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

Laghan

With AIB, I got a 6 month moratorium. The repayments are quite low so I didn't really need it but thought it might be handy to get up and running or save the repayments to build up a small safety net since the whole house purchase has completely eaten our savings!!

Logicost31

Looking for thoughts on the (potential) upcoming first time buyers benefits from the budget. When it was announced, it was mentioned it would be backdated to the announcement date in July. Would it be wise to push an upcoming signing of contracts & completion date until after the budget is announced (if possible) in case any potential benefits are not backdated? Or should we sign and complete as soon as possible in case the outcome of the budget changes the vendors minds at the last minute?

sadie1502

Some of you are renting at the moment? When do you feel you could let the landlord know you were moving out ? As in did you have keys before you informed them ?

matrim

sadie1502 wrote: »

Some of you are renting at the moment? When do you feel you could let the landlord know you were moving out ? As in did you have keys before you informed them ?

You can give them a heads up but wait until you have the keys in your hand to give an official date. We were told a couple of weeks ago that we would get the keys last week. We told our landlord and gave him notice until the end of the month (he agreed to waive 2 weeks from the 6 weeks we were supposed to give him).

Because of a paperwork issue (NPPR exemption missing) we didn't get the keys. We hope it might be Monday but can't even guarantee that it will be next week. We now have to go back to the landlord to request that he lets us stay a bit longer so we are sure we don't end up without anywhere to say and to have time to move / clean.

sadie1502

matrim wrote: »

You can give them a heads up but wait until you have the keys in your hand to give an official date. We were told a couple of weeks ago that we would get the keys last week. We told our landlord and gave him notice until the end of the month (he agreed to waive 2 weeks from the 6 weeks we were supposed to give him).

Because of a paperwork issue (NPPR exemption missing) we didn't get the keys. We hope it might be Monday but can't even guarantee that it will be next week. We now have to go back to the landlord to request that he lets us stay a bit longer so we are sure we don't end up without anywhere to say and to have time to move / clean.

Yeah it happened us before we gave notice back in may but the house fell through went back to landlord on the off chance the house wasnt filled that and we didn't think we would find another house so quickly. We had to sign another contract for the year back in June. When is the latest we can give notice. Last time I was giving them the heads up they took it literally they are first timers at renting. We have paid up until the 19th of Oct ill wait till next week to see if our solicitor gets the signed contract back then I'll say it to landlord

mirrorwall14

Ladies and gents we made it!!! Got the keys this evening at 4ish and spent a few hours over there figuring stuff out and having dinner. Back home to get some more boxes for the movers and we're now exhausted sitting down. Movers here at 9am to get the couches and cot, beds etc across and both sides of the family landing in to help us pack/unpack and babysit!

I honestly don't know if I'm coming or going. It doesn't feel real at all. I'm exhausted from packing, my eye won't stop twitching and I'm short about a week of sleep but we own a house!!!!!!

Santy2015

mirrorwall14 wrote: »

Ladies and gents we made it!!! Got the keys this evening at 4ish and spent a few hours over there figuring stuff out and having dinner. Back home to get some more boxes for the movers and we're now exhausted sitting down. Movers here at 9am to get the couches and cot, beds etc across and both sides of the family landing in to help us pack/unpack and babysit!

I honestly don't know if I'm coming or going. It doesn't feel real at all. I'm exhausted from packing, my eye won't stop twitching and I'm short about a week of sleep but we own a house!!!!!!

It's a great felling waking up after your first night knowing you've bought your own house we're in ours 7 weeks now. Time has flown

Siipina

mirrorwall14 wrote: »

Ladies and gents we made it!!! Got the keys this evening at 4ish and spent a few hours over there figuring stuff out and having dinner. Back home to get some more boxes for the movers and we're now exhausted sitting down. Movers here at 9am to get the couches and cot, beds etc across and both sides of the family landing in to help us pack/unpack and babysit!

I honestly don't know if I'm coming or going. It doesn't feel real at all. I'm exhausted from packing, my eye won't stop twitching and I'm short about a week of sleep but we own a house!!!!!!

Congratulations mirrorwall that's great news.

Well, we got yesterday our notice of termination in our rental. Landlady wants to move back in or at least that's what she is telling us.
Now we can only hope and pray that the sale goes through and fast orwe are in a really bad situation.

Tasden

mirrorwall14 wrote: »

Ladies and gents we made it!!! Got the keys this evening at 4ish and spent a few hours over there figuring stuff out and having dinner. Back home to get some more boxes for the movers and we're now exhausted sitting down. Movers here at 9am to get the couches and cot, beds etc across and both sides of the family landing in to help us pack/unpack and babysit!

I honestly don't know if I'm coming or going. It doesn't feel real at all. I'm exhausted from packing, my eye won't stop twitching and I'm short about a week of sleep but we own a house!!!!!!

Congratulations!! Ye did it!!

mirrorwall14

Santy2015 wrote: »

It's a great felling waking up after your first night knowing you've bought your own house we're in ours 7 weeks now. Time has flown

Gosh is it really that long? Feels like yesterday.

