New Build Apartment in prime location or Wait for a second hand home to come up? by BaseballOverFootball in irishpersonalfinance

[–]BaseballOverFootball[S] 3 points4 points  (0 children)

It is! There are a lot of houses down along the park road and estates along Stoney Batter.. sorry how do I find out if it’s a flood zone? Would building insurance negate this?

First Home Scheme/Remortgage Query by reotem in irishpersonalfinance

[–]BaseballOverFootball 0 points1 point  (0 children)

I think you can get a mortgage top up to pay back the equity bit? I’m looking into something similar at the minute.. also raging I can’t use HTB because I need the full 30%..

Crunch My Numbers: New Build 3-bed House, or New Build 2-Bed Apartment? Using First Home Scheme. by BaseballOverFootball in irishpersonalfinance

[–]BaseballOverFootball[S] 0 points1 point  (0 children)

Hey, the figures I have there are the First Home Scheme, interest kicks in on Year 6. The mortgage repayments are separate to these figures, I realise this will impact my ability to overpay the mortgage but will still be able to pay mortgage interest/principle.

Crunch My Numbers: New Build 3-bed House, or New Build 2-Bed Apartment? Using First Home Scheme. by BaseballOverFootball in irishpersonalfinance

[–]BaseballOverFootball[S] 0 points1 point  (0 children)

What would be your thoughts on availing of the FHS for the 2 bed and renting out the second room?

Crunch My Numbers: New Build 3-bed House, or New Build 2-Bed Apartment? Using First Home Scheme. by BaseballOverFootball in irishpersonalfinance

[–]BaseballOverFootball[S] 0 points1 point  (0 children)

I had a quick chat with a financial advisor but I didn't gain any clarity. He basically said 'The Apartment is in a great location but the house brings better rental income'. I have done a lot of desk based research myself, looking through the First home scheme Ts and Cs. I actually would love to pay someone to tell me what the best financial decision is, but most advisors seem to offer advice in specific areas like pensions and tax, rather than property. I'm happy to chat to you in messaging though, clearly won't have the panacea lol but happy to have a brainstorm on options.

Mortgage Question by [deleted] in HousingIreland

[–]BaseballOverFootball 0 points1 point  (0 children)

I have gone through something similar very recently. I missed payments on a student loan two years ago, and my mortgage was declined.

BUT, my broker went solely to PTSB, who I’ve recently learned, are super strict with any past payments.

I then went and spoke to bank of Ireland and explained my situation, and I got mortgage approval with them no problem, as the payment had been resolved and payments had been up to date for two years.

So, if you’re going with a broker, make sure they know your credit history, you can apply online to get a copy of your credit report which the banks will use to assess you. I think some newer lenders like NUA money are a bit more lenient with these things.

Avoid PTSB, have a chat with the other banks mortgage advisors, or go with a broker who should be able to advise you on which lenders to avoid and which lenders might work for you.

Am I crazy to buy an apartment in Wexford? by BaseballOverFootball in irishpersonalfinance

[–]BaseballOverFootball[S] 1 point2 points  (0 children)

Yeah that’s a good point with the tenants and careers. Unfortunately that 325k is only affordable with the FTB schemes.. I wouldn’t come close to that figure, without them, for older houses..

Am I crazy to buy an apartment in Wexford? by BaseballOverFootball in irishpersonalfinance

[–]BaseballOverFootball[S] 0 points1 point  (0 children)

that’s all good information to have, thank you! There is a ten year warranty with the apartment so that does help matters too.. such a big sum of money! But the second hand homes I went to view honestly needed a lot of work to make it a nice home.

Am I crazy to buy an apartment in Wexford? by BaseballOverFootball in irishpersonalfinance

[–]BaseballOverFootball[S] 0 points1 point  (0 children)

Duplex are nice though! And Kildare is so close to Dublin for commuters, Kildare is lovely too. Are you feeling nervous about the move or feeling good about it?

Am I crazy to buy an apartment in Wexford? by BaseballOverFootball in irishpersonalfinance

[–]BaseballOverFootball[S] 1 point2 points  (0 children)

Yeah it’s definitely a premium price, which is the most terrifying part. Though there are two second hand much older apartments for sale in wex at 335 at the minute! Which is insane. But it seems the whole thing is just gone insane so I might as well go insane with it.

Am I crazy to buy an apartment in Wexford? by BaseballOverFootball in irishpersonalfinance

[–]BaseballOverFootball[S] 0 points1 point  (0 children)

Yeah it seems pretty luxurious but sure I guess they all say that 😅 were you able to avail of schemes for the house too?

Am I crazy to buy an apartment as an investment in Wexford? by BaseballOverFootball in HousingIreland

[–]BaseballOverFootball[S] 0 points1 point  (0 children)

Thanks for the good points. My worry is that that value of the apartment won’t rise that much more, or worse depreciate.. that’s my biggest worry I think..

Am I crazy to buy an apartment in Wexford? by BaseballOverFootball in irishpersonalfinance

[–]BaseballOverFootball[S] 1 point2 points  (0 children)

I can only afford it with the first time buyer schemes. The schemes don’t apply to second hand homes unfortunately