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

Michael D Not Higgins

Repayment capacity will be different for each bank, they will estimate 200-300 per month less for each child though.

Staph

Congrats whiskeyman! Wishing you even more luck in house hunting!
I got my keys yesterday evening. Wont be moving on for a bit, as we have to buy appliances and furniture.

Utah

Congrats whiskeyman.

We are pregnant. We didn't tell them anything and paid for everything in cash just in case. Should be in the house before the baba is born so will hopefully get away with it!

whiskeyman

Michael D Not Higgins wrote: »

Repayment capacity will be different for each bank, they will estimate 200-300 per month less for each child though.

I would have expected a lot worse due to potential childcare costs on top of everything else?

Should be ok if that's the case.

thanks for your input!

matrim

Finally got a closing date for later this month. We will have been 5 months from the first bid and about 7 from the first time we called to ask about a viewing because it took about 2 months to arrange it.

Tasden

whiskeyman wrote: »

Folks,

Just found out some great news that we're expecting our first child

Congratulations

mirrorwall14

Congrats whiskey man and mitrem.

We sign this Friday

Michael D Not Higgins

whiskeyman wrote: »

I would have expected a lot worse due to potential childcare costs on top of everything else?

Should be ok if that's the case.

thanks for your input!

That's the minimum, expect them to look at the circumstances differently depending on the situation.

I'm not sure how they look at expectant parents, but I'd say usually they will not consider a child in the calculations until they are born.

Siipina

congratulations Whiskeyman, that's great news.

offer to loan letter arrived, appointment for insurance tomorrow and still nothing about a contract or even title documents. Meanwhile, the house we are renting is slowly but surely falling apart as LL isn't repairing anything. Send us a plumber for heating and shower and all sorts of stuff. Never heard of him again. Just hope we can move before the cold weather hits.

SB_Part2

mirrorwall14 wrote: »

Congrats whiskey man and mitrem.

We sign this Friday

We're all rooting for you mirrorwall:)

apeking

Just gone sale agreed on a property. wondering do you guys wait until you have the survey completed before you contact the bank requesting offer letter?

Anyone know how long Ulster Bank take to issue offer letter?

intheclouds

apeking wrote: »

Just gone sale agreed on a property. wondering do you guys wait until you have the survey completed before you contact the bank requesting offer letter?

Anyone know how long Ulster Bank take to issue offer letter?

We simultaneously contacted the bank and organised the survey.

Now it looks like survey results and letter of offer will be happening around the same time.

Got verbal survey results and seems ok.

zedhead

apeking wrote: »

Just gone sale agreed on a property. wondering do you guys wait until you have the survey completed before you contact the bank requesting offer letter?

Anyone know how long Ulster Bank take to issue offer letter?

We are going through a broker and he said its best to have the survey done first. As you will have to pay for a valuation for the bank and no point paying that if the survey shows up anything that makes you reconsider.

ATMatm

Hi guys, quick question here. We are looking to add myself to the mortgage and take out an extra sum for an extension.

What kind of red flags should I be wary of for me to be added on?

mirrorwall14

Awh thanks! We are getting so close I can actually feel like planning the move now. We were working it out and part from the saga of getting the damn mortgage in the first place if we do actually manage to exchange keys on the planned date we will have been just over 7 weeks sale agreed which even though it has felt like forever appears to actually be good going!

On a separate note we are a little better off than we imagined we would be and I was considering picking up the pigsback deal for a 3 bed house clean for the rental we are moving out of. It's to be used by December so worst case scenario we use it ourselves if this falls through. Anyone got any experience of using this type of service? I know we'd be throwing an eye over it ourselves but it would be nice to not spend a full day going room by room on it for cleaning!

mirrorwall14

apeking wrote: »

Just gone sale agreed on a property. wondering do you guys wait until you have the survey completed before you contact the bank requesting offer letter?

Anyone know how long Ulster Bank take to issue offer letter?