Many many hours of hard work later (even though the movers did a lot of heavy lifting this morning) we have the vast majority of stuff in the new place and the kitchen and babys room more or less unpacked. Every other room still has at least some boxes in it but not bad work for one day so we're delighted. Everyone has gone home and its just the two of us (and the toddler asleep upstairs) so we are getting a chance to breath and relax. Its awesome. I love it so much. So so happy. Thanks for the good wishes everyone!

Naid23

mirrorwall14 wrote: »

Gosh is it really that long? Feels like yesterday.

Many many hours of hard work later (even though the movers did a lot of heavy lifting this morning) we have the vast majority of stuff in the new place and the kitchen and babys room more or less unpacked. Every other room still has at least some boxes in it but not bad work for one day so we're delighted. Everyone has gone home and its just the two of us (and the toddler asleep upstairs) so we are getting a chance to breath and relax. Its awesome. I love it so much. So so happy. Thanks for the good wishes everyone!

Delighted for you hun. After all the stress you went through, you deserve it. Enjoy x

sadie1502

mirrorwall14 wrote: »

Gosh is it really that long? Feels like yesterday.

Many many hours of hard work later (even though the movers did a lot of heavy lifting this morning) we have the vast majority of stuff in the new place and the kitchen and babys room more or less unpacked. Every other room still has at least some boxes in it but not bad work for one day so we're delighted. Everyone has gone home and its just the two of us (and the toddler asleep upstairs) so we are getting a chance to breath and relax. Its awesome. I love it so much. So so happy. Thanks for the good wishes everyone!

Enjoy every minute of it !!!

Sebastian Dangerfield

Potential hold up our end, so frustrating. Due to close on 30th Sept and will probably be delayed a week.

We got mortgage protection from Zurich, starting 10 days earlier as the solicitor instructed. For some reason the cert they issued has an "issue date" of 20/9 and a "start date" of 1/10. They insist cover starts from the issue date, but PTSB wont issue the funds til after the start date of 1st Oct.

In addition, we have taken out buildings insurance with PTSB and they cant seem to get the indemnity letter to the right person in their own lending department. Hoping the 3rd one gets there on Monday.

So much admin!

GinaI

How can I change an electricity bill to my name after moving to the house? I don't know what company the seller was with. Should I ask my solicitor for a copy of their last bill? Thanks

Tuesday_Girl

GinaI wrote: »

How can I change an electricity bill to my name after moving to the house? I don't know what company the seller was with. Should I ask my solicitor for a copy of their last bill? Thanks

You don't need to know who the previous owners were with. You can ring any supplier with the current meter details and open an account with them.

Sleepy

mirrorwall14 wrote: »

Ladies and gents we made it!!! Got the keys this evening at 4ish and spent a few hours over there figuring stuff out and having dinner. Back home to get some more boxes for the movers and we're now exhausted sitting down. Movers here at 9am to get the couches and cot, beds etc across and both sides of the family landing in to help us pack/unpack and babysit!

I honestly don't know if I'm coming or going. It doesn't feel real at all. I'm exhausted from packing, my eye won't stop twitching and I'm short about a week of sleep but we own a house!!!!!!

Been checking the thread to see how you were getting on, absolutely delighted for you. It's a long road and the house will no doubt throw a few surprises at you but try not to let them get to you too much: making your home your own is one of the most satisfying things I've ever experienced and the nasty surprises are part of the experience.

I'm up until 2am most nights since we moved in doing sort of DIY or other, haven't had 8 hours sleep in weeks but I'm absolutely loving it (have even lost about a stone from all the work!).

The bit I bolded? It's the last time you'll ever refer to your old rental as that!

Congrats and enjoy your new home!

zedhead

Valuation done today so just need to wait for letter of offer from the bank and everything on our side is done.

Have our life insurance mostly sorted and just going to go with the people our contents insurance is with for the house insurance and upgrade our policy.

Feel a little useless though now. Feel like I need to be doing something to move it along but our broker said everything is in hand now and to just wait for the updates.

Naid23

So after 2 weeks of us being the only bid on this house - Suddenly a new bidder has appeared and has offered the asking price (Apparently). The EA went to great lengths to tell my boyfriend that the new bidders were also first time buyers (as if to put us off matching the bid).
Very suspicious altogether and seriously frustrating.
Emigrating will be easier as this stage (Strongly strongly considering this as an option )

Rant over!

Penn

zedhead wrote: »

Have our life insurance mostly sorted

This has been the bane of my existence going on 6 weeks now. House insurance sorted out over the phone in 2 minutes, no problem. Mortgage protection? Feels like I'm doing nothing but jumping through every hoop they put in front of me and spending the rest of the time phoning them asking them trying to make sure they're getting everything sorted on their end.

6 goddamn weeks it's delayed me now for something they were always going to add a premium to my policy for anyway, as well as costing me time off work, going to have to pay to get the valuation survey reissued, and nothing but stress. Should hopefully be sorted by tomorrow, but f*ck me they need to streamline that f*cking service.

MissElle

Penn wrote: »

6 goddamn weeks it's delayed me now for something they were always going to add a premium to my policy for anyway, as well as costing me time off work, going to have to pay to get the valuation survey reissued, and nothing but stress. Should hopefully be sorted by tomorrow, but f*ck me they need to streamline that f*cking service.

