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

mirrorwall14

Congrats Utah!

We signed last Friday. Still no word that they have signed. We're supposed to be getting keys next Friday (they put that date in the contract) and we need to give notice to our landlord. I'm like SIGN ALREADY!!! it's costing us money in rent waiting for them to get their ass into the solicitors and sign the bloody papers already

Tasden

Utah wrote: »

We signed. Am I a homeowner? Or do I need to wait for the keys to call myself that?!

We also went for a look around the house. Still a good bit to be done. All our plumbing and electrical changes were done though so happy with that. Also, we picked our kitchen and got it nicely customised so we were delighted to be allowed to do that!

Very productive day!

How exciting
It must be lovely to put your own stamp on the house and make it "home". Very jealous, enjoy it all!

Utah

Tasden wrote: »

How exciting
It must be lovely to put your own stamp on the house and make it "home". Very jealous, enjoy it all!

Yeah there is a good few options for the kitchen and the tiles are just on a budget so we can pick whatever we want, if we go over budget we just pay the difference.

We know a few people who have bought in the same development so will be interesting to see what they went with!

HouseHeating

How long does it take usually from going sale agreed/paying deposit to getting to sign contracts??!

Rackstar

HouseHeating wrote: »

How long does it take usually from going sale agreed/paying deposit to getting to sign contracts??!

How long is a piece of string?

Is the seller in a chain? Will they drag out the process?

Are you a cash buyer or will you be getting a mortgage?

Is your solicitor reliable? After all due diligence will they push for completion? Same goes for the vendors solicitor.

Has a survey been carried out on the property?

It's very hard to say how long the process will take due to the number of factors involved.

HouseHeating

Rackstar wrote: »

How long is a piece of string?

Is the seller in a chain? Will they drag out the process?

Are you a cash buyer or will you be getting a mortgage?

Is your solicitor reliable? After all due diligence will they push for completion? Same goes for the vendors solicitor.

Has a survey been carried out on the property?

It's very hard to say how long the process will take due to the number of factors involved.

Its a bank sale! They've accepted our offer!
Getting a mortgage! Have solicitor and our survey sorted!

Rackstar

HouseHeating wrote: »

Its a bank sale! They've accepted our offer!
Getting a mortgage! Have solicitor and our survey sorted!

Bank sales can be worse. Months of hearing nothing. Sounds promising if the have accepted quickly though.

MissElle

Been following this thread with great interest over the last 12 months, delighted to be able to finally join in! Loads of great advice on it Recently mortgage approved in principle and put a deposit on a new build in North County Dublin after 18 months of saving every cent we could towards a deposit.

Quick question re solicitors fees, we had earmarked 5k taking into consideration stamp duty of 1% etc but have gotten 2 different quotes nearer the 6k mark.....is this normal or should we shop around a bit more?? FTB so fairly clueless about these kinda things!

GeorgeOrwell

Legal fees should be c. €2,000 for a straight-forward conveyance.

Mullcorr

MissElle wrote: »

Been following this thread with great interest over the last 12 months, delighted to be able to finally join in! Loads of great advice on it Recently mortgage approved in principle and put a deposit on a new build in North County Dublin after 18 months of saving every cent we could towards a deposit.

Quick question re solicitors fees, we had earmarked 5k taking into consideration stamp duty of 1% etc but have gotten 2 different quotes nearer the 6k mark.....is this normal or should we shop around a bit more?? FTB so fairly clueless about these kinda things!

I'd shop around some more.. our solicitor (all in, stamp duty, land reg, fees, searches etc) came in just under 4k. We're not in dub thou so that may make a difference! Congrats on your sale agreed! Exciting times!

mirrorwall14

Mullcorr wrote: »

I'd shop around some more.. our solicitor (all in, stamp duty, land reg, fees, searches etc) came in just under 4k. We're not in dub thou so that may make a difference! Congrats on your sale agreed! Exciting times!

We're coming in at 5.5k incl stamp duty on 250k odd purchase price. We're happy, she's been excellent. Slightly more than we budgeted but worth it. Dublin solicitor

Tuesday_Girl

mirrorwall14 wrote: »

We're coming in at 5.5k incl stamp duty on 250k odd purchase price. We're happy, she's been excellent. Slightly more than we budgeted but worth it. Dublin solicitor

I'm about the same - EUR5,463 of which EUR2,500 is stamp duty and EUR1,250 was the solicitors fee. The rest was LPT and service charges owing, land registry fees, searches, etc.

Tuesday_Girl

MissElle wrote: »

Been following this thread with great interest over the last 12 months, delighted to be able to finally join in! Loads of great advice on it Recently mortgage approved in principle and put a deposit on a new build in North County Dublin after 18 months of saving every cent we could towards a deposit.

Quick question re solicitors fees, we had earmarked 5k taking into consideration stamp duty of 1% etc but have gotten 2 different quotes nearer the 6k mark.....is this normal or should we shop around a bit more?? FTB so fairly clueless about these kinda things!

It really depends on how much of that is stamp duty.

Pepe LeFrits

Solicitors professional fees are generally in the 1400-1900 range as I recall. Or at least they were a year ago. Then you've stamp duty and all the search fees etc.

