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

ELM327

autumnbelle wrote: »

What do the banks look for in bank statements?

Everything!
Just be ready to explain any lodgements, withdrawals and transfers.
You need documents for everything (shares sale etc)

goofy141 wrote: »

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,

Mine was 1250+vat

goofy141

sorry I should have said for buying and selling!

bored_newbie

I know this is probably a question with an obvious answer but I've noticed more houses on daft that say
"This property is open for viewing on <date:time>"
and there is a hyperlink saying "reserve" which just lets you email the Estate Agent.

Does this mean there is an open viewing at that time, ot is it best to go ahead and email the EA, rather than just show up at the stated time? Also, are these houses for auction or just for normal sale throu the EA?

stargazer 68

We have contacted the agent to 'book and we have just shown up too. Makes no odds really

Interested Observer

bored_newbie wrote: »

I know this is probably a question with an obvious answer but I've noticed more houses on daft that say
"This property is open for viewing on <date:time>"
and there is a hyperlink saying "reserve" which just lets you email the Estate Agent.

Does this mean there is an open viewing at that time, ot is it best to go ahead and email the EA, rather than just show up at the stated time? Also, are these houses for auction or just for normal sale throu the EA?

I normally call the EA just to get a bit of info before the viewing but generally you can just show up, and unless specified I would assume they houses are not for auction.

izzyflusky

I just usually show up. They ask for your details at the door and that's it.

Losty Dublin

Toyotafanboi wrote: »

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?

Per chance, was it in Drogheda?

Kamili

Toyotafanboi wrote: »

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?

Somehow seems like the seller is also P/O'd with the EA, I bet they are sick of trying to contact him too and told him sell today or we take our business elsewhere.

autumnbelle

Has anyone had any experience applying for a mortgage with outstanding loans (All repayments made on time)

goofy141

autumnbelle wrote: »

Has anyone had any experience applying for a mortgage with outstanding loans (All repayments made on time)

It shouldnt be a problem, if you have sufficient money left at the end of the month.

Interested Observer

autumnbelle wrote: »

Has anyone had any experience applying for a mortgage with outstanding loans (All repayments made on time)

Along with my partner I have AIP with two outstanding loans. Now something could change when we go to draw down, as that's very different from AIP, but our mortgage manager in the bank seems entirely unconcerned by them. As long as you can show your capacity to repay everything it should be fine.

goofy141

Hi All, when do I pay the estate agent and the solicitor? Many thanks

autumnbelle

goofy141 wrote: »

Hi All, when do I pay the estate agent and the solicitor? Many thanks

I think solictor is after you have drawn down mortgage and signed contracts

Cuddlesworth

goofy141 wrote: »

Hi All, when do I pay the estate agent and the solicitor? Many thanks

For Seller,

Solicitor is after sale(they take it off the final sale price)
Estate agent is after sale(they take it off the deposit, which they retain from Sale Agreed)

For the buyer,
Solicitor is after or at the very end of the sale(Mortgage draw down/Moving in).

JDD

Hi guys

I know this has been asked before I just can't find the answer to it! Do you think our bank (BOI) would be willing to allow just my husbands name to go on the title deeds where there would be both our names on the mortgage deeds? My husband is a first time buyer whereas I'm a second time buyer. I believe for the purposes of Revenue and the Help to Buy scheme they will only look at the name of the person on the title deeds? My mortgage advisor seems to think that even where only my husbands name is on the title deeds he would be considered a second time buyer solely on the fact that he is married to a second time buyer.

I understand the implications of not having my name on the title deeds. There's ways around that to protect my legal interest in the property.

Sarn

There’s no way around your husband losing his first time buyers status for a mortgage given that you are a second time buyer and will have an interest in the property. The help to buy scheme is different in how revenue determines FTB status.

JDD

Thanks Sam.

