The ask Bandage about mortgages thread

983

Take the money and run

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984

Use the extra as a deposit on an apartment in Uzbekistan

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985

It’s the new Bulgaria !

986

What could possibly go wrong?

987

Takes for the advice gents. No other loans and nothing on credit card. It’s not necessarily that they will giveme more than I need @mikehunt but mortgage approval amount plus savings = more than cost of house, stamp duty, sol8citor, etc. Not much 40k in the difference but I wouldn’t mind holding at least 20k as a buffer. Did a quick online calculator there and mortgage repayment difference in 20k is fuck all anyway so think that’s the way to go. Anyways early days no sale agreed yet just checking options.

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988

If you are building a house, and you disclose savings to the bank as part of your mortgage application, they make you spend the savings first before you can make your first drawdown. Shower of cunts.

989

I hear Eddie Hobbs has a few places left in Cape Verde

990

Indeed they do the cunts.

991

Not true. Not with us anyway.

992

Are you fucking serious? That’s outrageous. Is that just for a new build?

993

It’s 100% true with AIB and BOI. What bank had you?

994

Ebs

995

Folks I’ve had an offer accepted for a gaff and the estate agent has emailed today asking for a few things one of which is a “booking deposit” of 10 grand. Never heard of this before, is this a normal thing?

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996

Yes it is. Absolutely standard. You’ll get it back if you don’t sign a contract. Otherwise it will become part of the 10% contract deposit.

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997

Oh and best of luck.

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998

yeah,

It count towards the purchase price.

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999

congrats mate

welcome to Fingal

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1000

Yep. I only had to pay 5k on mine but it was a new build. My parents went sale agreed (thank fuck) a few weeks ago and they’d to get the 8k over in a day. Panic ensued as they’d never done an online transfer in the past, but the auctioneers were fine with a cheque

Congrats by the way @Horsebox

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1001
1002

Ya it’s standard and not in anyway legally binding. You can pull out of the sale anytime you want and get it back. It’s a pointless charade really to show you are actually serious

1 Like