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

goofy141

Hi All, anyone get full approval from EBS lately, just wondering how long the process took?

The_Sally_Gap

I think it depends on the bank. We went to a few and PTSB just gave us AIP without it having been assessed by an underwriter. It was the same with AIB. EBS fully assessed our application at AIP stage so when we were going to get our official loan offer we only had to provide the valuation and whatever other documents they had put as a condition of the loan.

goofy141

The_Sally_Gap wrote: »

I think it depends on the bank. We went to a few and PTSB just gave us AIP without it having been assessed by an underwriter. It was the same with AIB. EBS fully assessed our application at AIP stage so when we were going to get our official loan offer we only had to provide the valuation and whatever other documents they had put as a condition of the loan.

How long did EBS take for full assessment?

The_Sally_Gap

goofy141 wrote: »

How long did EBS take for full assessment?

We submitted ours back in April and it took about 5 working days to get AIP and then when we went for full loan offer in September it took about the same amount of time. We were told that they weren’t particularly busy then but after Christmas and into the new year would be busy so I wouldn’t worry if you have been waiting for a few days.

goofy141

The_Sally_Gap wrote: »

We submitted ours back in April and it took about 5 working days to get AIP and then when we went for full loan offer in September it took about the same amount of time. We were told that they weren’t particularly busy then but after Christmas and into the new year would be busy so I wouldn’t worry if you have been waiting for a few days.

Thanks just putting forms in this week going straight for full approval and not AIP! Went sale agreed today

The_Sally_Gap

goofy141 wrote: »

Thanks just putting forms in this week going straight for full approval and not AIP! Went sale agreed today

Exciting times ahead! Good luck with it

dev_ire

Is there anyway to find out if houses are council owned?

myshirt

dev_ire wrote: »

Is there anyway to find out if houses are council owned?

Yes, go t landdirect.ie and view by map.

dev_ire

myshirt wrote: »

Yes, go t landdirect.ie and view by map.

Ok, would it say on the property if it is council? Can't see much except it is freehold or do you need to pay to check?

Michellenman

dev_ire wrote: »

Ok, would it say on the property if it is council? Can't see much except it is freehold or do you need to pay to check?

I think freehold means someone has bought the council out of the leasehold at some point. That's not to say that leasehold are still council owned though, we bought an ex council house and it's still on a leasehold. We have option of buying lease out though.

LirW

I'm living in an ex-council house that's a freehold.
In front of the houses here is a big patch of land that was bought from the council (is a freehold too) but the individual land units of the houses that still are in council ownership are attached to the big patch of land on land registry.

ELM327

Contracts signed this morning...estimated closing date is 8th march
Wohooo

b.o.d.

What income do they take into account ?
My salary would not be enough but I get child maintenance and child benefit , are they considered ?

purpleisafruit

b.o.d. wrote: »

What income do they take into account ?
My salary would not be enough but I get child maintenance and child benefit , are they considered ?

They don't take child benefit into account in most places. No idea about maintenance.

tusk

Common sentiment is that rates are due to begin rising. We're about to go forward with a mortgage from either ptsb or aib. I'm leaning towards aib fixed for 7 years, which is currently 3.5% versus ptsb for 5 year fixed at 3.4%.

Any thoughts from the more seasoned minds here?

Toyotafanboi

Following on from my yarn here: https://www.boards.ie/vbulletin/showpost.php?p=105974518&postcount=4996

Probably 5-6 weeks of total silence after making our offer, called the EA a few times, no update.

Got an email from the EA last night to tell us two other people had been bidding on the property and he forgot to contact us :rolleyes: and in addition the owners want this whole charade finished by close of business today so if we are still interested we need to submit our "final offer" by private bid today and the best one wins.

Pretty disheartened by this tbh. Maybe it's normal, part and parcel of the process but it's seems inherently unfair somehow?

Cuddlesworth

Toyotafanboi wrote: »

Pretty disheartened by this tbh. Maybe it's normal, part and parcel of the process but it's seems inherently unfair somehow?

