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

myshirt

Michellenman wrote: »

We've been approved for 4.1 x our basic salaries but they're taking in to consideration commission and bonuses paid too as they've been consistent over last 3+ years.

So 3.5 times your salary including bonuses?

Michellenman

myshirt wrote: »

So 3.5 times your salary including bonuses?

I'm not entirely sure to be honest. Some banks included a percentage of our bonuses/commissions and others didn't according to the broker but all came back with a loan offer in and around the same value.

ad1234

Can anyone recommend a broker in the north wicklow /south dublin area? Preferably that receives their fees from the banks? Thanks!

Cocobongo

myshirt wrote: »

So 3.5 times your salary including bonuses?

I think on some applications they do ask "how much bonus are you entitled to" and "how much is guaranteed". I've asked about this in bank of ireland as i'm entitled to quite a lot, but i didn't get a coear answer anyway as for what i actually get the sum is much smaller

zedhead

Michellenman wrote: »

I'm not entirely sure to be honest. Some banks included a percentage of our bonuses/commissions and others didn't according to the broker but all came back with a loan offer in and around the same value.

Ours was the same. My partner is self employed and I got a signed cert stating how much of each bonus I had achieved for the past 3 years (consistently above 90%) so we were not sure exactly what figure the bank took for our salary as it was an average for both of us. Each bank approved us for different amounts and we got an initial amount when we were looking but told we would be able to get an exception on the loan to income when we found a property. I would say in the end we got close to 4.25 times our salary (including the bonus).

Bananaleaf

Can I ask is this normal - saw a house listed that we were interested in. Phoned estate agent to enquire about viewing. It took her 24hrs to get back to me. We asked about viewing on Tuesday (yesterday) She said she would check that out and get back to us on the Tuesday. It's 11:30am now on Wednesday and I've still heard nothing. Rightly or wrongly, we waited in for her call yesterday.

Is it really up to me to do this level of chasing? Is this normal behaviour from an EA? Would this make you think twice about the property if this is how she does business?

MaudL

Bananaleaf wrote: »

Can I ask is this normal - saw a house listed that we were interested in. Phoned estate agent to enquire about viewing. It took her 24hrs to get back to me. We asked about viewing on Tuesday (yesterday) She said she would check that out and get back to us on the Tuesday. It's 11:30am now on Wednesday and I've still heard nothing. Rightly or wrongly, we waited in for her call yesterday.

Is it really up to me to do this level of chasing? Is this normal behaviour from an EA? Would this make you think twice about the property if this is how she does business?

Yep, that's pretty much normal unfortunately. Unless you chase it up you'll never hear back...

Bananaleaf

MaudL wrote: »

Yep, that's pretty much normal unfortunately. Unless you chase it up you'll never hear back...

Okay, well at least I know, so I won't bother flying off the handle with her then. Pretty shabby level of customer service for the seller though.

Thanks for reply

fg1406

Bananaleaf wrote: »

Okay, well at least I know, so I won't bother flying off the handle with her then. Pretty shabby level of customer service for the seller though.

Thanks for reply

I've been viewing properties for the past few months and yes it's normal for estate agents to not get back to you re: viewings or to not facilitate viewings outside of mon-fri 9-5. Its very frustrating but they don't give a ****e.

whatever76

I've had mixed experiences ( all in cork) - some are great for booking in and some do require the chase up but in general I have to say its been good ! I've had some as late as 6.30 which is great for outside work hours.

What I love are the open day viewings cause at least then you can plan around it and go for first viewing to see if its worth pursuing with EA !

TheShow

Estate agents are the rodents of society. Hate dealing with them, they certainly do not earn anything near the fee they charge. They act as if they are doing you a favour and in my view, they are partly (big part) responsible for the property bubble/crash in the last decade.

MentalMario

TheShow wrote: »

Estate agents are the rodents of society. Hate dealing with them, they certainly do not earn anything near the fee they charge. They act as if they are doing you a favour and in my view, they are partly (big part) responsible for the property bubble/crash in the last decade.

Personally, I think solicitors are worse. A lot worse.

