Currently buying/selling a house? How is it going? READ MOD NOTE POST #1

Emma2019

Yeah its just to show you can pay any balance remaining and your stamp duty and solicitors fees.

These days a lot of people have had to pay much more than a deposit of 10% because house prices are rising so much.

SheepTurtle

Can I check if anyone who went with KBC for new mortgage were told after drawdown they were not entitled to the €1500 cashback offer? We drew down end of April and were told by our broker we would have it within the 30 days. Didn't get it so called KBC directly and took them days to get back to us to say we weren't entitled to it as we got an exemption. On our AIP we met all the criteria they listed and they had included the higher mortgage amount so a little confused now.

brianc27

EO2019 wrote: »

The bank want to see that you have the funds prior to drawdown before they release the money. They will take into consideration payments already made such as deposit. It’s the balance of funds they want to see in your bank.

Fair enough I suppose, when I went sale agreed I split all my money off into different savings accounts so I could keep track of what's going on what, it's all there though, I'll just need to get various different statements, or else put it all back in the one savings account as before

brianc27

SheepTurtle wrote: »

Can I check if anyone who went with KBC for new mortgage were told after drawdown they were not entitled to the €1500 cashback offer? We drew down end of April and were told by our broker we would have it within the 30 days. Didn't get it so called KBC directly and took them days to get back to us to say we weren't entitled to it as we got an exemption. On our AIP we met all the criteria they listed and they had included the higher mortgage amount so a little confused now.

Does it mention it in your form of acceptance, the particulars part, says so on mine, I'm going through KBC

Emma2019

brianc27 wrote: »

Fair enough I suppose, when I went sale agreed I split all my money off into different savings accounts so I could keep track of what's going on what, it's all there though, I'll just need to get various different statements, or else put it all back in the one savings account as before

I just sent a screenshot of my internet banking showing the account balances as I've several savings accounts too

They only wanted a statement for my salary mandated bank account. I actually ended up sending screenshots for that too as the dates were awkwardly inbetween statement dates

cintec

Waiting on the property to be valued by VMS Ireland and was wondering how long it normally takes?
so far i'm waiting 10 days(6 working days) is this normal?

Circus_O

Different valuer but took two weeks exactly for us. Requested Monday morning, Monday two weeks later got the valuation back.

Red Silurian

A house we were bidding on last year (not far from where we are living now) had a council van outside it all day yesterday and lads in the back garden doing some work

So effectively the council outbid us using our tax money against us - A bit annoying to say the least

Busi_Girl08

Red Silurian wrote: »

A house we were bidding on last year (not far from where we are living now) had a council van outside it all day yesterday and lads in the back garden doing some work

So effectively the council outbid us using our tax money against us - A bit annoying to say the least

That sucks

Not much good for you now but yer man from Crazy House Prices released a load of info a few weeks back on regulations that are meant to limit councils from buying homes against private buyers. He has the info up on his Instagram

Dublinandy3

SheepTurtle wrote: »

Can I check if anyone who went with KBC for new mortgage were told after drawdown they were not entitled to the €1500 cashback offer? We drew down end of April and were told by our broker we would have it within the 30 days. Didn't get it so called KBC directly and took them days to get back to us to say we weren't entitled to it as we got an exemption. On our AIP we met all the criteria they listed and they had included the higher mortgage amount so a little confused now.

We didn't use a broker but that info that we wouldn't be eligible if we got an exemption was told to us by kbc and we saw it in their terms when we looked at the promo with them. If it was just your broker that told you maybe he made a mistake.

Red Silurian

Busi_Girl08 wrote: »

That sucks

Not much good for you now but yer man from Crazy House Prices released a load of info a few weeks back on regulations that are meant to limit councils from buying homes against private buyers. He has the info up on his Instagram

Good to know thanks, not much good for that sale but it might help me out with future biddings

Damo 2k9

cintec wrote: »

Waiting on the property to be valued by VMS Ireland and was wondering how long it normally takes?
so far i'm waiting 10 days(6 working days) is this normal?

Were waiting on valuation with VMS too, on a new build. We were told that we wont get the report back and it will go straight to the lender, so not sure when we will know if its been completed

Emma2019

You'll need to have sight of the report at some point because it gives the rebuild value which you need to get home insurance.

houseyhouse

Emma2019 wrote: »

You'll need to have sight of the report at some point because it gives the rebuild value which you need to get home insurance.

When we got home insurance we gave the insurance company details about the property (age, size, etc.) and they came up with a rebuild value based on that. Might be different if you have a more unusual/one-off house. Ours is a semi-d.