Depends on how you view it, its a pretty common sales tactic to tell somebody they have a limited deadline to make a decision. Usually forces them into making a rash decision for more money. Or hes a plonker who has been ignoring a bunch of bids and the seller is pissed off.

ELM327

tusk wrote: »

Common sentiment is that rates are due to begin rising. We're about to go forward with a mortgage from either ptsb or aib. I'm leaning towards aib fixed for 7 years, which is currently 3.5% versus ptsb for 5 year fixed at 3.4%.

Any thoughts from the more seasoned minds here?

BOI offering 3% fixed with 2% cashback. Was the best offer out there for me.

tusk

Interesting. That's for the 5 year yeah?

Don't know if I could handle going through the process again with another bank tbh.

Toyotafanboi

Cuddlesworth wrote: »

Depends on how you view it, its a pretty common sales tactic to tell somebody they have a limited deadline to make a decision. Usually forces them into making a rash decision for more money. Or hes a plonker who has been ignoring a bunch of bids and the seller is pissed off.

This is it.

I did have an inkling that the EA never actually put our offer forward. We have no issue bringing it to a head but blind bidding against someone else is a bit daunting.

theboringfox

tusk wrote: »

Common sentiment is that rates are due to begin rising. We're about to go forward with a mortgage from either ptsb or aib. I'm leaning towards aib fixed for 7 years, which is currently 3.5% versus ptsb for 5 year fixed at 3.4%.

Any thoughts from the more seasoned minds here?

Am looking at 7 year fix at 3.39% with UB. Looking at switch to BoI for 10 year fix at 3.3% and 2% cash back. But there's a few factors making it awkward both in terms of switch and looking at top up for some work on house.

I know rates will rise in ecb but increased competition in RoI might also bring down bank margins and lead to net lower rates. But overall I'm never going to call market perfectly and sleep easier fixing mortgage.

dev_ire

BOI allow 10% overpay each month in a fixed rate so that is a nice perk.

Interested Observer

ELM327 wrote: »

BOI offering 3% fixed with 2% cashback. Was the best offer out there for me.

This is what I will be going with for 5 years fixed initially, didn't see any other offer that matched this at all.

ELM327

Same, except I am fixing for 3 years. Intend to move on at that point.

Bargain_Hound

BOI 5 Year LTV 81%-90% @ 3% with 2% cashback seems the best deal at the moment. That's what I am fixing to.

Had a few approvals but was banking on BOI's approval coming through, which it did. fixing @ 3% vs 3.4+% is a nice saving over 5 years.

Interested Observer

Bargain_Hound wrote: »

BOI 5 Year LTV 81%-90% @ 3% with 2% cashback seems the best deal at the moment. That's what I am fixing to.

Had a few approvals but was banking on BOI's approval coming through, which it did. fixing @ 3% vs 3.4+% is a nice saving over 5 years.

On a €300k mortgage over 30 years, I make it to be a saving of about €4000 over the 5 years. Which is a lot of money!

izzyflusky

ELM327 wrote: »

Contracts signed this morning...estimated closing date is 8th march
Wohooo

How long did the whole process take from sale agreed?




We are fixing it 10 years with KBC for peace of mind. I can see it is not the best deal atm (3.5%) but same as another poster, can't face going through the process again and I'm happy with the repayments and the overpay option of 10% within that period.

Interested Observer

izzyflusky wrote: »

How long did the whole process take from sale agreed?




We are fixing it 10 years with KBC for peace of mind. I can see it is not the best deal atm (3.5%) but same as another poster, can't face going through the process again and I'm happy with the repayments and the overpay option of 10% within that period.

The 10 year rate will always be a bit higher but the peace of mind can certainly be worth it. And by the end of the term you might be saving money compared to everyone else anyway.

Just FYI, Bank of Ireland also do 3.5% for 10 years but also give 2% cashback which KBC don't for new customers (to the best of my knowledge).

autumnbelle

What do the banks look for in bank statements?

goofy141

Can I ask what fees people are paying for solicitors fees? Also does anyone have a recommendation for someone to carry out a structural survey?

Thanks,