Cyrus

TheShow wrote: »

Estate agents are the rodents of society. Hate dealing with them, they certainly do not earn anything near the fee they charge. They act as if they are doing you a favour and in my view, they are partly (big part) responsible for the property bubble/crash in the last decade.

depends on who you are dealing with imo

i certainly think the fee they charge represents better value than recruitment agencies

Michellenman

How long is a reasonable amount of time to wait for a counter offer? We've had an offer in on a house for the last week and a half. The underbidder continually saying they are thinking about it etc and haven't put in a bid. I know a week and a half isn't a long time at all but just want to prepare myself in case it would normally stretch out for weeks on end. Will the agent/vendor eventually ask them to call it one way or another and either bid of declare out? Can we encourage this in anyway? Keen to get moving...

TheShow

Michellenman wrote: »

How long is a reasonable amount of time to wait for a counter offer? We've had an offer in on a house for the last week and a half. The underbidder continually saying they are thinking about it etc and haven't put in a bid. I know a week and a half isn't a long time at all but just want to prepare myself in case it would normally stretch out for weeks on end. Will the agent/vendor eventually ask them to call it one way or another and either bid of declare out? Can we encourage this in anyway? Keen to get moving...

Thats whats wrong with the market here in my opinion. IF you are actually bidding against a real person and not just a figment of the agents sub-conscious, if they don't come back with a bid within 24 hours then they should be off the table. A week and a half is just ridiculous, sounds to me like they may know the agent/vendor who appears to be giving them an unfair advantage. IF you really want it, call the agent and give the vendor a deadline to accept your offer, being the current highest offer or you're walking. I would defo be putting pressure on the agent to move it along here.

fg1406

TheShow wrote: »

Thats whats wrong with the market here in my opinion. IF you are actually bidding against a real person and not just a figment of the agents sub-conscious, if they don't come back with a bid within 24 hours then they should be off the table. A week and a half is just ridiculous, sounds to me like they may know the agent/vendor who appears to be giving them an unfair advantage. IF you really want it, call the agent and give the vendor a deadline to accept your offer, being the current highest offer or you're walking. I would defo be putting pressure on the agent to move it along here.

Yep I posted here a week ago with the exact sa

fg1406

TheShow wrote: »

Thats whats wrong with the market here in my opinion. IF you are actually bidding against a real person and not just a figment of the agents sub-conscious, if they don't come back with a bid within 24 hours then they should be off the table. A week and a half is just ridiculous, sounds to me like they may know the agent/vendor who appears to be giving them an unfair advantage. IF you really want it, call the agent and give the vendor a deadline to accept your offer, being the current highest offer or you're walking. I would defo be putting pressure on the agent to move it along here.

Yep I posted here a week ago with the exact same issue so I rang EA last week and withdrew my offer. That brought alleged underbidder back to being primary bidder. (They offered 216 and we offered 219). I got my sister to ring EA this morning to ask for a viewing and to see what bids are on the house and EA as brazen as brass said only 1 bid of €219.

Give them the deadline and move on. You might find they'll call you back in a week or two if they are getting nowhere. You need to understand that you could get played and if you give them half a chance, they'll play you.

Jake2

Finally got my contracts in from the vendors solicitor, 6 week wait. Hoping its a quick process from here on. This is my second round as 1st house fell through 5months into the process.

So here I am 7 and half months in...hopeful that I will get the keys in the next 4 weeks...still can not understand why this process is so difficult but Im sticking in there

whatever76

Prob a silly question but here goes - If you agree on a price of sale we EA and if Engineer report comes back with some significant issues - can you at that point renegotiate on the price or are you locked in to the price that you agreed - therefore back out of the purchase ?

LirW

You can try to re-negotiate the price but it's entirely up to the vendor to budge on the price or not. If you don't wanna put up with it you can back out. Make sure what you're willing to pay and where you draw your personal line.

Bananaleaf

LirW wrote: »

You can try to re-negotiate the price but it's entirely up to the vendor to budge on the price or not. If you don't wanna put up with it you can back out. Make sure what you're willing to pay and where you draw your personal line.