We got verbal survey results and immediately booked the bank valuation

guile4582

is there any assistance for a single person trying to get a mortgage??

lets say i have 40k saved, i still am not within an asses roar of getting a mortgage big enough based on my wages x 3.5

cnlbel

Has anyone bought in Dublin in the last 12 months and not paid well over the asking price?? feeling very deflated looking at how quickly the bids go over the asking.

Naid23

cnlbel wrote: »

Has anyone bought in Dublin in the last 12 months and not paid well over the asking price?? feeling very deflated looking at how quickly the bids go over the asking.

Estate agents seem to deliberately put the asking price lower then what they actually willing to accept for the property. Its soul destroying going to view a house thats save - 270k and suddenly its closer to 300k after bidding. Have experience this a few times so far this year.

Will be very surprised if we would be even sale agreed by christmas at this stage.

cnlbel

we've only been at this for 6 weeks and i already want to give up. Cant trust anything an EA says at all and the crowds of people at viewings is just shocking.

yellowballon

Hi All,

Long time follower of this post, thank you all for your knowledge and sharing your experience.
Currently sale agreed, waiting for contracts and loan offer to be issued.

Excited to finally get involved in posting here.

whiskeyman

cnlbel wrote: »

Has anyone bought in Dublin in the last 12 months and not paid well over the asking price?? feeling very deflated looking at how quickly the bids go over the asking.

Naid23 wrote: »

Estate agents seem to deliberately put the asking price lower then what they actually willing to accept for the property. Its soul destroying going to view a house thats save - 270k and suddenly its closer to 300k after bidding. Have experience this a few times so far this year.

I'm in the same boat.
I've come to simply ignore the asking price in recent cases and go on previous sales (check property register site) and general upkeep and other features of the house.
Even at that, for 'good' houses, there's a considerable % increase on that again.

Caliden

Naid23 wrote: »

Estate agents seem to deliberately put the asking price lower then what they actually willing to accept for the property. Its soul destroying going to view a house thats save - 270k and suddenly its closer to 300k after bidding. Have experience this a few times so far this year.

Will be very surprised if we would be even sale agreed by christmas at this stage.

Worst I saw recently was a property for sale for 425k, in a good area and 120m2.

Called the EA to arrange a viewing and was told the current bid was 575k...

SB_Part2

cnlbel wrote: »

Has anyone bought in Dublin in the last 12 months and not paid well over the asking price?? feeling very deflated looking at how quickly the bids go over the asking.

Yeh. But I lucky that the house didn't go on daft/myhome.ie. The owner wanted a quick sale and didn't want a bidding war.

Naid23

Caliden wrote: »

Worst I saw recently was a property for sale for 425k, in a good area and 120m2.

Called the EA to arrange a viewing and was told the current bid was 575k...

OMG thats shocking!

whiskeyman

Caliden wrote: »

Worst I saw recently was a property for sale for 425k, in a good area and 120m2.

Called the EA to arrange a viewing and was told the current bid was 575k...

Jeebus!
Where was it though?
What were the sales like nearby?

cnlbel

Caliden wrote: »

Worst I saw recently was a property for sale for 425k, in a good area and 120m2.

Called the EA to arrange a viewing and was told the current bid was 575k...

good lord!!! that is just scary. I was really hoping to at least be sale agreed on something by xmas but that just seems so unlikely. the idea of having to reapply does not make me happy. o/h is self employed so its a bit harder.

Its hard to stay looking.

Naid23

cnlbel wrote: »

good lord!!! that is just scary. I was really hoping to at least be sale agreed on something by xmas but that just seems so unlikely. the idea of having to reapply does not make me happy. o/h is self employed so its a bit harder.

Its hard to stay looking.

Same actually, our approval runs out the first week of January. Thoughts of reapplying is painful.

guile4582

Naid23 wrote: »

OMG thats shocking!

how do people afford these prices?

Michael D Not Higgins

guile4582 wrote: »

how do people afford these prices?

Trading up.