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

mirrorwall14

We were applying for an exemption. Did the application for EBS ourselves, broker is doing all of the other providers. He can also negotiate their headline rates (according to himself anyways)

Naid23

mirrorwall14 wrote: »

We were applying for an exemption. Did the application for EBS ourselves, broker is doing all of the other providers. He can also negotiate their headline rates (according to himself anyways)

AIB has dropped their rates today but they dont deal with brokers so we are thinking about applying to them directly aswel as have the broker do the others.

SB_Part2

We are going through a broker because of issues we had with KBC. If there's anything at all not conventional about the property/your wages I think you're better off.

mollybird

can i ask does anyone know how much an indepdant convyer would cost? it's been recommened to me that we also get our own one to look at the house before we sign contracts ( when that day finally comes)

Santy2015

mollybird wrote: »

can i ask does anyone know how much an indepdant convyer would cost? it's been recommened to me that we also get our own one to look at the house before we sign contracts ( when that day finally comes)

Hi mine cost €350 and he was very good and gave a very thorough report. Don't just go for the cheapest.

mollybird

thanks for that santy. does anyone know what rate AIB have gone down to by any chance as that is one of the banks we are thinking of going with.

Sono

Azalea Screeching Padding wrote: »

That's the route I'm going down, don't get the appeal of using a middle man. I'd prefer to deal directly with the bank. Even worse if people are paying them to do something they can easily do themselves.

Once you apply to one bank you have a fair idea of what the others require, all the info needed for a mortgage application can be found on the internet I think anyway. Just recently purchased and we did it ourselves and while it was tedious at different stages I don't think a broker would have helped lighten the load, it was more frustrating the different things they wanted from us to be honest.

Santy2015

Well we've just signed contracts just waiting on the builder to sign on his side. We were able to get a clause put in that if things go pear shaped we'll get our deposit back. (Surprised they agreed to it) just need to sign letters of offer now. Bank made a mistake they sent us the letter of offer but not our solicitor. Could've got everything done today.

loveisdivine

We've hit a small roadblock. Our best chance of getting the amount of money we'd like is with Ulster Bank, however they won't accept my bank statements as proof of address because I bank with them. We're living with my mother in law at the minute and have no utilities in our name. We only have mobile phone and sky bills but our broker says they won't usually accept them either.

The other banks will be fine as they will accept my bank statements, but we probably won't get as much from them.

Bit frustrating really.The broker suggested getting my name put on the electric or internet bill but the MIL isn't being super helpful about it so not sure I'll be able to get that either

Sleepy

Could you get your name on the Irish Water Bill?

Alanstrainor

I have a question with regard to applying for a mortgage and holiday expenses. Me and the OH will hope to apply for our first mortgage in the next 6 months. We have been saving a long while and have enough for a deposit. As far as I understand it, banks will review the previous 6 months of transactions on your account as a stress test.

Would going on a holiday negatively affect our chances of mortgage approval? Even if we would be able to continue to save as normal during a reasonable holiday in terms of expense?

Utah

Alanstrainor wrote: »

I have a question with regard to applying for a mortgage and holiday expenses. Me and the OH will hope to apply for our first mortgage in the next 6 months. We have been saving a long while and have enough for a deposit. As far as I understand it, banks will review the previous 6 months of transactions on your account as a stress test.

Would going on a holiday negatively affect our chances of mortgage approval? Even if we would be able to continue to save as normal during a reasonable holiday in terms of expense?

I think as long as you're not paying for the holiday out of your savings you should be fine

Tuesday_Girl

loveisdivine wrote: »

We've hit a small roadblock. Our best chance of getting the amount of money we'd like is with Ulster Bank, however they won't accept my bank statements as proof of address because I bank with them. We're living with my mother in law at the minute and have no utilities in our name. We only have mobile phone and sky bills but our broker says they won't usually accept them either.

The other banks will be fine as they will accept my bank statements, but we probably won't get as much from them.

Bit frustrating really.The broker suggested getting my name put on the electric or internet bill but the MIL isn't being super helpful about it so not sure I'll be able to get that either

Do you have any letter from Revenue or Social welfare?

angeldelight

After two weeks of nothing and a snotty phone call from my husband yesterday estate agent came back to us to say the vendors wouldn't accept that offer but 5k more and we would go sale agreed straight away. We had a chat and decided we would go the 5k, now he's awaiting instruction from the vendor. If he starts messing us around again I'll scream

Naid23

Broker appointment booked for Monday morning. He's sent on all the paper work we need to fill in already - Getting very real now!

Alanstrainor

Utah wrote: »

I think as long as you're not paying for the holiday out of your savings you should be fine

We definitely will not be paying out of savings. We're just hoping to get some sort of break this year, and we can afford to without impacting on savings. We were just worried it would negatively impact on our application. Thanks for the response.

