Saving/Applying for a mortgage 2015/16/17/18/19

zedhead

mossy464 wrote: »

I feel your pain. Looking in D12 for the past 8 months. It's absolutely draining and it's really gone crazy.

Don't know if we'll ever get there.

Houses which were achievable last year are now out of reach. EA's really add fuel to the fire also.

Got a text last week on a house we were viewing saying, "Alert Final viewing", then at the viewing on Saturday EA said they needed to know that day if we were bidding as it was closing Monday, putting the pressure on. Then Monday morning they sent out another text for another "alert final viewing" and the bidding went crazy on Monday.

Last I heard the bid was 80K over asking for a 2 bed that needs work. Sick of the whole thing.

They definitely do add fuel. Having open viewings where there are 20+ people there to try and instigate the competition. When they are so packed you can hardly get a good look at the place to even decide but feel pressure to bid. Or arranging other viewings after the bidding is already a good bit over asking, sometimes even adjusting the asking price to fuel higher bids.

We are trying to look at things at an 'asking' that is enough under our top budget to allow for bidding- but the pool of that is much smaller and there seems to be much more competition for not great houses.

boris1234

Quick question: Is it generally a good idea to take out your mortgage with a different bank to those that you do your day to day banking with? Heard this theory from a relative that it's not a good idea to use the same bank as the bank will always hold the mortgage against you for anything in the future, such as if you want to take out smaller personal loans etc.

I would have thought that you would need to declare that you have a mortgage anyway to any other financial institutions if looking for a loan so not sure if it would have much affect.

Interested to hear other peoples thoughts on this.

Cheers

ELM327

Has anyone any experience of applying with AIB for a personal mortgage? I have submitted my application in person to AIB last week, but already the first two "we'll call you back" promises have been missed.
It's not a great indicator of the future process so I was wondering if this was pretty standard?

iluvfatfrogs

ELM327 wrote: »

Has anyone any experience of applying with AIB for a personal mortgage? I have submitted my application in person to AIB last week, but already the first two "we'll call you back" promises have been missed.
It's not a great indicator of the future process so I was wondering if this was pretty standard?

We used AIB for our personal mortgage, but we went to a small rural branch, they couldnt do enough for us and besides a few small admin issues, the whole process went very smooth.

But we chose the small branch purposefully for that reason

Santy2015

boris1234 wrote: »

Quick question: Is it generally a good idea to take out your mortgage with a different bank to those that you do your day to day banking with? Heard this theory from a relative that it's not a good idea to use the same bank as the bank will always hold the mortgage against you for anything in the future, such as if you want to take out smaller personal loans etc.

I would have thought that you would need to declare that you have a mortgage anyway to any other financial institutions if looking for a loan so not sure if it would have much affect.

Interested to hear other peoples thoughts on this.

Cheers

Hi, I'm with BOI and got a mortgage with them last year. Since then I've applied for a home improvement loan and had no problem at all getting it. All banks will ask you if you have a mortgage I'd imagine. I applied online and didn't even talk to anyone. Money went straight into our account 3/4 days later

somesoldiers

boris1234 wrote: »

Quick question: Is it generally a good idea to take out your mortgage with a different bank to those that you do your day to day banking with? Heard this theory from a relative that it's not a good idea to use the same bank as the bank will always hold the mortgage against you for anything in the future, such as if you want to take out smaller personal loans etc.

I would have thought that you would need to declare that you have a mortgage anyway to any other financial institutions if looking for a loan so not sure if it would have much affect.

Interested to hear other peoples thoughts on this.

Cheers

You may be obliged to declare any mortgages when applying for a loan. In any case aren't they creating some central register of all loans etc, heard snippets of some such on the radio. Link below
https://www.centralbank.ie/consumer-hub/explainers/what-is-central-credit-register

Islander13

Such a register already exists. Its call the Irish Credit Bureau (ICB). Any irish mortgage will show up there (along with Credit cards and personal loans). A bank will generally find from that what debt you have. If you've missed a payment on any loan they will also know. Think data stays live on the ICB for 5 years

Confused ftb

Has anyone had any trouble with life insurance because of ongoing medical issues? Nothing too serious but investigative.

Bored Accountant

Confused ftb wrote: »

Has anyone had any trouble with life insurance because of ongoing medical issues? Nothing too serious but investigative.

We had to jump through a bunch of hoops to keep them happy. But that was for the Serrious Illness cover we got.
They gave the mortgage protection no problem. We ended up taking out the policy so we could draw down, and then added the serious illness cover for my OH about a month or 2 when they were finally happy.

somesoldiers

Confused ftb wrote: »

Has anyone had any trouble with life insurance because of ongoing medical issues? Nothing too serious but investigative.

Nightmare for me. Artery blockage at age 30, that was 11 years ago, couldn't get LA for 1st mortgage 8 years ago, they waived cover as my wife had it.

