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When do the banks recieve 2018 exemptions?

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  • 19-11-2017 3:19pm
    #1
    flashforward
    Registered Users Posts: 314 ✭✭


    Per the title - Do all the banks receive their exemption allotment at the start of 2018?

    I've read that auctioneers recommend sellers to put their property for sale in the new year, rather than putting it up in Nov/Dec - thinking this has something to do with that?

    More exemptions = higher sell price....


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    #2
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,218 Mod ✭✭✭✭godtabh


    they have a limited number per year so 2918 will be allotted in 2018


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    #3
    Interested Observer
    Registered Users Posts: 13,106 ✭✭✭✭Interested Observer


    20% of mortgages are allowed an exemption as far as I know, so logically for every 5 they give out 4 would have to be within the Central Bank guidelines. To me that suggests they can give them out at any point in the year as long as there are enough 'normal' mortgages to account for them. Now in practice I guess they could front-load them and give out loads in the early year in the knowledge they'll have a lot more applicants later in the year that don't need one.

    I met with a KBC mortgage advisor a month or two ago and she suggested that my partner and I could apply for an exemption. She made no reference to us having to wait until next year. I don't think we'll need one thankfully so makes life a bit easier.


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    #4
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,218 Mod ✭✭✭✭godtabh


    Interested Observer wrote: »

    I met with a KBC mortgage advisor a month or two ago and she suggested that my partner and I could apply for an exemption. She made no reference to us having to wait until next year. I don't think we'll need one thankfully so makes life a bit easier.

    KBC told us the exact same thing a year ago. Did our application and they told us to PFO.

    We spent weeks getting their documents and presenting them exactly as they wanted.

    That was this time last year.Went through a broker in the end with the same info and got the exemption in June of this year.


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