I actually ended up looking at the Taxes Consolidation Act and it says in order to qualify for the HTB you must submit evidence of a "qualifying loan". For the mortgage to be a qualifying loan it would have to be solely between my husband and the lender, which it clearly isn't. Ah well. It was worth a try.

izzyflusky

Just wanted to share that I had gone sale agreed about a month ago (I posted it here at the time). It was the second time the property went sale agreed and I understand that the vendors where anxious to move on. However, they kept pressuring me through the EA on matters that were out of my hands and being unpleasant about the whole thing (I wanted a quick sale too!).

The latest was refusing to arrange another viewing unless I gave them a final date for signing the contracts (we were only 2 and half weeks into the process). So in the end another house that we liked (new build) became available so we pulled out of the first sale. They obviously didnt see that coming considering the way the market is atm. They came back asking us if we would reconsider if they arranged that viewing asap but we declined.

As if the process weren't stressfull enough! I think it's safe to say that nobody buying or selling wants to drag on the process for months on end. I just want it over at this stage!

emc87

I have put a booking deposit on a new build house and applied to a few banks to get a full mortgage offer. PTSB have come back with an AIP, and said that they will not issue a full mortgage offer until a valuation (at a cost of €150) is completed.

We need a full mortgage offer in place before we can sign the contracts for the house, which are due for signing in the next week or two. The house isn't complete yet, so not sure how they could complete a valuation. Has anyone else gone through this process?

GingerLily

emc87 wrote: »

I have put a booking deposit on a new build house and applied to a few banks to get a full mortgage offer. PTSB have come back with an AIP, and said that they will not issue a full mortgage offer until a valuation (at a cost of €150) is completed.

We need a full mortgage offer in place before we can sign the contracts for the house, which are due for signing in the next week or two. The house isn't complete yet, so not sure how they could complete a valuation. Has anyone else gone through this process?

They will do an initial valuation so you can get your loan pack, and then before drawdown there will be a second evaluation when the build is complete.

The second valuation is 60e.

emc87

GingerLily wrote: »

They will do an initial valuation so you can get your loan pack, and then before drawdown there will be a second evaluation when the build is complete.

The second valuation is 60e.

Thanks GingerLily!

Cows Go µ

izzyflusky wrote: »

Just wanted to share that I had gone sale agreed about a month ago (I posted it here at the time). It was the second time the property went sale agreed and I understand that the vendors where anxious to move on. However, they kept pressuring me through the EA on matters that were out of my hands and being unpleasant about the whole thing (I wanted a quick sale too!).

The latest was refusing to arrange another viewing unless I gave them a final date for signing the contracts (we were only 2 and half weeks into the process). So in the end another house that we liked (new build) became available so we pulled out of the first sale. They obviously didnt see that coming considering the way the market is atm. They came back asking us if we would reconsider if they arranged that viewing asap but we declined.

As if the process weren't stressfull enough! I think it's safe to say that nobody buying or selling wants to drag on the process for months on end. I just want it over at this stage!

I'm the opposite, went sale agreed on 19/01 paid the booking deposit same day and my solicitor is yet to receive anything from the seller's solicitor. My mum is a legal secretary so she is able to keep me updated. Apparently the other solicitor is really particular so she likes to have everything perfect before she sends the contracts but I just really want to have something from them.

I have everything for the mortgage sorted already. Just need the house insurance but I need to find out details from the seller before I can get quotes for that. It's so frustrating.

I'm terrified they are going to pull out.

Cuddlesworth

Cows Go µ wrote: »

I'm the opposite, went sale agreed on 19/01 paid the booking deposit same day and my solicitor is yet to receive anything from the seller's solicitor. My mum is a legal secretary so she is able to keep me updated. Apparently the other solicitor is really particular so she likes to have everything perfect before she sends the contracts but I just really want to have something from them.

I have everything for the mortgage sorted already. Just need the house insurance but I need to find out details from the seller before I can get quotes for that. It's so frustrating.

I'm terrified they are going to pull out.

Put a offer on the table in June, bid accepted in late July, sale agreed mid August, house sold in late December. Don't bid on a house your not prepared to lose, it will just end up in a stressful panic buy.