+1 to this! I've a pre existing medical condition that I know I'll be loaded for, but the form was delayed getting to my GP and now he's away! Plus I still might need to do their medical anyway. I applied for cover nearly 4 weeks ago and it doesn't look like its going to be sorted any time soon.

Penn

MissElle wrote: »

+1 to this! I've a pre existing medical condition that I know I'll be loaded for, but the form was delayed getting to my GP and now he's away! Plus I still might need to do their medical anyway. I applied for cover nearly 4 weeks ago and it doesn't look like its going to be sorted any time soon.

Same here. Pre-existing medical condition that I was completely honest about in the first meeting.

Then they sent me an email with some further questions saying if I answered them, they wouldn't need to send a form to the gp to fill out.

Then they said they had to send the form to the gp.

Then they decided they needed to do a medical, which took over a week and a half to organise and involved going over the same questions both I and my gp had already answered.

Results finally came back and I've to meet them tomorrow to discuss "special terms" which likely means I'll just have to pay a bit extra which they could have just done weeks ago based on the fact I was honest and upfront about it in the first place and verified by the gp.

It's been harder and more stressful to get than the f*cking mortgage in the first place.

highgiant1985

I've gone sale agreed last week on a property and got a survey done straight away.

Most of the issues from it are small and I'd be happy to look after myself once I get the house.

There's one issue raised I'd like fixed before completing the sale. Do you normally raise this via the solicitors or the estate agent?

mirrorwall14

Life insurance is now my main advice for anyone planning on getting a mortgage. Do it when you get your first AIP even before hand. Get a 32 year policy and at least you have time to stress about it without trying to house hunt/draw down at the same time

mirrorwall14

Sleepy wrote: »

Been checking the thread to see how you were getting on, absolutely delighted for you. It's a long road and the house will no doubt throw a few surprises at you but try not to let them get to you too much: making your home your own is one of the most satisfying things I've ever experienced and the nasty surprises are part of the experience.

I'm up until 2am most nights since we moved in doing sort of DIY or other, haven't had 8 hours sleep in weeks but I'm absolutely loving it (have even lost about a stone from all the work!).

The bit I bolded? It's the last time you'll ever refer to your old rental as that!

Congrats and enjoy your new home!

I've been incredibly emotional all weekend and this has set me off again. Thanks so much and I hope all is going well for you too. We're wrecked but so so happy

ThisRegard

mirrorwall14 wrote: »

Life insurance is now my main advice for anyone planning on getting a mortgage. Do it when you get your first AIP even before hand. Get a 32 year policy and at least you have time to stress about it without trying to house hunt/draw down at the same time

Why Life rather than mortgage protection?

Penn

ThisRegard wrote: »

Why Life rather than mortgage protection?

I don't think you can get mortgage protection without having the mortgage arranged (eg. While you're still looking at houses etc), but if you already have life insurance it's pretty easy to add mortgage protection onto your existing policy rather than applying for a new one.

mirrorwall14

Penn wrote: »

I don't think you can get mortgage protection without having the mortgage arranged (eg. While you're still looking at houses etc), but if you already have life insurance it's pretty easy to add mortgage protection onto your existing policy rather than applying for a new one.

Exactly. You can tie a standard life insurance policy to the mortgage very easily which allows you to have it organised before the mortgage process itself. You just give the bank the policy document to hold for the duration of the mortgage

ThisRegard

Ok, but you can simply take out a mortgage protection policy on the new mortgage which would be much cheaper, if you're just looking for your mortgage to be covered.

mirrorwall14

ThisRegard wrote: »

Ok, but you can simply take out a mortgage protection policy on the new mortgage which would be much cheaper, if you're just looking for your mortgage to be covered.

Before I got my mortgage I got a 32 year term reducing life insurance policy for the mortgage amount we needed. This is now tied to the mortgage. It's the same price as a mortgage protection policy but allows you to have cover in advance.

Also as someone in a couple where it transpired one person was uninsurable I say get life cover as soon as you graduate. In the end we used a 5 year term limited policy (no one would insure him for longer) to get some of his salary taken into account. As a married couple they wouldnt count him unless he had cover. It is far far easier and cheaper to get cover young and before any issue crop up. He developed high BP just as we went looking for cover. If you have any policy you have a fall back if mortgage protection policies fall through

Penn

ThisRegard wrote: »

Ok, but you can simply take out a mortgage protection policy on the new mortgage which would be much cheaper, if you're just looking for your mortgage to be covered.

Agreed, but the point is that if you already have life insurance in place, adding mortgage protection to it is fairly simple. Whereas if you don't, regardless of whether you're going for life insurance + mortgage protection or just mortgage protection, it can take a few weeks and delay things. As I said, I've been waiting 6 weeks to finalise mortgage protection and have put off signing contracts until I'm sure I have it in place. In my opinion, it's taken at least 4 weeks too long and has therefore delayed me by same.

The solicitor's work and moving in should be fairly straightforward though so hoping to claw back a bit of time there.