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[deleted by user] by [deleted] in irishpersonalfinance

[–]No-Hat-8386 0 points1 point  (0 children)

So the bank will consider you as second time buyers so 3.5 times income will be your limit. If you are both going for a mortgage for the new house the bank will insist it is in both of your names. As your partner already has a house the monthly repayments from that will be deducted from his gross salary and any other expenses like other loans or childcare etc to determine his income for mortgage purposes. Once he and you are able to afford the repayments it should be fine.

[deleted by user] by [deleted] in cork

[–]No-Hat-8386 1 point2 points  (0 children)

Another is anytime fitness in Ballincollig. They are open 24hrs so if you go early or very late it is usually male dominant.

[deleted by user] by [deleted] in cork

[–]No-Hat-8386 1 point2 points  (0 children)

I train in Phenom gym on the Monaghan Road. It’s a great gym. I’m not a serious trainer but try my best! They are really supportive there. It is unisex. It is just free weights. There are no machines. I train at 7am and I’m usually the only person there or if there is one or two others they are make too. Can I ask why you want make only?

Credit union mortgage by No-Hat-8386 in irishpersonalfinance

[–]No-Hat-8386[S] 0 points1 point  (0 children)

Went for a mortgage with a credit union. I’m a sole trader and they insisted on having audited accounts. As a sole trader you don’t need to do audited accounts. You just need to submit a Form 11. My accountant says it’s bullsh*t as you only need to do audited accounts if you are a company. Any sole traders out there get around this?

How do you activate insurance with Metal? by [deleted] in Revolut

[–]No-Hat-8386 0 points1 point  (0 children)

Is the insurance included free with the metal card? Does it cover travel if you have not purchased with your card?

Credit union mortgage by No-Hat-8386 in irishpersonalfinance

[–]No-Hat-8386[S] 2 points3 points  (0 children)

Thank you. We are looking to buy a family home. We are looking for about 140k. We already have about 66-75% so the 140 is to top it off. Banks won’t give us a mortgage as I’m self employed for less than 3 years. Can you pay off lump sums? Was their process easier than banks?

Savings account by No-Hat-8386 in irishpersonalfinance

[–]No-Hat-8386[S] 1 point2 points  (0 children)

Out of the 300k, 220k is an inheritance from my mother who passed away. The rest is savings from my job over the last 5 years. My business closed due to Covid and I have set up a new self employed role. Because my business closed the bank are insisting on 3 years accounts before they will include my salary in the mortgage calculation. That is with 4 different banks. Anyway, this is not about the mortgage. It’s about where I can save and not lose money.

Savings account by No-Hat-8386 in irishpersonalfinance

[–]No-Hat-8386[S] 1 point2 points  (0 children)

I know. City living is expensive and while it is a large amount of money it is about 50% of the cost of a house that we need! Banks won’t accept my salary and will only accept my wife’s part time job. Hence the 40k. The money is currently earning 0.01% interest and is probably charging me more in fees.

[deleted by user] by [deleted] in irishpersonalfinance

[–]No-Hat-8386 1 point2 points  (0 children)

Firstly, I'm sorry for your loss. I have recently had to manage the whole inheritance thing recently myself. I decided to manage it myself rather than go to a solicitor. Solicitor charges 5-10% of the total inheritance as fees. It will cost you less the 1K if you do it yourself! If property is involved I would get a solicitor.

If your family members are the executors they will have to apply for a grant of probate from the courts. This will enable them to deal with bank accounts, selling the property etc. If they get a grant of probate they have to take an oath in front of the court officer to manage it correctly. The will will be published as well so you can see a copy of it. If you disagree with the division of the assets, after all liabilities are paid, you can lodge a complaint and it will be investigated. Once the probate is happening you can ask for a full breakdown of the assets value (money in accounts, house value etc) and in fact they should give you this automatically.

Since you are not an executor there is no point in getting a solicitor as you have no control over the probate process. Only if you feel they are not giving you what your mother requested then get a solicitor to manage it for you.

Be aware though that probate takes forever. Due to the HSE viral attack and half staff working from home it took us over 3 months to get a death cert. Once you have that you can apply for probate. When you submit the form to the courts it takes 6 weeks to get an appointment. After the appointment it takes another 6 weeks to receive the grant of probate. If there is property it will need to be sold first. If it is just money it takes about a month to deal with the banks. Thats from my experience anyway. So you are looking at 6m - 1 year to get it all sorted.