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

tusk

skywayavenue wrote: »

Think the exemption figure has increased to 3850 in the last month or so. So we were told anyway

Can confirm.

We were in the process of application and this changed midway through. We pestered them and they stuck to the original value they offered though, based on the initial exemption figure.

keane2097

LoonyLovegood wrote: »

I'm starting the mortgage saving process now, and I'm honestly terrified of it. I've got an appointment in the bank to start working out what I should be saving, but does anyone have any advice on starting out? I'm on a 30k salary with decent prospects for upward growth, and I know I'm going to be saving for at least two years, probably three. I'm also in my mid 20s, so shouldn't have an issue with a 30/35 year mortgage. Any suggestions or what you'd do differently if you were starting out again would be much appreciated!

There's really nothing to be particularly scared of. The bank deal with hundreds of applications every day, the process will be very well organised and routine.

D3V!L

Myself and my wife will be in the position (hopefully) to purchase within the next three months. We're just putting through an application for the Help to buy scheme but I'm finding it hard to get a straight answer from the revenue about how it works.

I realize the scheme is there to help you with your deposit and so far its given us a quote of an amount that would get us a long the way to having the full amount of the deposit. Can anyone answer me or direct me to some definitive answers about when the refund is issued ?

skywayavenue

tusk wrote: »

Can confirm.

We were in the process of application and this changed midway through. We pestered them and they stuck to the original value they offered though, based on the initial exemption figure.

We tried to but they were having none of it!

MrStuffins

D3V!L wrote: »

Myself and my wife will be in the position (hopefully) to purchase within the next three months. We're just putting through an application for the Help to buy scheme but I'm finding it hard to get a straight answer from the revenue about how it works.

I realize the scheme is there to help you with your deposit and so far its given us a quote of an amount that would get us a long the way to having the full amount of the deposit. Can anyone answer me or direct me to some definitive answers about when the refund is issued ?

It's not a refund. They give you an application number, you give that to the developer and Revenue issue them the funds.

That's how it's working for us anyway

D3V!L

MrStuffins wrote: »

It's not a refund. They give you an application number, you give that to the developer and Revenue issue them the funds.

That's how it's working for us anyway

Thats what the revenue told me today but fell down at the first hurdle when I told him its a second hand home we're looking at.

Mantis Toboggan

D3V!L wrote: »

Thats what the revenue told me today but fell down at the first hurdle when I told him its a second hand home we're looking at.

Help to buy only applies to new build houses.

D3V!L

Tyson Fury wrote: »

Help to buy only applies to new build houses.

Thanks, now why the f*ck couldn't the revenue tell me that

Pelvis

D3V!L wrote: »

Thanks, now why the f*ck couldn't the revenue tell me that

They do.

https://www.revenue.ie/en/property/help-to-buy-incentive/what-type-of-property-qualifies.aspx

D3V!L

Pelvis wrote: »

They do.

https://www.revenue.ie/en/property/help-to-buy-incentive/what-type-of-property-qualifies.aspx

Yes, thanks for the link. I was referring to when I called them earlier.

chrismon

Hector Savage wrote: »

I just heard on the radio about AIB wanting social media details for mortgage applicants ?
And it seems mandatory - what happens if you don't use social media ?

Seems to be true alright, tell them you don't use it, that's what I'll be doing, rarely use it, might even deactivate FB.

https://www.thesun.ie/news/2570402/aib-accused-of-spying-on-users-social-media-accounts-playing-big-brother-to-learn-more-about-customer-habits/

bri007

Can’t believe this is being allowed, outrageous to say the least. What has peoples behaviour on social media got to do with paying back a mortgage, and what do AIB deem acceptable and unacceptable in their view!

Your right in saying deactivate Facebook, I have a Facebook account and rarely use it, we are in the process of applying for a mortgage but I think it’s very unfair to ask people to provide this details for a mortgage!

chrismon wrote: »

Seems to be true alright, tell them you don't use it, that's what I'll be doing, rarely use it, might even deactivate FB.

https://www.thesun.ie/news/2570402/aib-accused-of-spying-on-users-social-media-accounts-playing-big-brother-to-learn-more-about-customer-habits/

badtoro

We're just starting ringing banks for mortgage appointments. Suffice to say AIB social media story caught my attention this morning. Having discussed it with my partner we've agreed we'll go to the appointment with AIB but if asked for social media access we'll refuse and try other banks.