Emma2019

No mine is also a semi-d.

I would personally prefer the figure as given by someone who's been in the house rather than general parameters. Bit awkward if your house burns down and you'd been under or over insuring it.

Also even where the report goes direct to the lender I've had friends be able to request a copy.

Ace2007

Emma2019 wrote: »

. Bit awkward if your house burns down and you'd been under or over insuring it.

Wouldn’t be awkward at all - you’ll just lose out either way.

Insurance will cover the minimum of cost to rebuild or value of house’s insured.

brianc27

Mortgage protection question, am I supposed to fill out my mortgage protection details on the assignment of life form the bank sends with acceptance of loan offer, my solicitor just told me to sign it, but notice there's a section for filling out what looks like your mortgage protection insurance details, my solicitor informed me today he sent it off to the bank, but I never filled anything out other then my signature on it, sent him a mail there asking did we miss anything

Emma2019

Ace2007 wrote: »

Wouldn’t be awkward at all - you’ll just lose out either way.

Insurance will cover the minimum of cost to rebuild or value of house’s insured.

Exactly, surely you'd want a minimal difference in those two figures so that you're not left short, or didn't waste money over paying.

houseyhouse

Emma2019 wrote: »

No mine is also a semi-d.

I would personally prefer the figure as given by someone who's been in the house rather than general parameters. Bit awkward if your house burns down and you'd been under or over insuring it.

Also even where the report goes direct to the lender I've had friends be able to request a copy.

I have nothing against using the report but I can’t imagine the calculation comes out all that different for a semi-d either way. Houses have to be rebuilt to current building regs, so current levels of insulation/ windows type etc aren’t that relevant unless you have something unusual or very high spec. For estate type houses you can estimate the cost on your own using the SCSI guidelines, too. And with building costs rising and regulations changing the way they are at the minute, you really need to recalculate it every year anyway.

Red Silurian

Red Silurian wrote: »

A house we were bidding on last year (not far from where we are living now) had a council van outside it all day yesterday and lads in the back garden doing some work

So effectively the council outbid us using our tax money against us - A bit annoying to say the least

Had the same. It’s scandalous really, first time buyers being outbid by councils and housing “charities” who Hoover up anything relatively cheap. The vultures got all the publicity but it seems the powers that be are happy for councils to outbid everyone.

There are rules as someone above mentioned. It’s quite murky though, lots to do with ex-council/corpo houses and how many times it’s been sold in 25 years etc.

I did hear (not sure how true) that councils, morally, are not supposed to bid against first time buyers etc but how this works in practice, I don’t know.

niniboots

Posted earlier in thread, we had placed booking deposit on 3bed in Williams Grove Ardclough, Straffan. In the interest of saving time and heartache for anyone else looking at these, we withdrew our booking deposit. When we got the solicitors pack, he had highlighted in red all the burdens on the estate. It's a new build, gorgeous estate actually and lovely houses (some quite large ones planned for next phases) but the original planning included a 1000PE capacity waste sewage plant onsite. Now you would think this may be in the field a bit away but no, it's plonked right at the front of the estate on the green area. They are planting a few trees around it eventually and its to service the school, the village, the new estate & future planning. Irish water can't afford to upgrade the existing one and Kildare allowed planning on the basis the developer build one. He moved few houses & plonked it at the front. We are really dissapointed it's been so difficult to find anywhere. Constantly outbid, new homes gone in minutes and looks like this for next few years! While we are desperately looking, I'm not willing to pay 405k to live 50 meters from a sewage plant! We did a survey (waste of money), plants over 500PE despite being updated are connected to old drainage systems and frequently go wrong, omitting odours and noise from generators, tgis is 1000 capacity. Planning in this country alongside everything else is a shambles. Back to the drawing board

Sweet.Science

Red Silurian wrote: »

A house we were bidding on last year (not far from where we are living now) had a council van outside it all day yesterday and lads in the back garden doing some work

So effectively the council outbid us using our tax money against us - A bit annoying to say the least

Been there . Where abouts was this ?

cintec

Damo 2k9 wrote: »

Were waiting on valuation with VMS too, on a new build. We were told that we wont get the report back and it will go straight to the lender, so not sure when we will know if its been completed

They must have been monitoring me because I got mine this morning so one less thing to worry about.

The valuation did go to the bank but when the loan pack was sent to my solicitor it included the valuation of the property so I got a copy of it too.

