Buying a house 2012

Afehogan · 11-03-2012 10:06am

Starting this process at the moment. Have a property in mind but haven't made any offer as need to go to the bank to look for approval in principle first! Is it necessary to have all the pay slips, Salary cert , statements etc for the approval in principle? Or is that just when you are applying for the mortgage?

blueturnip · 11-03-2012 12:01pm

Afehogan wrote: »

Starting this process at the moment. Have a property in mind but haven't made any offer as need to go to the bank to look for approval in principle first! Is it necessary to have all the pay slips, Salary cert , statements etc for the approval in principle? Or is that just when you are applying for the mortgage?

I am in the process of getting the MIP. You need ALL the bits and pieces! I think I have printed out close to a full tree trying to get it together

I have:
Salary Certs
Payslips
CC Statements
Savings Accounts Statments
Proof of EU Citizenship
Proof of Rental payment

No bank statements etc as we are going with AIB where all our current accounts etc are.

And I am sure I am missing something...

Afehogan · 11-03-2012 1:35pm

blueturnip wrote: »

Afehogan wrote: »

Starting this process at the moment. Have a property in mind but haven't made any offer as need to go to the bank to look for approval in principle first! Is it necessary to have all the pay slips, Salary cert , statements etc for the approval in principle? Or is that just when you are applying for the mortgage?

I am in the process of getting the MIP. You need ALL the bits and pieces! I think I have printed out close to a full tree trying to get it together

I have:
Salary Certs
Payslips
CC Statements
Savings Accounts Statments
Proof of EU Citizenship
Proof of Rental payment

No bank statements etc as we are going with AIB where all our current accounts etc are.

And I am sure I am missing something...

Proof of eu citizenship? How on
Earth do I get that? Is it enough to just show rent on the statements do you think?

blueturnip · 11-03-2012 2:16pm

Afehogan wrote: »

Proof of eu citizenship? How on
Earth do I get that? Is it enough to just show rent on the statements do you think?

I have just used our passports. Otherwise I would be stuck

I have read posts from people who have just used statements where the description is 'Rent' and that was enough... But I don't know if that would still be the case.

killers1 · 11-03-2012 7:56pm

blueturnip wrote: »

Afehogan wrote: »

Proof of eu citizenship? How on
Earth do I get that? Is it enough to just show rent on the statements do you think?

I have just used our passports. Otherwise I would be stuck

I have read posts from people who have just used statements where the description is 'Rent' and that was enough... But I don't know if that would still be the case.

Rent evidenced in your bank statements will do.

A passport from an EU country will suffice as proof of EU citizenship. People from some countries require a Stamp 4 Visa to live & work in Ireland so if your from outside of the EU the banks will look for this and your passport.

Verte11 · 13-03-2012 5:14pm

There's an asbestos flat roofed extension on the property I'm buying. Bank are asking for quotes for it to be removed and replaced. Fair enough. Regardless of what the bank thinks, I wasn't going to be replacing it straight away. My friends have an asbestos roof on their lean-to. My parents also have asbestos in garage. As far as I'm aware it's okay unless I stand on the roof and break it or if it's damaged in parts.
If I can prove to the Banks I have the funds I'm ok but out of curiosity anyone out there living with an asbestos roof and still alive? My valuer thinks I should renegotiate price of house but I don't want to jeprodize sale and lose house. I can cope with having to spend a bit of money down the line. I don't think I need this replaced straight away.What do you think?

feelpablo · 13-03-2012 5:34pm

Verte11 wrote: »

There's an asbestos flat roofed extension on the property I'm buying. Bank are asking for quotes for it to be removed and replaced. Fair enough. Regardless of what the bank thinks, I wasn't going to be replacing it straight away. My friends have an asbestos roof on their lean-to. My parents also have asbestos in garage. As far as I'm aware it's okay unless I stand on the roof and break it or if it's damaged in parts.
If I can prove to the Banks I have the funds I'm ok but out of curiosity anyone out there living with an asbestos roof and still alive? My valuer thinks I should renegotiate price of house but I don't want to jeprodize sale and lose house. I can cope with having to spend a bit of money down the line. I don't think I need this replaced straight away.What do you think?