Utah

Alanstrainor wrote: »

We definitely will not be paying out of savings. We're just hoping to get some sort of break this year, and we can afford to without impacting on savings. We were just worried it would negatively impact on our application. Thanks for the response.

We've talked to a couple of advisors. They said the underwriters are happy to see that people can have a life without impacting their savings, it shows realism.

loveisdivine

Sleepy wrote: »

Could you get your name on the Irish Water Bill?

My mother in law has ignored every water bill she's received as she refuses to pay (:rolleyes:) So I doubt she would wan't to contact them.

No letter from the revenue or social welfare. I have an insurance policy that has my full name and address so I've sent the broker that, he say's he will try it and see.

Naid23

loveisdivine wrote: »

My mother in law has ignored every water bill she's received as she refuses to pay (:rolleyes:) So I doubt she would wan't to contact them.

No letter from the revenue or social welfare. I have an insurance policy that has my full name and address so I've sent the broker that, he say's he will try it and see.

What about your P60? Would they accept that?

loveisdivine

I gave the P60 to the broker so he already has that. I'm just gonna leave him to apply and see if Ulster Bank come looking for more proof. I know they can be strict with things but you'd think one of these things would be enough. Sure it's a joint application and they accept my husbands bank statements as proof, surely it makes sense that we live together.

hawkeye_bmr

Got the structural report today, very detailed indeed, no major issues noted, just a few minor ones.

Got quotes/paperwork done for life & home insurance, feel like the bank is putting us under pressure to go with them, how do we tell them that we are going with someone else, or should we just give them the policy once its sorted with the other party we are going with?

Still moving along quickly, but feels very slow and stressful at times!

relax carry on

loveisdivine wrote: »

My mother in law has ignored every water bill she's received as she refuses to pay (:rolleyes:) So I doubt she would wan't to contact them.

No letter from the revenue or social welfare. I have an insurance policy that has my full name and address so I've sent the broker that, he say's he will try it and see.

Just contact Revenue, ensure they have your correct address on file and ask for a P21 balancing statement for 2015 or a certificate of tax credits for 2016. That will issue to your address.

Sono

hawkeye_bmr wrote: »

Got the structural report today, very detailed indeed, no major issues noted, just a few minor ones.

Got quotes/paperwork done for life & home insurance, feel like the bank is putting us under pressure to go with them, how do we tell them that we are going with someone else, or should we just give them the policy once its sorted with the other party we are going with?

Still moving along quickly, but feels very slow and stressful at times!

Don't mind the banks, of course they are going to want all of your business they tried the same with me, I just politely told the girl we were sourcing our own policies for both and she didn't hassle us any further. These policies are worth a lot of money to them so you can see why they want to try get you on board with them

Santy2015

hawkeye_bmr wrote: »

Got the structural report today, very detailed indeed, no major issues noted, just a few minor ones.

Got quotes/paperwork done for life & home insurance, feel like the bank is putting us under pressure to go with them, how do we tell them that we are going with someone else, or should we just give them the policy once its sorted with the other party we are going with?

Still moving along quickly, but feels very slow and stressful at times!

The bank told us to get Mortgage protection somewhere else as they wouldn't be competitive but would be on home insurance, just waiting on the quote there

Bradz213

We got rejected by UB but haven't been told why. Broker thought we would certainly get it. Can't apply for other banks yet as we don't pass stress tests to borrow the amount we need for Dec-Feb even though we are usually fine. Broker going to appeal UB decision so hopefully it works out. Worse case we have to wait until Aug/Sep to reapply but likely to miss the house we wanted. We got credit checks off the irish credit bureau website and we have no missed payments and scores are in the 500's.

Monife

Can I ask a question which has just occurred to on reading the above post? I requested my credit report from the Irish Credit Bureau just to be nosey and I have no credit rating at all. I have only had two loans in my entire life, one was 8 years ago and I did default on a few payments but paid it back in full and one was with the Credit Union about 4 or 5 years ago for a small amount (€500) and was paid back in full. No credit cards.

Would this affect a mortgage application?

What's the big deal with proof of address anyway. They have savings account statements, current account statements and credit card account statements with your address why do they need more. KBC took my phone bill but said they more than likely wouldn't need it as I had my address on all the statements (which were all estatements too).

I don't get why proving your address in a few different ways is required.

Utah

Azalea Screeching Padding wrote: »

I don't get why proving your address in a few different ways is required.

Especially when the whole point of the exercise is to buy a new place and leave that old address :pac:

Utah

Utah wrote: »

Especially when the whole point of the exercise is to buy a new place and leave that old address :pac:

Exactly, sure I use my home address too for all this stuff so its not actually where I even live. I only ever address things I absolutely have to to places I rent. Everything else goes home.

angeldelight

Sale agreed!