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    Archived pages: 512 . Archive date: 2012-07.

  • Title: First Time Home Buyers Guide
    Descriptive info: Chapter 2: Buying a Home During the Credit Crunch.. Negatives of buying a home.. cont:.. Bigger Deposits.. In 2007, six mortgage lenders offered 100% mortgages.. The bad news for first time buyers is that these mortgages have been withdrawn, so you will need to provide a deposit.. Depending on the lender, you ll require a deposit of between 8% and 20%.. So a typical starter home costing 300,000 will require a deposit of at least 24,000 (or up to 60,000 with some.. lenders).. Saving a deposit while paying rent has always been tough but the demands for even bigger deposits will make it more difficult for many first time buyers.. Getting mortgage approval has become more difficult.. Even if you can sort out a deposit, you still need to qualify for a mortgage.. The problem is that getting a mortgage has become more difficult in the last  ...   moment, most lenders want to find a reason not to give you a loan.. They will only lend to people who are sure things.. What you need to do is to handle your money carefully and make sure you don t give the banks a reason to refuse your mortgage application.. Previous Page.. Next Page.. Contents Page.. Download the Full 127 Page Home Buyers Guide.. Search the Home Buyers Guide using Google:.. Download a Sample Chapter (free).. or instantly download the full 100+ page guide for 17.. Get a Mortgage Quote NOW.. Quotes from Mortgages Direct.. Low Cost Legal Fees.. For Home Buyers or Sellers.. 799 + vat + outlay.. House Surveys, Snags, BER.. Find a surveyor at surveyors.. ie.. Mortgage Quote.. Property Surveys.. Snag Lists.. BER Energy Ratings.. Property Guides.. Property News.. Home Buyers Guide 2009.. HOME BUYER WEBSITES:.. 2009.. Pay Per Click.. by.. PPC Ireland..

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  • Title: First Time Home Buyers Guide
    Descriptive info: Steps to take straight away:.. Protect your Credit Rating.. When you apply for a mortgage or loan, the lender does a credit search to find out if you are a good credit risk.. This credit search shows all the loans you currently have and any loans you ve had in the last 5 years.. You need to make sure you pay every monthly loan obligation on time because if you don t, it will show up on your credit report.. This gives the banks a reason to decline you.. Manage Your Current Account Properly.. Mortgage lenders will also review your current account statements, for the last 6 months (or more).. They use these accounts to build up a profile of your spending and lifestyle and your potential to repay  ...   can borrow significantly as loan payments reduce your disposable income.. For example, a 400 a month car loan could reduce the amount you would qualify for by 65,000.. Unless it s unavoidable, it s best to avoid new borrowings or at least keep them to a minimum.. Save a Deposit.. Save as big a deposit as possible.. While some lenders will accept an 8% deposit, you may be approved for a.. bigger mortgage or get a better deal if you have a bigger deposit.. Even if you are going to get a gift of the deposit from your parents, you should still save some money as this shows.. your ability to repay the mortgage.. People who regularly save money are seen as better credit risks than those who don t..

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  • Title: First Time Home Buyers Guide
    Descriptive info: Chapter 3: Money, Money, Money.. Buying a home is an expensive business, so it s important to budget for all the costs.. There are two main types of costs to consider:.. the upfront costs of buying a home.. the ongoing costs of owning a home.. Upfront Costs:.. 1.. Deposit:.. Generally speaking, mortgage lenders will advance a maximum of 80% - 92% of the purchase price, so you ll have to come up with the balance either from savings, a gift from a family member or a combination of both..  ...   Stamp Duty is a tax the government charges on buying property.. The good news for first time buyers is that if you are buying a home to live in you are exempt from paying this tax.. However, if you or your partner either currently or previously owed a property you will be liable to pay this tax.. (See the chapter on tax and tax relief for details).. 3.. Legal Fees.. Traditionally, solicitors charged a fee of 1% of the property purchase price + 21.. 5% vat + legal outlays..

    Original link path: /guides/first-time-buyers-guide-34.asp
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  • Title: First Time Home Buyers Guide
    Descriptive info: For example, if you bought a 250,000 home you would pay 2,500 + 537.. 50 in solicitor fees plus all the legal outlays.. In recent years, there has been increased competition in the market, with some solicitors now offering a discounted, flat fee service.. It is very important to shop around, as one solicitor could charge thousands of euros more than another.. ie offer low cost legal fees.. through a Dublin based legal firm  ...   fees, you will have to pay legal outlays.. Legal outlays are the legal costs associated with buying or selling a property which you pay through your solicitor.. These include land registry fees, legal searches and commissioner fees.. The actual cost will depend on the specific property, whether it s new or second hand, a house or an apartment and the contract price of the property.. You can calculate your legal outlays on the.. ie website..