Get a quote to replace it and go back to the estate agent with a copy. get him to contact the seller re the price and tell him the bank has instructed you to do so.

Wont do anyharm as all the seller can say is no!

killers1 · 13-03-2012 5:52pm

Verte11 wrote: »

There's an asbestos flat roofed extension on the property I'm buying. Bank are asking for quotes for it to be removed and replaced. Fair enough. Regardless of what the bank thinks, I wasn't going to be replacing it straight away. My friends have an asbestos roof on their lean-to. My parents also have asbestos in garage. As far as I'm aware it's okay unless I stand on the roof and break it or if it's damaged in parts.
If I can prove to the Banks I have the funds I'm ok but out of curiosity anyone out there living with an asbestos roof and still alive? My valuer thinks I should renegotiate price of house but I don't want to jeprodize sale and lose house. I can cope with having to spend a bit of money down the line. I don't think I need this replaced straight away.What do you think?

Was this something highlighted on the valuation report or the structural survey?

Verte11 · 13-03-2012 6:02pm

Heya. It was highlighted on Valuation not structural survey but I had to show the bank both as house over 100 years old.

killers1 · 13-03-2012 6:11pm

Verte11 wrote: »

Heya. It was highlighted on Valuation not structural survey but I had to show the bank both as house over 100 years old.

I was just curious if you had sent a copy of the structural survey to the bank when there was no need to but as the property is over 100 yrs old they would have looked for it in any case. If you don't want to try to renegotiate the purchase price I'd suggest contacting your structural surveyor (not the Valuer) to see how much of an issue this really is. If he can write you a letter to confirm that a large number of properties consist of asbestos building materials as it was commonly used and shouldn't be an issue for the bank this may suffice. He'll also be able to provide an idea of how much it would cost to replace. I'd certainly recommend raising it either with the estate agent or via your solicitor to raise with the other side's solicitor to see if they would be willing to renegotiate the purchase price based on the cost of getting it replaced. I don't think it will be a deal breaker for the bank if you want to proceed as is at the agreed price though if your surveyor can give the bank some comfort around it.

Verte11 · 13-03-2012 6:16pm

Cheers Killers. We'll need to start paying you. My surveyor wont do an estimate because he says it's a specialist job. I got a company to email me a quote which was for around 2500. I have the cash so I hope that'll do the job. Just a bit paranoid now about the asbestos. I'd love someone to say' its grand you could leave that for a few years and replace it then' . I can't be arsed to renegotiate as there was already another offer of the same amount on property but the other bidder had probs with bank getting mortage so they took my offer. Jesus buying a house is well stressful I tell ya. I need a drink and it's only 5.15!

killers1 · 13-03-2012 6:27pm

Verte11 wrote: »

Cheers Killers. We'll need to start paying you. My surveyor wont do an estimate because he says it's a specialist job. I got a company to email me a quote which was for around 2500. I have the cash so I hope that'll do the job. Just a bit paranoid now about the asbestos. I'd love someone to say' its grand you could leave that for a few years and replace it then' . I can't be arsed to renegotiate as there was already another offer of the same amount on property but the other bidder had probs with bank getting mortage so they took my offer. Jesus buying a house is well stressful I tell ya. I need a drink and it's only 5.15!

You'll definitely need to start paying me now! Good timing! I was talking to a Structural Surveyor a few mins ago (on a different matter) so thought I'd ask his opinion on the asbestos. He said that if the roof is in generally good condition it is perfectly safe. He said he wouldn't advise drilling holes or anything in it as you don't want to disturb the fibres. If you decide further down the road to have it removed you need a firm with a specialist licence to dismantle, take it away and it actually get's sent abroad to be destroyed. Under no circumstances attempt to do this yourself! He said it's not unsafe in the slightest if in good condition. The fact that it's only going to cost €2,500 to replace & you have the funds this won't be an issue for the bank and I'm pretty confident they'll allow you to proceed as is. When something is highlighted like that on a valuation report they just want comfort around the fact that it's not going to cost €50k to replace and would effect their ability to re-sell the property in the event that you defaulted. He said it is very common in roofs prior to the 1980's when the dangers of asbestos were highlighted... Think you'll get over this hurdle easily enough....