Applied again recently and couldn't get LA at all.my wife still has cover but is stay at home right now.i went through a guy based in Offaly who was great and was able to go straight to 6 insurers and they all said no without me having to fill out endless forms. I ended up having to fill forms for two anyway to get refusal letters for my 2nd mortgage application, one got me to send on results from a recent ECG , stress test etc which were all as positive as I am ever likely to get and still said no, come back to us in 5 years (if I'm not then by then, I felt like saying)

My advice go to an insurance broker that specialises in existing conditions, google should bring up my guy or PM me if you like. He wasn't able to help me but gave sound advice. Ultimately it isn't necessarilythe end of the road but it makes it a bit longer alright . Good luck

Confused ftb

somesoldiers wrote: »

Nightmare for me. Artery blockage at age 30, that was 11 years ago, couldn't get LA for 1st mortgage 8 years ago, they waived cover as my wife had it.

Applied again recently and couldn't get LA at all.my wife still has cover but is stay at home right now.i went through a guy based in Offaly who was great and was able to go straight to 6 insurers and they all said no without me having to fill out endless forms. I ended up having to fill forms for two anyway to get refusal letters for my 2nd mortgage application, one got me to send on results from a recent ECG , stress test etc which were all as positive as I am ever likely to get and still said no, come back to us in 5 years (if I'm not then by then, I felt like saying)

My advice go to an insurance broker that specialises in existing conditions, google should bring up my guy or PM me if you like. He wasn't able to help me but gave sound advice. Ultimately it isn't necessarilythe end of the road but it makes it a bit longer alright . Good luck

Thanks for the reply, so u were able to get the mortgage with only ur wife having insurance?

The_Conductor

Confused ftb wrote: »

Has anyone had any trouble with life insurance because of ongoing medical issues? Nothing too serious but investigative.

200% weighting, death only policy - Crohn's Disease.

somesoldiers

Confused ftb wrote: »

Thanks for the reply, so u were able to get the mortgage with only ur wife having insurance?

1st Mortgage was with EBS, yes they waived cover for me as wife had in place. Wife was working full time

2nd Mortgage is with UB,(not 100% through it yet about 95% there on other issues) but it hasn't been an issue once I provided refusal letters. Wife is not working currently but has LA in cover for herself from last time

Donkeygonads

Confused ftb wrote: »

Has anyone had any trouble with life insurance because of ongoing medical issues? Nothing too serious but investigative.

I signed for a Mortgage 2 months ago with a LTV of 20%, all other documentation complete ... and then the mortgage protection provider was looking for a doctors report , due to an irregular heartbeat issue as a result of endurance training for a half ironman triathlon last summer. I'm 38 , male and had one fainting incident .... all tests since have shown all clear , i've had no surgery or medication .. and have been waiting to have an Electrophysiology study as a final test, but there is a long waiting list as i've no private health insurance.... it was a spanner in the works i wasn't expecting .... In the end, this was delaying the closing date and the vendors solicitor was threatening to pull out of the sale so i was blessed i could put down a sizeable deposit and got a personal loan to cover the difference to avoid risking losing the sale .... but it was a rite headache .

machalla

Donkeygonads wrote: »

I signed for a Mortgage 2 months ago with a LTV of 20%, all other documentation complete ... and then the mortgage protection provider was looking for a doctors report , due to an irregular heartbeat issue as a result of endurance training for a half ironman triathlon last summer. I'm 38 , male and had one fainting incident .... all tests since have shown all clear , i've had no surgery or medication .. and have been waiting to have an Electrophysiology study as a final test, but there is a long waiting list as i've no private health insurance.... it was a spanner in the works i wasn't expecting .... In the end, this was delaying the closing date and the vendors solicitor was threatening to pull out of the sale so i was blessed i could put down a sizeable deposit and got a personal loan to cover the difference to avoid risking losing the sale .... but it was a rite headache .

Its very frustrating to be dealing with mortgage protection but its the one thing that I've seen hold everything up.

I actually put one in place months before I got near to sale-agreed, and added an additional year to the policy so that it gave me the leeway of up to a year without having to extend the policy to suit the banks mortgage dates

bigronnie9

Finally got an offer accepted on a house!

Can anybody recommend an Engineer in Cork who would be good to use in an already underpinned house?

Thanks!

zl1whqvjs75cdy

Congrats bigroinne. Afraid I can't offer much in the way of recommendations, not my neck of the woods.

Have moved back in with the folks now to save the deposit so getting involved here properly. Herself moved back with me too which is making it bearable, but it's some culture shock. Both living with parents and being much further from Dublin. We previously lived in Dundrum which was great for the social life, not so great for the house deposit. Anyone any particular advice on sticking it out, and how long did people end up staying in their parents for those that did move back?

LirW

We did it for over a year and have to hang in until Christmas.

We lived abroad, I moved to Ireland with him into his parents house and I don't wanna be a bummer but I found it really, really hard. Living alone for many years and moving in someone elses house did down me a lot honestly and had a huge impact on me. I'd make sure that the boundaries are clear and you're able to speak open about everything that bothers you and also the other way around. My man's parents tend to treat him like a little boy, he's the only-child. They are lovely people but living with them drives me absolutely nuts.

