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

MissElle

Thanks for all the replies! We went with a local solicitor in the end, price will come to just under 5.5k. Our stamp duty is just under 3k, so seems average enough based on other people Ive asked. Still waiting on our contract, hopefully this will arrive this week!

Flatzie_poo

sadie1502 wrote: »

Closedown date 7th of October what does that mean ? Do we get the keys that day ?

That's the mortgage drawdown date. (The Date your loan is effective)

Your bank releases funds on that date.

Your solicitor confirms the bank's funds have reached their account.

Your solicitor confirms funds have been released to the vendor's solicitor.

When the vendor's solicitor confirms funds have reached their account, they'll instruct the estate agent to release the keys to you.

You go and get your keys! I collected mine from their office.

Once it's all done in reasonable time on that day (no bank delays) you should be good to get them.

Just make sure all your insurance policies are effective the day before drawdown date. That caused me a very annoying delay.

sadie1502

Flatzie_poo wrote: »

That's the mortgage drawdown date. (The Date your loan is effective)

Your bank releases funds on that date.

Your solicitor confirms the bank's funds have reached their account.

Your solicitor confirms funds have been released to the vendor's solicitor.

When the vendor's solicitor confirms funds have reached their account, they'll instruct the estate agent to release the keys to you.

You go and get your keys! I collected mine from their office.

Once it's all done in reasonable time on that day (no bank delays) you should be good to get them.

Just make sure all your insurance policies are effective the day before drawdown date. That caused me a very annoying delay.

We have transferred all deposit. Signed contracts the told us look at insurance getting it done two weeks before so they can check it out the broker. The forms all filled in life insurance we just have to give the go ahead so ill leave it until early next week to activate. How long does home insurance take ? We haven't looked it it yet. Have ye got any good deals on home insurance?

Flatzie_poo

sadie1502 wrote: »

We have transferred all deposit. Signed contracts the told us look at insurance getting it done two weeks before so they can check it out the broker. The forms all filled in life insurance we just have to give the go ahead so ill leave it until early next week to activate. How long does home insurance take ? We haven't looked it it yet. Have ye got any good deals on home insurance?

The hard part is out of the way for you so!

Congrats!

AIB blew the market out of the water for us ( have no affiliation with the guys - just got an amazing deal.)

Underwritten by Axa, but they good give discounts, which increment based on the more of their products you have, current a/c, mortgage, credit card etc.

Home insurance is a lot easier to sort than life assurance. I got about 5 quotes in a day and had it activated (for the wrong date) in under an hour in total time on the phone to them.

Shop around though - the market might have changed drastically since!

Get the life assurance in early as advised, they may have to write to your GP depending on your health circumstances! I know individuals that this has stung!

sadie1502

Flatzie_poo wrote: »

The hard part is out of the way for you so!

Congrats!

AIB blew the market out of the water for us ( have no affiliation with the guys - just got an amazing deal.)

Underwritten by Axa, but they good give discounts, which increment based on the more of their products you have, current a/c, mortgage, credit card etc.

Home insurance is a lot easier to sort than life assurance. I got about 5 quotes in a day and had it activated (for the wrong date) in under an hour in total time on the phone to them.

Shop around though - the market might have changed drastically since!

Get the life assurance in early as advised, they may have to write to your GP depending on your health circumstances! I know individuals that this has stung!

Thank you !

Hopefully everything goes smoothy this time. They are keen to sell but they are buying a small we house that is a bank repo. I have asked our solicitor to confirm with other solicitor that they will not hold out on signing until they sort their othee property out as that could take months. But she seems to think they are keen to sign to get the money to move.

So you can get home insurance online perfect I can look into that this evening. We have no underlyi health issues so it should be straight forward enough we hope.

Naid23

So we're the only bid on a house - Owner has rejected our offer, fair enough. Offered 20k under asking

Said theres supposed to be another viewing on saturday so gonna wait til monday and see if there is any more interest and then reiterate our offer is available.

Its currently in probate so thinking that the process might be putting people off but no idea really so will be another weekend of not knowing.

Siipina

Solicitor got the planning permission today but now the difficulty that we have is we are not in receipt of an up to date Certificate of Compliance with both Planning Permission and Building Regulations and we apparently require this in order to obtain a mortgage.
Somehow I dont get this. The house was build in the 1980s but does it mean they need it to complain with new building regulations?
They wanted the survey we carried out, send it to them hopefully it can be solved. Closing date should be Friday but I dont think that will work out.
Does anyone know how long this can delay anything?
I am very much getting stressed out by now

Laghan

Solicitor emailed today to let me know the contracts had come through! Horrah! After just over 5 weeks I was starting to worry... just a little. She will check over them over the next few days and get back to me! yay!:)

@Siipina - Are you sure that wasn't a clerical error on their behalf when they asked you for proof of compliance with building regs? You wouldn't need to comply with current building regs if it was built in 1980, and there was no building regs back then either? It sounds a bit strange to me.