Verte11 · 13-03-2012 9:41pm

Thanks for that. I really appreciate it. I hope it gets sorted tomorrow. Hopefully they'll accept this quote from asbestos company. Having a brandy now to calm self down. Any excuse

killers1 · 13-03-2012 9:54pm

Verte11 wrote: »

Thanks for that. I really appreciate it. I hope it gets sorted tomorrow. Hopefully they'll accept this quote from asbestos company. Having a brandy now to calm self down. Any excuse

With the cost only being €2,500 the bank won't have an issue. Enjoy your brandy! Let me know once it's been satisfied by the Bank. If they come back with any further queries let me know as a Surveyors letter ( doesn't have to be the one you used) confirming property is safe if roof is in good condition would suffice..

nemo32 · 14-03-2012 10:30pm

Contracts are finally in the solicitors... Yipeeee!!!!!
Need to get the gas and lecty turned back on now before I get my survey done.
Anyone know how much the reconnections usually cost and do they need to have access inside the house to reconnect?

killers1 · 15-03-2012 12:25am

nemo32 wrote: »

Contracts are finally in the solicitors... Yipeeee!!!!!
Need to get the gas and lecty turned back on now before I get my survey done.
Anyone know how much the reconnections usually cost and do they need to have access inside the house to reconnect?

Maybe I'm missing something here (haven't read your previous posts on this) but I take it you are the purchaser?? If so, why the hell are you arranging for the gas & lecky to be turned on? That's the owners responsibility....

nemo32 · 15-03-2012 12:28am

killers1 wrote: »

Maybe I'm missing something here (haven't read your previous posts on this) but I take it you are the purchaser?? If so, why the hell are you arranging for the gas & lecky to be turned on? That's the owners responsibility....

House is owned by the Bank and they have said they will take the cost of turning these things back on off the price of the house etc. As the original owners have been out of the house since Sept.

killers1 · 15-03-2012 12:34am

nemo32 wrote: »

House is owned by the Bank and they have said they will take the cost of turning these things back on off the price of the house etc. As the original owners have been out of the house since Sept.

That makes sense and sorry if I could've read that previously! Main thing is your not paying for it and that's what struck me when I read your last post... No idea of reconnection costs I'm afraid...

nemo32 · 15-03-2012 10:15am

So my next question is.......
They are saying our closing date will be 20th April. When will our first mortgage repayment come out if we close on that date? Are the banks flexible with the withdrawal date at all?

killers1 · 15-03-2012 10:18am

nemo32 wrote: »

So my next question is.......
They are saying our closing date will be 20th April. When will our first mortgage repayment come out if we close on that date? Are the banks flexible with the withdrawal date at all?

Who's your mortgage with?

nemo32 · 15-03-2012 10:33am

killers1 wrote: »

Who's your mortgage with?

AIB

killers1 · 15-03-2012 10:45am

nemo32 wrote: »

killers1 wrote: »

Who's your mortgage with?

AIB

You can specify the date on the DD mandate that you want your repayment to come out monthly. If you're closing on the 20th April your solicitor will drawdown funds a day or two beforehand so technically your first repayment is due around 19th May. If you want it to come out on the 1st monthly the first repayment would be 1st June. Learpholl had the same question a few pages back on this thread about mortgage repayment dates etc which should clear it up for you...

nemo32 · 15-03-2012 11:22am

killers1 wrote: »

You can specify the date on the DD mandate that you want your repayment to come out monthly. If you're closing on the 20th April your solicitor will drawdown funds a day or two beforehand so technically your first repayment is due around 19th May. If you want it to come out on the 1st monthly the first repayment would be 1st June. Learpholl had the same question a few pages back on this thread about mortgage repayment dates etc which should clear it up for you...

Great thanks Killers, your quick replies are brill

Yeah I would prefer end of mth or even right at the start.. Tks again

killers1 · 15-03-2012 11:52am

nemo32 wrote: »

killers1 wrote: »

You can specify the date on the DD mandate that you want your repayment to come out monthly. If you're closing on the 20th April your solicitor will drawdown funds a day or two beforehand so technically your first repayment is due around 19th May. If you want it to come out on the 1st monthly the first repayment would be 1st June. Learpholl had the same question a few pages back on this thread about mortgage repayment dates etc which should clear it up for you...