I've also emailed my constituency TD's (or at least those with a history of replying) to object as I've heard AIB is 70%+ state owned. So far one prominent national TD has replied in full agreement.

fungie

skywayavenue wrote: »

Think the exemption figure has increased to 3850 in the last month or so. So we were told anyway

Is this gross or net income?

D3V!L

fungie wrote: »

Is this gross or net income?

Also is that a household income ?

Mickiemcfist

bri007 wrote: »

Can’t believe this is being allowed, outrageous to say the least. What has peoples behaviour on social media got to do with paying back a mortgage, and what do AIB deem acceptable and unacceptable in their view!

Your right in saying deactivate Facebook, I have a Facebook account and rarely use it, we are in the process of applying for a mortgage but I think it’s very unfair to ask people to provide this details for a mortgage!

To be fair I think it's a good thing if used correctly. They're apparently monitoring for people who would "like" those groups which block house repossessions etc. Those people are part of the reason our mortgage interest rates are so high, so feck 'em.

OwlsZat

Mickiemcfist wrote: »

To be fair I think it's a good thing if used correctly. They're apparently monitoring for people who would "like" those groups which block house repossessions etc. Those people are part of the reason our mortgage interest rates are so high, so feck 'em.

Briar Hill is a very modest house I'll have you know ðŸ˜

purpleisafruit

fungie wrote: »

Is this gross or net income?

That will be net income, after a stress test on the mortgage amount also

D3V!L wrote: »

Also is that a household income ?

Includes income of 2 people if a joint application

hots

bri007 wrote: »

Can’t believe this is being allowed, outrageous to say the least. What has peoples behaviour on social media got to do with paying back a mortgage, and what do AIB deem acceptable and unacceptable in their view!

Your right in saying deactivate Facebook, I have a Facebook account and rarely use it, we are in the process of applying for a mortgage but I think it’s very unfair to ask people to provide this details for a mortgage!

I don't think you provide details at all right? They're looking you up? Same as if you apply for a job, it's fair to expect them to google you and learn what they can about you. If you have a bit of cop on and set everything to private you're grand.

ILikeBoats

Exactly.
Make everything private - no worries.

DubJJ

Too many people think they can post what they want on social media nowadays without any consequences, once somethings online it's there forever.
Setting everything private is a start but there is always the possibility that somebody else may repost you're tweets etc., the truth is if you want to keep anything private then don't post it in the first place.

arleitiss

Okay so probably absolutely idiotic idea but:

What stops one from getting 20k loan for 10 years (like 180 eur per month or so) from Credit Union and using that as a deposit for mortgage?

Surely either you pay 800 or 1000 per month isn't such a big difference?

AlmightyCushion

arleitiss wrote: »

Okay so probably absolutely idiotic idea but:

What stops one from getting 20k loan for 10 years (like 180 eur per month or so) from Credit Union and using that as a deposit for mortgage?

Surely either you pay 800 or 1000 per month isn't such a big difference?

Most loans go up to only 5 years which would more than double the monthly repayments. 10 year loans are usually just home improvement loans. Would they give someone who doesn't have a home, a home improvement loan?

And, yes it is a pretty stupid idea.

Cuddlesworth

arleitiss wrote: »

Okay so probably absolutely idiotic idea but:

What stops one from getting 20k loan for 10 years (like 180 eur per month or so) from Credit Union and using that as a deposit for mortgage?

Surely either you pay 800 or 1000 per month isn't such a big difference?

Because they ask you where the 20k came from and lying about it is fraud.

shamrock55

I already have a mortgage but if I wanted to buy a property to do up and sell would I need a buy to let mortgage or would I need 20% deposited as a second time buyer

aloooof

Found a lot of older posts when searching, so in the interests of getting something more recent, could anyone recommend a surveyor?

Also, our solicitor advised we may find it useful to be present while the survey is being carried out, are they generally amenable to this?

Cuddlesworth

aloooof wrote: »

Found a lot of older posts when searching, so in the interests of getting something more recent, could anyone recommend a surveyor?

Also, our solicitor advised we may find it useful to be present while the survey is being carried out, are they generally amenable to this?

A good surveyor wouldn't want you there.

DubJJ

Why not?

Cuddlesworth

Name me one profession that likes the client looking over their shoulder while they work.

Geuze

Hector Savage wrote: »

I just heard on the radio about AIB wanting social media details for mortgage applicants ?
And it seems mandatory - what happens if you don't use social media ?

I was in an AIB branch twice in the last month, looking for a mortgage.

Social media was never mentioned.