Mortgages |
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sid waddell
Roy Keane On a dark desert highway Joined: 20 Nov 2009 Status: Offline Points: 12173 |
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I hear Crumlin is like South Central Los Angeles these days. At least that's what Conor McGregor says.
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Zinedine Kilbane 110
Jack Charlton Man City records obsession Joined: 20 Mar 2012 Location: Dundalk Status: Offline Points: 9647 |
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We could all pay down our mortgage if we didn’t go out, go on holidays, have some fun etc I think he means you have to live now. Absolutely over-pay your mortgage if you have spare cash. Congrats SD - 99% of the time it works out fine, it may be longer than you think but you are nearly there. |
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Claret Murph
Paul McGrath Hmmm, Goodness, I must say Joined: 16 Apr 2009 Location: Tibet Status: Offline Points: 15750 |
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SD enjoy the moment but like what has been said nothing is final until you have the keys in your hand .
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Lansdowne Road debut aged 52 and 201 days .
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Baldrick
Robbie Keane Peyton-tly Pedantic Joined: 18 Sep 2008 Location: Ireland Status: Offline Points: 32791 |
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Jaysis my goal was to have sex before I was 40 and Mayo mark’s is to clear his mortgage. Get your priorities right mark :)
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AKA pedantic kunt
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GB 1HughJarse
Liam Brady Joined: 03 Sep 2015 Status: Offline Points: 2091 |
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Ah yeah but Mayo Mark’s goal is actually achievable |
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Bob Hoskins
Moderator Group Joined: 29 Jul 2007 Status: Offline Points: 20175 |
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this a good thing for distressed mortgages?
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Romario 2016: And the ticket mafia gets caught! Well, four years ago I had already told the government.
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bogball88
Liam Brady Joined: 16 May 2016 Location: Throne Status: Offline Points: 2674 |
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Thinking of buying my first property in the Greater belfast area and I am completely new to the whole thing, and generally quite confused about mortgages Any tips/ideas on the first steps on how to go about getting a mortgage, do I have the property in mind first that I want or see how much a mortgage I can afford? Which is best mortgage broker or bank? How long should the whole process take? Think SD has gone through it lately |
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SuperDave84
Robbie Keane ooh Thomas, how could you do this to me! Joined: 26 Aug 2011 Location: Far Fungannon Status: Offline Points: 21384 |
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Closing this week. I went sale agreed the week before Christmas. There were a few delays along the way, partly caused by the vendor's solicitor, partly caused by the bank, partly caused by me waiting on a few quid from the folks. The first thing I did was go to the bank and get approval in principle. I did that in October, then started looking. I had a look at the rates online before I went to the bank. Ulster Bank were among the best with their rates down here so I went with them. I bid on, I think, three different places. I was outbid on the first and the vendor accepted a bid on the second I would have went above, but for the fact I couldn't commit to going higher at that stage as I was the highest bidder on the first. I got the third though, which is an apartment. Once I had that done, I went to my solicitor, and we had to get a good few things from the vendor's solicitor, including things from the management company of the apartments. If it is an apartment, it will take longer than a house. I know that I'd definitely have been able to close at least two weeks earlier if we weren't waiting for so long for things from the management company and for the bank to check them out and it would probably have been even quicker than that. The bank need to make sure that the block insurance covers them, whereas if you are buying a house, it's a bit more straightforward, as you just get that yourself and send it over to them. Anyway, from bid accepted to keys in hand has taken me just under four months (counting me getting the keys this week).
Edited by SuperDave84 - 15 Apr 2019 at 5:49pm |
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bogball88
Liam Brady Joined: 16 May 2016 Location: Throne Status: Offline Points: 2674 |
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Had you already been banking with Ulster Bank or did you just go to them when you seen that their rates were the best? So it is best to go and look for an approval for x amount and when you then have been approved go out and look and see where you want to buy?
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Lenny82
Liam Brady Joined: 20 Aug 2010 Location: Ireland Status: Offline Points: 2914 |
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Approach as many banks as you can and seek pre-approval. Once you have offers on the table, start working with the most favourable ones (lowest interest rate, 2% cashback, legal fees paid) and provide them with all the documentation they will require I.e. 6 months of bank statements, proof of savings, proof of earnings/employment etc.
If you aren't telling little white lies on your application, once you have pre-approval you can comfortably start looking and bidding. Provided you don't have outstanding loans (car, credit union) and you can show a good track record of paying rent and saving, you should be okay.
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bogball88
Liam Brady Joined: 16 May 2016 Location: Throne Status: Offline Points: 2674 |
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With regards to savings, I don't have the likes of a savings account or an ISA, just a couple of different current accounts along with a credit union account. Will the absence of such accounts count against me?
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ShayGivensBum
Jack Charlton The lighter coloured grass is painted Joined: 24 Aug 2010 Status: Offline Points: 8316 |
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I found a mortgage broker very good for our mortgage. Made it much more straight forward than when we did it ourselves the first time.
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ShayGivensBum
Jack Charlton The lighter coloured grass is painted Joined: 24 Aug 2010 Status: Offline Points: 8316 |
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Once you have an account that you were regularly transferring x amount into evey month, then you should be fine.
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SuperDave84
Robbie Keane ooh Thomas, how could you do this to me! Joined: 26 Aug 2011 Location: Far Fungannon Status: Offline Points: 21384 |
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I was banking with Ulster Bank. However, I'm self employed so I had to send them on my tax returns and revenue forms, so I basically had to give them the same as I'd have had to give to anyone else. I just went with them because they had a decent fixed rate deal and it was marginally handier to go with them seeing as I already banked with them. I didn't have any savings accounts at all, just current accounts, but there was a building balance in them at least. If you have statements from the credit union, that might do the job.
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mbyrne15
Kevin Kilbane Joined: 19 Oct 2015 Status: Offline Points: 243 |
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Mortgage Broker was also very helpful, did all the leg work so i have had no interaction with the bank so far.
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Bob Hoskins
Moderator Group Joined: 29 Jul 2007 Status: Offline Points: 20175 |
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Godd luck with the move. With Management fees to be factored in, with some charging up to €2000 per year, if you're there for 30 or so years it can add up to a lot additional costs. What were your thoughts on your budget with this extra costs
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Romario 2016: And the ticket mafia gets caught! Well, four years ago I had already told the government.
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SuperDave84
Robbie Keane ooh Thomas, how could you do this to me! Joined: 26 Aug 2011 Location: Far Fungannon Status: Offline Points: 21384 |
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Got my keys today. Hurray. Hoskins: Didn't think of it that much, tbh. Sure if you own a house, you
have a garden and drive that needs looking after. Admittedly it doesn't
cost €2k a year but it is something that the management company look after, plus you have secure parking and waste included for that too. The converse is that you can't
extend an apartment, of course.
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bogball88
Liam Brady Joined: 16 May 2016 Location: Throne Status: Offline Points: 2674 |
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SD what way did you brooch the subject with the folks to ask for a few coins off them?
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