Siipina

Laghan wrote: »

Solicitor emailed today to let me know the contracts had come through! Horrah! After just over 5 weeks I was starting to worry... just a little. She will check over them over the next few days and get back to me! yay!:)

@Siipina - Are you sure that wasn't a clerical error on their behalf when they asked you for proof of compliance with building regs? You wouldn't need to comply with current building regs if it was built in 1980, and there was no building regs back then either? It sounds a bit strange to me.

That's great Laghan fingers crossed everything will be fine.
It sounds for me very strange as well.I get the point with the planning permission but now everything up to date? Maybe it was a error on their side, I did send them the survey which is fine so see how it will turn out.

The Mulk

Siipina wrote: »

That's great Laghan fingers crossed everything will be fine.
It sounds for me very strange as well.I get the point with the planning permission but now everything up to date? Maybe it was a error on their side, I did send them the survey which is fine so see how it will turn out.

Have there been any alterations to the property, like an extension, porch or garage conversion. You'll need a cert of compliance or exemption for these.

Siipina

The Mulk wrote: »

Have there been any alterations to the property, like an extension, porch or garage conversion. You'll need a cert of compliance or exemption for these.

Now that you say it, the garage, one of those inside the house, was converted into a normal room. Maybe that's the problem. How long would it take to get a cert?

mirrorwall14

Bank transferred to the solicitor yesterday. Awaiting confirmation it has arrived. Solicitor sends to vendors and we get keys tomorrow apparently!! Looking good right nowðŸ™

Does anyone know when the first mortgage payment is?

Tasden

mirrorwall14 wrote: »

Bank transferred to the solicitor yesterday. Awaiting confirmation it has arrived. Solicitor sends to vendors and we get keys tomorrow apparently!! Looking good right nowðŸ™

Does anyone know when the first mortgage payment is?

brilliant!

Siipina

mirrorwall14 wrote: »

Bank transferred to the solicitor yesterday. Awaiting confirmation it has arrived. Solicitor sends to vendors and we get keys tomorrow apparently!! Looking good right nowðŸ™

Does anyone know when the first mortgage payment is?

That's great mirrorwall 😊

Dr.Rieux

mirrorwall14 wrote: »

Bank transferred to the solicitor yesterday. Awaiting confirmation it has arrived. Solicitor sends to vendors and we get keys tomorrow apparently!! Looking good right nowðŸ™

Does anyone know when the first mortgage payment is?

For us with AIB it was a month after drawdown so our first payment was today. Hoping to change that to the start of the month soon though.

If the vendor's solicitor's client account is with a different bank to your own solicitor's, ensure your solicitor does the transfer early enough today to make sure that the money is in the client account and cleared before they'll release the keys. We didn't get the keys ourselves until 5:15pm and even then they hadn't cleared (but were visible as un-cleared funds), but all parties were happy with that, some might not be

The Mulk

Siipina wrote: »

Now that you say it, the garage, one of those inside the house, was converted into a normal room. Maybe that's the problem. How long would it take to get a cert?

It's the vendors responsibility to get this for you, it can be done in a couple of days.
Basically an surveyor(or another suitably qualified person) issues a letter stating whether the changes are exempt from planning based on the Local Government Act. Once the converted garage is connected to the house and less than 35sq. meters it should be ok.

Siipina

to

The Mulk wrote: »

It's the vendors responsibility to get this for you, it can be done in a couple of days.
Basically an surveyor(or another suitably qualified person) issues a letter stating whether the changes are exempt from planning based on the Local Government Act. Once the converted garage is connected to the house and less than 35sq. meters it should be ok.

its not connected to the house, only the garage door got closed and a window put in and a radiator is in now but thats it, it is still separate.

The Mulk

Siipina wrote: »

to

its not connected to the house, only the garage door got closed and a window put in and a radiator is in now but thats it, it is still separate.

I'm not sure on the exact rules and regulations, but your solicitor should be insisting on the certificate asap.
They vendor can't sell the house without it.

Naid23

The Mulk wrote: »

I'm not sure on the exact rules and regulations, but your solicitor should be insisting on the certificate asap.
They vendor can't sell the house without it.

I would agree with this. My sisters in Laws bout a house recently and the kitchen was extended without permission. Caused no end of trouble for them so i would get your solicitor to get onto them ASAP for it.

The Mulk

http://www.citizensinformation.ie/en/housing/planning_permission/planning_perm_altering_a_house.html

From the link

Generally, you will not need planning permission for:
Converting a garage attached to the rear or side of the house to domestic use provided it has a floor area of less than 40 square metres. Building a garage at the back or side of a house so long as it does not extend out in front of the building line of the house and does not exceed 4 metres in height (if it has a tiled/slated pitched roof) or three metres (if it has any other roof type). This building will be exempt from planning permission once the floor area is limited to 25 square metres. Garages or sheds to the side of the house must match the finish of the house and may not be lived in, used for commercial purposes or for keeping pigs, poultry, pigeons, ponies or horses.
If you want to make a material (that is, substantial) change to the use of land or buildings which will have an actual or potential impact on neighbours or the local community, then you will need planning permission.

For example, you will need planning permission if you propose to:

Convert your garage into a workshop for business use
Establish a creche

You still need a Cert whether it's Exempt from planning or not signed off by a suitably qualified person.