Great thanks Killers, your quick replies are brill
Yeah I would prefer end of mth or even right at the start.. Tks again

No problem, the emails come through to my phone so if I have a minute I'll send a quick response. Just make sure you specify the date you want it to come out when you fill out the DD mandate otherwise you'll need to do a letter to that effect further down the road...

Verte11 · 16-03-2012 4:11pm

Any ideas on this one anyone? I had to provide quotes to the bank for repairs that needed to be done,totaling 3000. Now they are issuing me a revised offer letter saying that they are giving me my mortgage amount minus the 3k, to allow the sale of the house to go through so for example 197 instead of 200. I can draw down the 3k once I prove I've had the repairs done. Slimy bank c**nts.Excuse me. They are making damn sure I do those stupid repairs that dont actually need to be done or else they are trying to not give me a mortgage. Does anyone know if I can appeal this? Will I have to fund the 3k out of my savings to allow the sale of the house to go through?
I have the money for those repairs in my savings account.If I have to fund the purchase of the house wiht them I wont actaully have the money to do the repairs. So in effect are they stopping me from doing the repairs? Has anyone else been in this situation? Do they definitely ask you to show that you have done the repairs,and within a certain time frame? Could I just fund the 3k myself and not do the repairs or will they still ask for proof. So annoyed

killers1 · 16-03-2012 5:09pm

Verte11 wrote: »

Any ideas on this one anyone? I had to provide quotes to the bank for repairs that needed to be done,totaling 3000. Now they are issuing me a revised offer letter saying that they are giving me my mortgage amount minus the 3k, to allow the sale of the house to go through so for example 197 instead of 200. I can draw down the 3k once I prove I've had the repairs done. Slimy bank c**nts.Excuse me. They are making damn sure I do those stupid repairs that dont actually need to be done or else they are trying to not give me a mortgage. Does anyone know if I can appeal this? Will I have to fund the 3k out of my savings to allow the sale of the house to go through?
I have the money for those repairs in my savings account.If I have to fund the purchase of the house wiht them I wont actaully have the money to do the repairs. So in effect are they stopping me from doing the repairs? Has anyone else been in this situation? Do they definitely ask you to show that you have done the repairs,and within a certain time frame? Could I just fund the 3k myself and not do the repairs or will they still ask for proof. So annoyed

Hi Verte11, are you at 92% loan to value on your existing loan offer?

Verte11 · 16-03-2012 5:12pm

90%

killers1 · 16-03-2012 5:15pm

Verte11 wrote: »

90%

Ok, they are being quite fussy about this. If you take €3k off your purchase price and keeping the loan amount the same what does that leave your loan to value at exactly? Did you see a copy of the valuation report? Did the valuation come in at the purchase price? What exactly did the valuer note in relation to the roof?

Villa05 · 16-03-2012 5:20pm

Is there anybody else fearful for people who buy now, 3 months before the property price database is up and running in June/July.

Absolute continuation of property obsession madness

Verte11 · 16-03-2012 5:20pm

I'm a bit crap with the LTV stuff so not sure. House is 160. so loan of 144. Yeah saw a copy of it. It listed asbestos flat roof as urgent repair. Also phoned valuer and he was an ass. Stood by his report and said my surveyor should have pointed it out.

killers1 · 16-03-2012 5:23pm

Verte11 wrote: »

I'm a bit crap with the LTV stuff so not sure. House is 160. so loan of 144. Yeah saw a copy of it. It listed asbestos flat roof as urgent repair. Also phoned valuer and he was an ass. Stood by his report and said my surveyor should have pointed it out.

Did the valuation report say the current market value of the property is €160k or the value in repair is €160k? Sorry for all the questions, I'll be able to explain their thinking on it for you but just want to see how best you can go about appealing this..

Verte11 · 16-03-2012 6:00pm

They said it was current valuation price:160 Valuation price on completion of essential repairs : 160

killers1 · 16-03-2012 6:22pm

Verte11 wrote: »

They said it was current valuation price:160 Valuation price on completion of essential repairs : 160

Ok here's what I suggest you do, email, fax or write the following to whoever is looking after your mortgage in AIB;

Re/ Property address....Loan A/c No.....