Go to work, come home, go out, do your stuff, don't stop with it. Have your hobbies and just think that there is a light at the end of the tunnel. Hang in there, it'll pay off.

Nobody can tell you how long. What deposit do you need, how much can you save etc etc. If you have any debts like loans or credit card bills, clear that first, make sure you stay away from gambling and have a close look at your outgoings and see what you can cut and still feel comfortable with. Banks will closely look at that and especially at the last 6 months before application.

MissElle

So today we finally got the keys to our new home! We both moved back home separately to our parents houses two years ago this month, it was hard at times but today its so worth it! We sat out the back, no furniture or flooring in but had champagne out of plastic glasses, the best feeling ever Good luck to everyone saving or looking at the minute!

Glen_Quagmire

MissElle wrote:

So today we finally got the keys to our new home! We both moved back home separately to our parents houses two years ago this month, it was hard at times but today its so worth it! We sat out the back, no furniture or flooring in but had champagne out of plastic glasses, the best feeling ever Good luck to everyone saving or looking at the minute!

Congratulations best of luck in your new home

purpleisafruit

If doing a self build, is it ok to change jobs in the middle of the build?
Let's say, if I've taken a couple of stage payments and then get offered a new job, will this affect future drawdowns?

GaGa21

Maddux Shallow Reptile wrote:

Anyone any particular advice on sticking it out, and how long did people end up staying in their parents for those that did move back?

Anyone I knew that moved back with parents were there a minimum of 1 year to 2 years. Hard going but they have their houses now.

bigronnie9

donkeyoaty0099 wrote: »

Anyone any particular advice on sticking it out, and how long did people end up staying in their parents for those that did move back?

moved home for about 6 months, we were lucky enough to have been paying low enough rent for the couple of years prior to this so we were able to save away then.

I'd recommend making sure ye both have hobbies for the evening, whether its with each other or seperate!

Great time to join a gym or take up running, both would get you out of the house in the evening. Its not too bad if your going from work to hobby then home for shower instead of just going from work to home

Bawnmore

Anyone have any experience with applying for a mortgage and cryptocurrency transactions to/from your bank account? Is it flagged similar to gambling perhaps?

MentalMario

Bawnmore wrote: »

Anyone have any experience with applying for a mortgage and cryptocurrency transactions to/from your bank account? Is it flagged similar to gambling perhaps?

I'd say they'll just ask what the transactions are. If it's not Bitcoin, they'll probably have never heard of it so will want to know what it is.

MentalMario

Anybody ever come across an EA that just won't come back to you?

A property went up on Daft last week.

Have emailed and rang but both have been ignored this week.

Irritating.

zedhead

Well we are sale agreed again - hoping things go a little more smoothly and quickly than last time. It's pretty much a year since we first started looking - hopefully we have a home by the end of this year. It really is a tiring, heartbreaking process. I don't know how people do this more than once in their lifetime - once we have a home I never plan on moving again!

somesoldiers

zedhead wrote: »

Well we are sale agreed again - hoping things go a little more smoothly and quickly than last time. It's pretty much a year since we first started looking - hopefully we have a home by the end of this year. It really is a tiring, heartbreaking process. I don't know how people do this more than once in their lifetime - once we have a home I never plan on moving again!

I hear ya.we sold our house 2years ago to build near our home town,worst decision ever. Still going back and forth with bank.the first time was bad enough but as my wife is stay at home it's been a nightmare.
I have my deposit sitting there this 2 years earning no interest and am wasting money on rent every week they drag this out! Meanwhile I have planning but can't engage a builder as I can't get an affirmation they will give me the money I want.ther is only 20k in the difference and meanwhile price of building is going up too.

Can you send me a copy of the statement showing your children's allowance being paid?
I need to talk to you about Healthcare Bik
I need to ask you about your pension contributions
What lump sum will you get on retirement
Oh it's been so long now due to all the above we need all original statements again
I know we have a salary cert from your HR but we don't believe them and need to see this coming into your bank over the next 2 months before we will even look at your application

I actually think they are just having a laugh

Heart Break Kid

donkeyoaty0099 wrote: »

Have moved back in with the folks now to save the deposit so getting involved here properly.

Its so much easier for saving. No kids eieither that helps. We try to do 1900 to 2000 a month for the past year. Its a pain but got approved. The 3.5 time income really caps us at options though.

zl1whqvjs75cdy

Heart Break Kid wrote: »

Its so much easier for saving. No kids eieither that helps. We try to do 1900 to 2000 a month for the past year. Its a pain but got approved. The 3.5 time income really caps us at options though.

Thanks for all the tips so far. Yeah the deposit is going to be OK thanks to hotel mam and dad, but the 3.5 does hold you back a bit. In a good way though, don't really want to pay, 500 k for a 3 bed semi detached an hour from city centre!