In the case of backing out is any deposit you have paid (booking deposit) refundable? Do you only pay for solicitor/engineer in this case? Thanks

LirW

Booking deposit is refundable until you sign contracts, so yes. Survey is entirely on you on course and regarding the solicitor, have a word with yours, there might be such a small admin fee on top of the conveyancing. But that depends, so ask him.

Jake2

You can certainly try to renegotiate- it is up to them whether they are willing to drop the price and obviously if you are willing to walk away or pay the original price

Bananaleaf

Jake2 wrote: »

You can certainly try to renegotiate- it is up to them whether they are willing to drop the price and obviously if you are willing to walk away or pay the original price

With that in mind, would it be foolish to suspect that there could be something wrong with a house that went sale agreed but then appeared relisted a couple of weeks later again.

1. apologies if my terminology is wrong here - new to the game
2. I am aware that there are many reasons why a property would be relisted, but should it be something you have in the back of your mind or is it the least likely reason for a house to be relisted

Jake2

Bananaleaf wrote: »

With that in mind, would it be foolish to suspect that there could be something wrong with a house that went sale agreed but then appeared relisted a couple of weeks later again.

1. apologies if my terminology is wrong here - new to the game
2. I am aware that there are many reasons why a property would be relisted, but should it be something you have in the back of your mind or is it the least likely reason for a house to be relisted

Yes I'm sure that could be a reason among a million others of course. The buyer could of pulled out for a number of reasons . You could always ask the estate agent has a survey been done previously . I have very close relationship now with my EA as I was messed around the last time I went sale agreed and my vendor ended up pulling out. So this time I have been keeping in close contact with the vendors through the EA as I found the solicitors are a bit of a nightmare. Despite having a brilliant solicitor myself it's just hard to get info out of vendor solicitor and it's slow to come. I find the EA usually knows what's going on as they have vested interest in the sale themselves. They will certainly know the reason the sale didn't go ahead the last time. I would have asked them out right what happened .

Anyway I wouldn't be too worried about the survey but just saying my advice is to speak to the estate agent throughout the process . Don't wait around for info as the process is painfully slow as it is. Usually you wouldn't do a survey until you get the contracts have these been issued to your solicitor?

Bananaleaf

Jake2 wrote: »

Yes I'm sure that could be a reason among a million others of course. The buyer could of pulled out for a number of reasons . You could always ask the estate agent has a survey been done previously . I have very close relationship now with my EA as I was messed around the last time I went sale agreed and my vendor ended up pulling out. So this time I have been keeping in close contact with the vendors through the EA as I found the solicitors are a bit of a nightmare. Despite having a brilliant solicitor myself it's just hard to get info out of vendor solicitor and it's slow to come. I find the EA usually knows what's going on as they have vested interest in the sale themselves. They will certainly know the reason the sale didn't go ahead the last time. I would have asked them out right what happened .

Anyway I wouldn't be too worried about the survey but just saying my advice is to speak to the estate agent throughout the process . Don't wait around for info as the process is painfully slow as it is. Usually you wouldn't do a survey until you get the contracts have these been issued to your solicitor?

Oh, we're not lucky enough to be that far along the line yet - we were outbid on the first property we put an offer on. We're now looking around for something else.

Jake2

Well then maybe just ask the Estate Agent outright why is it back on the market. They might not tell you the reason Im sure they are not obliged to but you will tell by the attitude if its anything to do with the survey if you ask has a survey been done previously they either have to lie or fob you off.

I don't really trust Estate Agents but I wouldn't hesitate about asking all the questions necessary

Jake2

On another note, is it a necessity to get survey done on the house.

Like can the solicitor enforce you to do so? Or is it just advised

LirW

You'd be mad not to. You pay between 300 and 500 Euro to make sure the house you're buying doesn't have serious structural issues like subsidence. It'll also show if there are any compliance issues or fire safety issues.
When you spend hundreds of thousands for a house, that's no money to put your mind on ease.

sphinx501

Has anyone had any issues with obtaining the Land Registry maps for a new build development?

Anyone drawn down the mortgage without the Land Registry Scheme map available only for it to be provided when available?