Dear Sir/Madam,

I refer to the above captioned homeloan and in particular your decision to re-issue a loan offer for a reduced amount of €141k as a result of an item raised by the Valuer on his valuation report. Please note I am aware that it is AIB's policy to lend up to 92% of the contract price or the valuation report whichever is the lessor. Even though your Valuer has indicated a current market value of €160k the costs of works involved in replacing the asbestos roof which is in a satisfactory & safe condition amount to €3k as per quotes I have submitted. The value in repair on this property as such has reduced to €157,000 despite your valuer still confirming it is worth €160k in it's current state. If you still need to issue an amended loan offer please issue an amended loan offer to reflect the value in repair i.e. €157k and keep the loan amount at €144,000 which is still less than 92% of the contract price of €160k & the Value in repair of €157k and is within AIB's lending policy. As you can see I have sufficient funds to complete the purchase and also sufficient funds to carry out the works required in due course.

Yours etc...

Try this and see how you get on...

What they are basically offering to do is to give you €141k so you would need to put an additional €3k from your savings to complete the purchase i.e. €19k instead of €16k. You would then arrange for the builders to come in and repair the roof. Once the work is completed you get the original valuer out to confirm that the works have been completed. He then gives AIB confirmation that the works are completed and they will release the €3k that you pay over to the builder for repairing the roof. At the end of the day the only difference is that you put the €3k you were planning to use for the roof repairs at some time in the future towards completing the purchase and then once the repairs are done the bank are paying for the repairs. You would probably need to do the works within 6 months or so to be able to still drawdown the €3k and the new loan offer will tell you how long the €3k will be available for. Try my method first and if they are still reluctant to give you the €144k up front then what I have just outlined is how it will work in reality.... hope this helps...

Verte11 · 16-03-2012 7:40pm

You are like the mortgage God. Thanks a million. I'm with Bank of Ireland think they only do 90% mortgages how do change the letter?

killers1 · 16-03-2012 8:11pm

Verte11 wrote: »

You are like the mortgage God. Thanks a million. I'm with Bank of Ireland think they only do 90% mortgages how do change the letter?

Ah ok, because you're with BOI this won't work because they only do 90% loan to value and won't exceed this level. It would have worked out if you had an AIB loan as they could have gone to 92% ltv. The way BOI are looking at this is that even though the contract price is €160k effectively the property is only worth €157k because there is €3k of works that need to be carried out. If they were to lend you €144k against a property they are valuing without the works being completed at €157k they would be at 91.7% LTV which is outside their policy (144/157 = .917 x 100 = 91.7%) They need to keep the loan below 90% at all times. The best way forward is to take the €141k they are offering. Then put the extra €3k from your savings to complete the purchase i.e. €16k (you thought you had to put towards it) + additional €3k as you are now €3k short so €141k + €3k +€16k = €160k. Then once you have moved in you can arrange to have the works done. As I said you may have up to 6 months or a year to do the works. It should specify on your new loan offer how long you have to drawdown the additional €3k. Once they are completed you arrange for the original valuer to come in to confirm to BOI that the works have now been completed and it is in order to release the additional €3k to pay for the roof repairs. At the end of the day you will have in effect paid €19k of your own money to buy the house and have the works done. This is the same amount you would have spent if they had lent you €144k and you had to pay for the work to be done out of your money. A little bit of swings and roundabouts but the fact that they can't go above 90% ltv is why they are insisting doing it that way... Sorry for getting your hopes up (silly of me to presume you had an AIB loan!) but I hope you understand the rationale behind it and understand that overall you are not out of pocket once you have the work done and drawdown the other €3k because ultimately you will have spent €19k of your money and borrowed €144k in total...

Learpholl · 16-03-2012 9:51pm

Verte, surely you should be going back to the seller of the house and letting them know that the bank will not issue the loan for the agreed price due to the asbestos roof and they will need to reduce their price for the sale to go through. I would be very surprised if the sellers were willing to walk away from the sale for the sake of 3k.