Cows Go µ

Cuddlesworth wrote: »

Put a offer on the table in June, bid accepted in late July, sale agreed mid August, house sold in late December. Don't bid on a house your not prepared to lose, it will just end up in a stressful panic buy.

I just heard back that the solicitor handling the sale is actually in the middle of leaving so one of the others is going to look into it. He said he would get back to my solicitor tomorrow.

I'm buying by myself on a relatively small salary so my options are very limited and since the new government scheme came out, all of the houses in my price bracket have completely disappeared. However this house has everything I wanted and is much better than I was ever expecting to get. I know I shouldn't get so emotionally involved but it's hard not too.

Plus, I'm living with my parents (and their 7 dogs and my 2 dogs) while saving up for the house and with every day that goes past, the higher the probability that I will snap and kill all of them

Cuddlesworth

Cows Go µ wrote: »

the higher the probability that I will snap and kill all of them

Then you get a free house.

izzyflusky

Cows Go µ wrote: »

Plus, I'm living with my parents (and their 7 dogs and my 2 dogs) while saving up for the house and with every day that goes past, the higher the probability that I will snap and kill all of them

I know how you feel. Moved the family to my mother's so we could pay lower rent but we need our own space! A year turned into two... So June/July cannot come quick enough!

Cows Go µ

Cuddlesworth wrote: »

Then you get a free house.

I wouldn't want this house! It's in a housing estate so I live in fear of the dogs barking. The house I'm buying is in the middle of nowhere so I can train the dogs and they can bark to their hearts' content. Though I suppose I could sell this house to pay for a new one

izzyflusky wrote: »

I know how you feel. Moved the family to my mother's so we could pay lower rent but we need our own space! A year turned into two... So June/July cannot come quick enough!

I'm just coming up to the two year mark. I think the fact that I can see an end in sight is just making it so much worse! I've had the deposit saved since last July and I've been looking and bidding since. On the bright side I have double the amount I need for the deposit so I will actually be able to afford little things like furniture when I actually get the house.

purpleisafruit

emc87 wrote: »

I have put a booking deposit on a new build house and applied to a few banks to get a full mortgage offer. PTSB have come back with an AIP, and said that they will not issue a full mortgage offer until a valuation (at a cost of €150) is completed.

We need a full mortgage offer in place before we can sign the contracts for the house, which are due for signing in the next week or two. The house isn't complete yet, so not sure how they could complete a valuation. Has anyone else gone through this process?

I'm also buying a new build and my solicitor had a clause put into contract that says we wouldn't have to complete if the bank didn't give us the mortgage which the sellers agreed to. If the house is under construction and not going to be finished for several months, I'm fairly sure the builders will have seen this before.

ad1234

purpleisafruit wrote: »

I'm also buying a new build and my solicitor had a clause put into contract that says we wouldn't have to complete if the bank didn't give us the mortgage which the sellers agreed to. If the house is under construction and not going to be finished for several months, I'm fairly sure the builders will have seen this before.

We had this too. House not due until late summer. Solicitor put in a funding clause so deposits are safe. Any mortgage offer would have run out by that stage anyway for us. Our solicitor asks for this in most of his contracts apparently since the crash aa he saw a lot of clients loose jobs then no mortgages so deposits were lost. He made a good point on it, if we lost a job we would not be able to proceed and loose money. It's a great clause to have.

purpleisafruit

ad1234 wrote: »

We had this too. House not due until late summer. Solicitor put in a funding clause so deposits are safe. Any mortgage offer would have run out by that stage anyway for us. Our solicitor asks for this in most of his contracts apparently since the crash aa he saw a lot of clients loose jobs then no mortgages so deposits were lost. He made a good point on it, if we lost a job we would not be able to proceed and loose money. It's a great clause to have.

Yeah, I'm the last house in the estate so not due to finish until November. Most banks full mortgage offer is only valid for 6 months and a lot can happen in that time