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20% mortgage deposits, house price dip?

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    #62
    Frank Lee Midere
    Closed Accounts Posts: 3,780 ✭✭✭Frank Lee Midere


    Glenbhoy wrote: »
    As in interest rate? If so, no difference, as you rightly say, this is all about reducing bank exposure, if you get a gift and have proof that this is in fact a gift and that the donor has no beneficial entitlement to the property being purchased, the bank will give you the same rate as for anyone else on the LTV.
    What they do look at though is whether or not you have the capacity to make the repayments, they look at the repayments on your desired loan (+1.5% stress tested) and check that your rental payments or rental and savings are at least equal to that stress tested repayment for at least the last 6 months.

    Yes but that might not work for the people getting gifts for deposits. I mean why would they need the gifts if they can save.


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    #63
    Idbatterim
    Registered Users Posts: 17,852 ✭✭✭✭Idbatterim


    one extreme to another 100% mortgages and now 20% deposit required, 12.5-15% would be a good middle ground IMO... That said, if prices come down a little because of this, then the % will be reached quicker...


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    #64
    Glenbhoy
    Registered Users Posts: 1,853 ✭✭✭Glenbhoy


    Idbatterim wrote: »
    one extreme to another 100% mortgages and now 20% deposit required, 12.5-15% would be a good middle ground IMO... That said, if prices come down a little because of this, then the % will be reached quicker...

    Which is exactly the point that the many, many opponents of this measure fail to mention, one would wonder if they have an agenda of some sort??


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    #65
    Mr.McLovin
    Registered Users Posts: 470 ✭✭Mr.McLovin


    CB changes to lending and end to CGT versus illogical Irish people and media in overdrive peddling panic

    double digit rises for next year I'm betting, sure its good because we'll all be richer, from todays times...
    Number of Irish millionaires hits 90,000 as property prices surge

    where there's a will there's a way and people will find away of fiddling the system and get the giant mortgage they so desperately desire...

    I see the indo seem to be taking the up the fight for first time buyers wronged by the CB's scandalous decision to 'lock them out of the market', it wasn't a problem when they where being priced out of the market earlier in they year once they could bury themselves in debt...

    the mind boggles.


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