My engineer spotted an issue with the drainage before I purchased and I went to the auctioneer and told them my solicitor advised me not to go ahead with the purchase until the drainage issue was fixed. So then the seller went away and done the necessary repair works to the drainage system. And although it was frustrating having to wait that bit longer for the work to be done, it was worth it in the end to know that we wouldn't face issues with it.

killers1 · 16-03-2012 10:03pm

Learpholl wrote: »

Verte, surely you should be going back to the seller of the house and letting them know that the bank will not issue the loan for the agreed price due to the asbestos roof and they will need to reduce their price for the sale to go through. I would be very surprised if the sellers were willing to walk away from the sale for the sake of 3k.

My engineer spotted an issue with the drainage before I purchased and I went to the auctioneer and told them my solicitor advised me not to go ahead with the purchase until the drainage issue was fixed. So then the seller went away and done the necessary repair works to the drainage system. And although it was frustrating having to wait that bit longer for the work to be done, it was worth it in the end to know that we wouldn't face issues with it.

Hi Learpholl, yeah that was suggested a few pages back and is certainly an option. I think there was an under-bidder who may still be interested in the property and problem is that if someone is willing to offer the current asking price and is borrowing less than the 90% ltv the roof wouldn't really be an issue for them as the bank wouldn't be insisting that it is repaired. As far as I can tell it's in good condition as is. In your case the surveyor probably pointed out the the drains should be serviced and any blockages removed. This probably only cost a couple of hundred Euro as opposed to €3k in this case so the owner might just go back to the previous bidder to see if they are willing to pay the €160k... It's certainly worth asking the vendor though to drop the price and produce a copy of the valuation report & estimates to back this up...

Verte11 · 16-03-2012 10:11pm

HI Learpholl. What you're saying makes sense.
Killers, thanks again that makes sense too!

Verte11 · 16-03-2012 10:18pm

Yeah but scared of losing property. The other bidder was offering same amount but I appeared more 'ready to go' with mortgage. If I mess around with sale price they are likely to go back to that bidder- if they're still around that is. Still, it's not something I'm confident enough to do. In the meantime if I get my engineer to verify that he doesn't think the roof needs replacing then that might counteract what the valuer said.He's willing to write a letter saying he doesn't think it needs replacing. Now whether they definitely accept that is another thing.

killers1 · 16-03-2012 10:25pm

Verte11 wrote: »

Yeah but scared of losing property. The other bidder was offering same amount but I appeared more 'ready to go' with mortgage. If I mess around with sale price they are likely to go back to that bidder- if they're still around that is. Still, it's not something I'm confident enough to do. In the meantime if I get my engineer to verify that he doesn't think the roof needs replacing then that might counteract what the valuer said.He's willing to write a letter saying he doesn't think it needs replacing. Now whether they definitely accept that is another thing.

The more I think about it the more I think you should fight your battle with BOI to give you the €144k. At the end of the day the valuer (their valuer!) has valued the current market value of the property @ €160k and the value on completion of the repairs at the same figure. So, there should be no reason for BOI to reduce your loan amount as the loan to value is still 90% & within their policy. I can see where they are coming from but they lose a huge part of the argument by the Valuer not having noted a lower value on the property before the works are done. Get a letter from your Structural Surveyor confirming the works are not essential and then raise the issue that the Bank's valuer has confirmed that the property is suitable security for the loan and that it's current value (in it's current condition) is €160k. They don't have an issue with giving you €144k as you've already had a loan offer at that amount so you just need to convince them as outlined above and using the actual val report & surveyors letter to prove your case...

Verte11 · 16-03-2012 11:01pm

That sounds like a reasonable plan. Thanks. So are you a mortgage broker then? You know your stuff

killers1 · 16-03-2012 11:09pm

Verte11 wrote: »

That sounds like a reasonable plan. Thanks. So are you a mortgage broker then? You know your stuff

Thanks, I am indeed. People often debate should they go directly to the Bank's or use a broker... I'd like to think that I've answered that question. It's better to have someone fighting your corner who knows the process inside out when it comes to negotiating with the banks.

Verte11 · 16-03-2012 11:27pm

Yes starting to regret not going down the broker route myself now

killers1 · 16-03-2012 11:34pm

Verte11 wrote: »

Yes starting to regret not going down the broker route

You'll know the next time!!