Bored Accountant

The Mulk wrote: »

http://www.citizensinformation.ie/en/housing/planning_permission/planning_perm_altering_a_house.html

From the link

Generally, you will not need planning permission for:
Converting a garage attached to the rear or side of the house to domestic use provided it has a floor area of less than 40 square metres. Building a garage at the back or side of a house so long as it does not extend out in front of the building line of the house and does not exceed 4 metres in height (if it has a tiled/slated pitched roof) or three metres (if it has any other roof type). This building will be exempt from planning permission once the floor area is limited to 25 square metres. Garages or sheds to the side of the house must match the finish of the house and may not be lived in, used for commercial purposes or for keeping pigs, poultry, pigeons, ponies or horses.
If you want to make a material (that is, substantial) change to the use of land or buildings which will have an actual or potential impact on neighbours or the local community, then you will need planning permission.

For example, you will need planning permission if you propose to:

Convert your garage into a workshop for business use
Establish a creche

You still need a Cert whether it's Exempt from planning or not signed off by a suitably qualified person.

Any ideas if specific planning is need for bathrooms. House we are buying had garage extended with room upstairs & utility connecting to kitchen. Planning permission was received to extend the existing garage with utility & room upstairs to be used as storage/playroom.

The previous owners are using the 'playroom' as a bedroom and an ensuite was added aswell. As you can see from the image, the ensuite seems to have been bit of cowboy job in relation to sewage works...
So even though we are sale agreed, full mortgage approval and just waiting for contracts from vendors solicitor, I'm still expecting us to run into serious issues because of this ensuite once the surveryor does his bit.

The Mulk

Sorry I'm not in that line of work, just experienced gained from trying to buy a house.:)
I can't offer any advice on your situation, maybe post in the Construction and Planning Forum

Tuesday_Girl

mirrorwall14 wrote: »

Bank transferred to the solicitor yesterday. Awaiting confirmation it has arrived. Solicitor sends to vendors and we get keys tomorrow apparently!! Looking good right nowðŸ™

Does anyone know when the first mortgage payment is?

I got my keys on 25 August and first payment was yesterday, you should get a letter from the bank soon tell you when it's going to be.

Santy2015

mirrorwall14 wrote: »

Bank transferred to the solicitor yesterday. Awaiting confirmation it has arrived. Solicitor sends to vendors and we get keys tomorrow apparently!! Looking good right nowðŸ™

Does anyone know when the first mortgage payment is?

We drew down on the 19th of July and first payment was 30th of August. End of next month

Santy2015

mirrorwall14 wrote: »

Bank transferred to the solicitor yesterday. Awaiting confirmation it has arrived. Solicitor sends to vendors and we get keys tomorrow apparently!! Looking good right nowðŸ™

Does anyone know when the first mortgage payment is?

We drew down on the 19th of July and first payment was 30th of August. End of next month

Dr.Rieux

Santy2015 wrote: »

We drew down on the 19th of July and first payment was 30th of August. End of next month

That might depend on bank, we drew down on 22nd August, and our first payment was today 22nd September. This is with AIB

intheclouds

The bank is telling me I must have Home Insurance in place before drawdown.

The insurance company is telling me that I cant insure something that I dont have an insurable interest in.

Its a bit catch 22? The insurance company are aware the banks are doing this.

Basically, the insurance company will date the policy as a couple of days before drawdown but if the house falls down before the mortgage is actually drawn down I wouldnt be able to claim on the policy as I dont have an insurable interest in the house until I own it.

Dr.Rieux

intheclouds wrote: »

The bank is telling me I must have Home Insurance in place before drawdown.

The insurance company is telling me that I cant insure something that I dont have an insurable interest in.

Its a bit catch 22? The insurance company are aware the banks are doing this.

Basically, the insurance company will date the policy as a couple of days before drawdown but if the house falls down before the mortgage is actually drawn down I wouldnt be able to claim on the policy as I dont have an insurable interest in the house until I own it.

Our solicitor advised us to get insurance as soon as we received the signed contracts as we did have an insurable interest, if the house burned down before closing, we had still entered a contract to take possession of the house (or embers) on the closing date (Paraphrasing the solicitor but it was something to that effect)

intheclouds

Dr.Rieux wrote: »

Our solicitor advised us to get insurance as soon as we received the signed contracts as we did have an insurable interest, if the house burned down before closing, we had still entered a contract to take possession of the house (or embers) on the closing date (Paraphrasing the solicitor but it was something to that effect)

Yeah that does sound more reasonable alright.

I have the insurance in place but we picked a far away date for it to begin that I will change as soon as I get a notion of closing date.

After pushing at us to get things rolling and ready we are now hanging about waiting on the vendor to do his bit before we can sign contracts.

mirrorwall14

Jaysus ye all got a break. Just got word our first payment is oct 10th! No month off for us. Funds arrived to solicitors today and are gone again so hopefully all is well

Edit: Did our final walk around this evening. I am so frigging excited now!!! Its perfect. Exactly as I remember. I cannot wait to move in