a property before the sale fully closes?
We're at a very advanced stage and are just waiting for one piece of documentation (Land Registry), which is taking longer to obtain than anticipated. The date we have been given by the solicitor keeps being pushed forward - it was initially supposed to be before Christmas.
We have little time left in our current rental house and need to move out in the next 2 weeks.
I was wondering if anyone here has done this?
I did this years ago for similar reasons, but the person I was buying off had used it as a rental property so he was happy enough to 'rent' the place to me until the sale closed, which was about 10 days after we moved in.

It really will depend on the owners circumstances, but given the current situation where everything is so heavily weighted in favour of tenants rather than landlords, I would be very hesitant if I was the owner.

Can you speak to your landlord an extend your time?
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14-01-2019, 16:55   #7209
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Can you speak to your landlord an extend your time?
She is unfortunately currently renting and will be moving back into her house, so there's no room to extend that.
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14-01-2019, 17:14   #7210
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Originally Posted by laserlad2010 View Post
Well, back on here with second house sale agreed. This time the survey looks good so I won't have to back out this time!

A feel good story - this house was subject to a really low bidding war (started at 75% of asking price 400k and went up by 5k every two days). I'd come in with a much higher offer the week before Christmas, but the next day the EA says the vendor wants it done and dusted - best and final offers by X deadline. There were 5 interested parties.


Anyway, put in the best bid I could do and got a missed call from the EA the next day. Rang him back "Dear X, I'm just ringing about the property. You were not the highest bidder... but the vendor has preferred your bid" To say I was gobsmacked was an understatement! I think he couldn't resist the pause tbh


The highest bid was an investment offer from a landlord, and the vendor wanted it to be a family home for a FTB, so she wanted us in the property.


Just goes to show it's not all about the money sometimes. Obviously contracts not signed but hoping to do so in the next two weeks!

I started reading that half thinking we might have been bidding against each other! But I was only one of 2 bidders, and there was no investor that I am aware of, and wasn't given a deadline, so wasn't the same place

We bid on a bhouse that started at 400, and came down a long way from that to nearly 75%. Bid under, as noone was bidding whatsoever. No contact from the agent at all. Send in an email, they eventually ring back and say they won't accept that, they want x amount, or we can try and negotiate.

So we increase our bid a little to see if they move, again silence from the agent for 2 weeks. Another bidder then emerges, and I get a call straight away. We match their bid, explaining we can move straight away etc, so they up there bid. We made one more bid and they went up by 10k.

We decided that we'd stop then. First time bidding, and I do not like estate agents. Kept telling me about the other bidder, when I said, I wasn't interested in other bidder says, I am interested in what the seller has said. The house was worth more than it went for too. They had mistakes in the description, addressed it wrong and when viewing the house (on 3 occassions), did not know some fairly basic details.

The sellers should've got rid of them and got someone else in.
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14-01-2019, 19:05   #7211
Frozen Veg
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Any thoughts on selection of mortgage provider for 5 year fixed mortgage? Which bank would be considered best value at the moment.
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14-01-2019, 22:23   #7212
august12
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Originally Posted by Frozen Veg
Any thoughts on selection of mortgage provider for 5 year fixed mortgage? Which bank would be considered best value at the moment.
Ulster bank seems to have the best fixed rate mortgage at present,
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15-01-2019, 01:33   #7213
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I had similar experience - I have found only speaking from my experience and the experience of those I know that estate agents for the most part to be unprofessional at every stage of the process.

I have been proven on numerous instances where by they have been telling porkies and different stories to different individuals.

I feel there is a lack of legislation governing this and this is badly needed considering the havoc the last housing crisis caused on our economy and ok they are not bankers but they were key stakeholders and for me, nothing has changed since then...over the phone phantom bidding ,etc. As I said I am sure there are some decent salt of earth EAs but I am yet to come across any in my experience
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Yesterday, 13:20   #7214
Goose76
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Has anyone written a letter to the sellers in the hope of them “choosing” your bid? I’ve heard this can be a good strategy.

We have gone sale agreed and everything is close to completion but have since found a property that suits us much better. Our budget is tight and we have no time to lose if we are to pursue this other house. The EA for the “new house” knows we are already sale agreed and need to move rapidly. Would a letter to the vendors help in any way and if so, any tips for what should be included?
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Yesterday, 14:56   #7215
eoghan104
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Ulster bank seems to have the best fixed rate mortgage at present,
You need to factor in the cashback offers with other banks.

For us at a property price of 340k the BOI 2% cashback made them the best value for 5 years even though their rate was higher than UB.

Easy sums. 60 x monthly repayment minus any cashback. Lowest total amount is best.
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