It wouldn't be something I'd skimp on to be honest.

Zzippy

Tuesday_Girl wrote: »

I'm about the same - EUR5,463 of which EUR2,500 is stamp duty and EUR1,250 was the solicitors fee. The rest was LPT and service charges owing, land registry fees, searches, etc.

The vendor should be clearing any LPT and charges owing before the sale is completed, you shouldn't be paying for that.

angeldelight

Zzippy wrote: »

The vendor should be clearing any LPT and charges owing before the sale is completed, you shouldn't be paying for that.

Apparently the guidance now is that the LPT be time-apportioned based on when in the year the sale occurs

CountingClocks

Yes I'm liable for those charges from August when the sale closed.

Siipina

Bank sorted, insurance sorted just waiting for the contracts now. Hopefully this week is a week of action

Tasden

Siipina wrote: »

Bank sorted, insurance sorted just waiting for the contracts now. Hopefully this week is a week of action

Good luck!

Pepe LeFrits

Congrats. Small bit of advice - don't let the bank do the drawdown on a Friday.

Siipina

Pepe LeFrits wrote: »

Congrats. Small bit of advice - don't let the bank do the drawdown on a Friday.

Why not? Because we have to wait than the weekend? ,

Pepe LeFrits

Yeah, you'll get charged for the interest on it over the weekend. My bank assured me it would clear in the morning and it didn't clear until just before the end of the day.

68 lost souls

Ok loan aprons in principle from several banks, deposit paid on new build to be completed early next summer more than likely. We had to give our solicitor a bank to deal with so gave the one that was easiest to deal with so far.

Going to go untimetly with the best rates how do we proceed, wait until early next year to start going to further steps with the banks? Do we give the banks all the details of the house and continue until draw down or what's the story?

yellowballon

Solicitor email on Friday to say contracts & loan offer had arrived and to call him to arrange to meet him. I dialed his number within seconds of the email arriving in my inbox but he was 'with a client' tried several times through out the day and receptionist advised she would get him to call back but it would be after 5:30. I was fine with that as I wanted to move things along and not have to think about it over the weekend. No call came anyway.

I emailed him Saturday morning asking could he call me Monday and let me know what I need to bring or have prepared so I can arranged to have before the meeting as I am in the UK with work most of the week.

Still no reply or call - receptionist told me she could schedule so have something penciled in for Friday as I am working from home that day.

Does anyone know if I need to have anything ready for Friday? Rest of deposit cheque etc? Is this just reviewing the contacts? Will I be signing do you think?

Also on all your experiences - when do you pay the solicitor?

Thanks

GeorgeOrwell

yellowballon

Exciting!

You'll probably have to pay your deposit, either by cheque or bank transfer. So take your cheque book.

Also, take your passport or other photo identification. My solicitor took a photocopy of my passport and needed some utility bills to prove my address.

You'll have to pay:
1. solicitor's fees
2. stamp duty
3. any outstanding LPT
4. deposit

I paid all of those when I met my solicitor, and the funds are held in the solicitor's client account until the contracts are signed when the money is then released.

yellowballon

GeorgeOrwell wrote: »

yellowballon

Exciting!

You'll probably have to pay your deposit, either by cheque or bank transfer. So take your cheque book.

Also, take your passport or other photo identification. My solicitor took a photocopy of my passport and needed some utility bills to prove my address.

You'll have to pay:
1. solicitor's fees
2. stamp duty
3. any outstanding LPT
4. deposit

I paid all of those when I met my solicitor, and the funds are held in the solicitor's client account until the contracts are signed when the money is then released.

Thanks for the reply GeorgeOrwell, that what I really needed to know as need to do a runaround of banks & credit union to accumulate all my savings!

Exciting that its slowly progressing!

GeorgeOrwell

My advice is to get all the financial paperwork together before seeing the solicitor.

You'll need to prove where ALL of the money comes from. Getting paperwork from banks takes a lot more hassle than you can imagine!

yellowballon

Will the bank look for more paperwork at this point? I have the full offer and already shown proof of funds with those statements.

Utah

yellowballon wrote: »

Solicitor email on Friday to say contracts & loan offer had arrived and to call him to arrange to meet him. I dialed his number within seconds of the email arriving in my inbox but he was 'with a client' tried several times through out the day and receptionist advised she would get him to call back but it would be after 5:30. I was fine with that as I wanted to move things along and not have to think about it over the weekend. No call came anyway.

I emailed him Saturday morning asking could he call me Monday and let me know what I need to bring or have prepared so I can arranged to have before the meeting as I am in the UK with work most of the week.

Still no reply or call - receptionist told me she could schedule so have something penciled in for Friday as I am working from home that day.

Does anyone know if I need to have anything ready for Friday? Rest of deposit cheque etc? Is this just reviewing the contacts? Will I be signing do you think?

Also on all your experiences - when do you pay the solicitor?

Thanks

You'll just need the bank draft for the deposit balance if you're signing contracts

yellowballon

Thanks Utah - is this signing though?
From reading this thread I thought the solicitor would take a few weeks to do searches etc and then I sign?
Or do I sign first?
He only got the contracts on Friday so thought it was a bit soon!
So confusing.....