SheepShep

Emma2019 wrote: »

Yes, you've to show you've enough in your accounts to pay stamp duty and solicitors fees etc when you're submitting drawdown docs so theyll have to transfer in advance. Or they can buy your furniture after the fact.

Never ever heard of banks checking you have solicitor and stamp duty fees. Just shows how the process is different for everyone.

SheepShep

SheepTurtle wrote: »

Can I check if anyone who went with KBC for new mortgage were told after drawdown they were not entitled to the €1500 cashback offer? We drew down end of April and were told by our broker we would have it within the 30 days. Didn't get it so called KBC directly and took them days to get back to us to say we weren't entitled to it as we got an exemption. On our AIP we met all the criteria they listed and they had included the higher mortgage amount so a little confused now.

We went with KBC and drewdown in March. Got the refund without chasing it straight to our bank a couple of weeks after. Could it be because you went through a broker maybe?

SheepShep

zuhuraswa wrote: »

This is what I don't get either when people are saying showing proof of funds at drawdown. Surely at drawdown 10% is already with the solicitor (actually solicitor transfers it to vendors' solicitor way before that after signing contract)? In my case, I would also transferred the property tax/stamp duty etc to the solicitor too and sorted out insurances etc as they were drawdown pre-conditions, so I don't get when people say this too.

Yeah it certainly wasn't our experience. By the time drawdown came, we didn't have much in our current account other than whatever pay had gone through that week. All they asked for was up to date payslips. Sure all the money was with the solicitor by that stage.

EO2019

In our case we need 20% so only 10% paid to solicitor. Bank wants to see evidence of other 10% before they release funds

Red Silurian

Deleted User wrote: »

Had the same. It’s scandalous really, first time buyers being outbid by councils and housing “charities” who Hoover up anything relatively cheap. The vultures got all the publicity but it seems the powers that be are happy for councils to outbid everyone.

There are rules as someone above mentioned. It’s quite murky though, lots to do with ex-council/corpo houses and how many times it’s been sold in 25 years etc.

I did hear (not sure how true) that councils, morally, are not supposed to bid against first time buyers etc but how this works in practice, I don’t know.

I wouldn't consider the house to have been cheap, unless 320k+ is considered cheap... And I have nothing against social housing but consider how many houses would they have built on their own land for that price?

We didn't know at the time that it was the council bidding against us so not sure if they would know (or even if they could be told) that we are first-timers

It was very strange as we had constantly bid 2.5-3k more than the last guy but when it was just us and the council they only ever went 1k above our bid

Sweet.Science wrote: »

Been there . Where abouts was this ?

I won't go into any details as I have no concrete evidence and don't want boards or myself to be done for libel...

A little tip though... Another way of knowing if the house was council/charity bought is to check the address on the Property Price Register... If the sale isn't shown it means they didn't pay stamp duty on it, and only councils (and I think certain charities) are exempt from stamp duty

Ace2007

Red Silurian wrote: »

A little tip though... Another way of knowing if the house was council/charity bought is to check the address on the Property Price Register... If the sale isn't shown it means they didn't pay stamp duty on it, and only councils (and I think certain charities) are exempt from stamp duty

What do you mean if the sale isn't shown? As in not on PPR at all?

stampydmonkey

niniboots wrote: »

Posted earlier in thread, we had placed booking deposit on 3bed in Williams Grove Ardclough, Straffan. In the interest of saving time and heartache for anyone else looking at these, we withdrew our booking deposit. When we got the solicitors pack, he had highlighted in red all the burdens on the estate. It's a new build, gorgeous estate actually and lovely houses (some quite large ones planned for next phases) but the original planning included a 1000PE capacity waste sewage plant onsite. Now you would think this may be in the field a bit away but no, it's plonked right at the front of the estate on the green area. They are planting a few trees around it eventually and its to service the school, the village, the new estate & future planning. Irish water can't afford to upgrade the existing one and Kildare allowed planning on the basis the developer build one. He moved few houses & plonked it at the front. We are really dissapointed it's been so difficult to find anywhere. Constantly outbid, new homes gone in minutes and looks like this for next few years! While we are desperately looking, I'm not willing to pay 405k to live 50 meters from a sewage plant! We did a survey (waste of money), plants over 500PE despite being updated are connected to old drainage systems and frequently go wrong, omitting odours and noise from generators, tgis is 1000 capacity. Planning in this country alongside everything else is a shambles. Back to the drawing board

I don't see the issue bar the price of the house. I assume this estate has plenty of green space if it can accommodate a small sewage treatment plant. These have to go somewhere. Have you lived beside a sewage treatment plant? Modern systems emit very little if any odour