Man007 · 17-03-2012 12:06pm

Hi just received our loan pack yesterday the question I have is

Is this all the banks checks finished now as in credit checks and loan history or will they perform any more checks before drawing down the mortgage

killers1 · 17-03-2012 12:34pm

Man007 wrote: »

Hi just received our loan pack yesterday the question I have is

Is this all the banks checks finished now as in credit checks and loan history or will they perform any more checks before drawing down the mortgage

All the Underwriting is finished at that stage and your loan has been passed to the completions Dept who simply mark off the conditions on the loan offer as they are received I.e legal docs, life cover, home ins, DD mandate and other special conditions specified. The bank have done their icb check prior to the loan offer being issued and won't do another one. There'll be no more further underwriting docs like bank statements, income docs etc required. Once you have a loan offer issued from a credit point of view you are done and dusted!

Zikiz · 21-03-2012 5:41am

Hi,
I'm in a process of buying the house.
Received copy of folio from the solicitor and learned, that two storey extension at the back of the house and huge garage are missing from the map (just a little shed, instead of a 50sqm garage). Its this situation is normal or should I ask/demand seller to update the map? So that extension and a garage should be clearly seen on the map. Solicitor said that that's ok, we can go ahead and buy with no fear. But I mean, a whole building and two storey extension...just not on the map. I'm afraid, that once I buy like this, later I might have problem of selling it or even may receive and ordering from the authorities to demolish illegal constructions.

killers1 · 21-03-2012 9:56am

Zikiz wrote: »

Hi,
I'm in a process of buying the house.
Received copy of folio from the solicitor and learned, that two storey extension at the back of the house and huge garage are missing from the map (just a little shed, instead of a 50sqm garage). Its this situation is normal or should I ask/demand seller to update the map? So that extension and a garage should be clearly seen on the map. Solicitor said that that's ok, we can go ahead and buy with no fear. But I mean, a whole building and two storey extension...just not on the map. I'm afraid, that once I buy like this, later I might have problem of selling it or even may receive and ordering from the authorities to demolish illegal constructions.

So long as there was planning permission granted for the extensions and that your solicitor receives a copy of the PP and the Architects Cert of Compliance with the Deeds you have nothing to worry about in relation to the folio map (which can often be out of date). I'd be guided by your solicitor on this one and it sounds as though they are happy to allow you to proceed...

crunchiecarms · 23-03-2012 3:38pm

Hi guys,
Hope someone here can help me with this query. Just wondering about mortgage repayments for a couple who's salaries are significantly different by about €10,000. My husband earns more than I do, is there a calculation based on both of our salaries to work out how much of a repayment we both should make into the mortgage?
Like a few others here, we went sale agreed on 30th January and were due to move in TODAY, however following a chimney issue, for which we got a reduction in the sale agreed price, there was a delay then with the bank issuing the final letter of offer and the vendors apparently missed out on renting a house in March and told us that they house they would be moving to wouldnt be ready until 2nd April and with closing sale and Easter hols (for solicitors!!) they tried to have the moving date pushed back to 10th April. BUT needless to say they didnt mention any of this UNTIL we had signed the contracts and already given notice to our landlord. Landlord has our apartment rented to another couple from 1st April. He tried to have that changed but that couple had already given notice. So we pushed and got the date changed to Holy Saturday 7th April. So luckily we have a week more in the apartment but from Saturday week 31st March, we're out on our ear. We had to rent a self-storage place for a few weeks and we're now staying in a hotel for 4 nights before we move in!! So hope all that goes to plan and who knows as it's Holy Saturday we move in, we might be doubly blessed as opposed to moving on a Friday :-)

killers1 · 23-03-2012 5:10pm

crunchiecarms wrote: »

Hi guys,
Hope someone here can help me with this query. Just wondering about mortgage repayments for a couple who's salaries are significantly different by about €10,000. My husband earns more than I do, is there a calculation based on both of our salaries to work out how much of a repayment we both should make into the mortgage?
:-)

If you have decided not to contribute equally to the mortgage repayment then the amount you each should pay will depend on your actual incomes. If you earn €40k and he earns €50k then he earns 20% more than you so should pay 60% of the mortgage repayment & you pay 40%. Alternatively if you earn €90k and he earns €100k, then he earns 10% more than you so then you should pay 45% of the repayment and he pay 55%...etc etc...Hope you get your keys before the hotel bills start to clock up too much....

Buying a house 2012

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