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Does this sound right....

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  • 10-02-2009 11:33am
    #1
    unklerosco
    Registered Users Posts: 7,828 ✭✭✭


    Sounds a bit mad to me but here's the story...

    GF's brother is looking to buy his gfs mams house. Originally she was gonna sell it and give them a hand buying a new place but instead she's selling them the house at a lower price.

    Anyways, himself and the missus where off talking to a friend of the mams who's a mortgage broker. He told them they'd have no problem getting the mortgage, once they where earning around €50k between them.

    Now, afaik they've a clear credit history. He's a plumber working for his bro in law and she is covering someone for maternaty leave.

    Is it just me or would a bank be mad to go for a couple, one of whome is in construction and the other doing her first full time job in 3 years....

    As is the usual with families the GFs mam n sisters are telling her to go see this mortgage broker... Me, I'll be telling them to bugger off. There's not a chance in hell I'm going looking for a mortgage anytime soon. Its far to big a risk at the mo with jobs going the way they are. Hell, I might be out of work in two weeks time...


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    #2
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    It does sound a little too good to be true.
    There is no harm in going to the Mortgage Broker and finding out the details.
    To be honest- I'd be shocked if any of the major Irish lending institutions were willing to give a mortgage in the current climate, given the circumstances you have outlined.

    S.


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    #3
    niceirishfella
    Closed Accounts Posts: 5,538 ✭✭✭niceirishfella


    He's a plumber - construction related job........it'll be hard for him to get a mortgage.


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    #4
    unklerosco
    Registered Users Posts: 7,828 ✭✭✭unklerosco


    Thats what I thought... Will be interesting to see. His GF is mad excited tho cause of what the broker said. Hate to see people like that, we'd a similar experience a few years ago when a broker told us we'd been approved by a NIB. He left that message on a Friday afternoon, tried to ring him the next week but he was on holidays. When he came back he said that we weren't approved.. He cocked the whole thing up, dragged it on for 3 weeks longer than it should have taken. The GF was heartbroken...


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    #5
    Victor
    Registered Users Posts: 78,392 ✭✭✭✭Victor


    Be very careful with this.

    Is the mother giving them a reduction on the 2007 price or the 2009 price? The last thing one wants is to fall out with family over money.

    What sort of savings do they have?

    What are the tax implications of such a gift + stamp duty?


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