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  • Title: First Time Home Buyers Guide
    Descriptive info: 5.. Estate Agent Fees:.. The good news is that there are no estate agent fees for people buying property.. You only pay estate agent fees if you are selling a home.. 6.. House Survey:.. If you are buying a second hand home, getting a survey done on the house is vital.. The surveyor will view the house and write a report for you outlining any possible flaws.. It will cost you approx.. 400 600.. Find a  ...   or 'Premier Guarantee', (which guarantees the property structure from structural problems for 10 years), a survey is not usually required.. However, it is important to get a snag list done on the property.. A snag list outlines all the little problems, or snags, that need to be rectified, before you complete the purchase, and get your keys.. The price of a snag list starts at about 200 for a 1 bed apartment to 400+ on larger houses..

    Original link path: /guides/first-time-buyers-guide-36.asp
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  • Title: First Time Home Buyers Guide
    Descriptive info: 8.. Mortgage Fees:.. Broker Fees: Varies.. Some brokers do not charge any broker fees at all but others do, so confirm with your broker before you make an application.. Mortgage Valuation Fee.. Cost: approx.. 150.. This is standard will all the lenders is required on all new and second hand homes.. Final Mortgage Valuation Fee.. Cost 65 - 70 (new homes only).. This is standard will all the lenders.. If you buy off plan, the lenders will  ...   an upfront one-off fee charged by some lenders if you borrow in excess of 70-80% of the house value, to protect them against you defaulting on the loan.. For first time buyers, some lenders will not absorb the cost of the bond, and pay it themselves but other may pass this fee onto you.. When charged, the fee can vary from hundreds to thousands of euros so make sure you find out if your lender charges it..

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  • Title: First Time Home Buyers Guide
    Descriptive info: 9.. Furnishings Fittings:.. Don't forget to allow money to furnish your property and kit it out a washing machine, dish washer, fridge etc.. One of the benefits of the current recession is that many furniture and electrical sellers are willing to negotiate on price.. Don t be afraid to ask for a big discount.. Ongoing Bills.. The main items you need to  ...   insurance.. Redundancy cover (optional).. Serious illness cover (optional).. Management Fee (on apartments some newer homes check with the estate agent for details).. These fees usually range from 1000 - 1500 or more per year.. Electricity.. Gas.. Bin collection fees.. Phone (landline mobile).. Broadband.. Cable or Sky.. TV license.. Grocery bills.. Don t forget other essentials (such as the occasional pint or restaurant meal)..

    Original link path: /guides/first-time-buyers-guide-38.asp
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  • Title: First Time Home Buyers Guide
    Descriptive info: Chapter 4: Choosing the Right Property.. Step 1: Make a wish list.. You need to decide what type of property you really want to buy and more importantly, the type of property you need.. Before you visit an estate agent, you need to narrow the options and come up with a short list of what you want.. Checklist:.. House or apartment?.. Location city, town or rural?.. Brand new home or second hand property?.. Walk in condition or a property to renovate?.. How many people will live there?.. Will you rent out spare bedrooms to help with the mortgage?.. Do  ...   Do you want a garden?.. How many bedrooms do you need?.. How many reception rooms do you want?.. How many bathrooms are needed?.. If you have kids, what are the local schools like?.. In growing suburbs, will your children be able to go to a local school at all or will they have to travel?.. What is the commute time to work?.. (Tip: before you buy, drive from the home to work at rush hour to find out how long it ll really take).. Do you need to be on a bus route, or train line, LUAS or DART?..

    Original link path: /guides/first-time-buyers-guide-40.asp
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  • Title: First Time Home Buyers Guide
    Descriptive info: Step 2: Decide if you d prefer a house or an apartment.. The first question you should ask yourself is whether you want to buy a house or an apartment.. There are pro s and con s of each.. A house was always my first choice but it s really down to your personal preference.. Things to consider if you want to buy an apartment:.. Apartments have an annual service charge or management fee to cover:.. Cleaning of common areas.. Upkeep of the garden.. Rubbish collection.. Building insurance.. Lighting of  ...   excess of 1000 - 1500 per year.. The estate agent selling the property will be able to tell you what the annual fee is.. You may need a bigger deposit than if you re buying a house.. Some lenders require home buyers to have a bigger deposit if they are buying an apartment rather than a house.. It may seem unfair, but the banks are concerned that there is a huge oversupply of apartments in Ireland at present.. As a result they believe that apartments are a bigger lending risk..

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  • Title: First Time Home Buyers Guide
    Descriptive info: Step 3: Decide if you d prefer a new or second hand property:.. There are pros and cons of buying a brand new home or an older one.. Here are a few things to consider:.. Older Properties.. Unless you re a first time buyer, you ll have to pay stamp duty on second hand properties in excess of 125,000.. There is no guarantee of structural soundness when you buy a second hand property.. In fact, even if the seller.. knows that the property has subsidence or is in need of structural work, they don t have to tell you.. Make sure you get a structural survey completed before  ...   agent for a copy of the Building Energy Rating Cert,.. which outlines how energy efficient the house is.. You may need to replace or update a lot of the fixtures and fittings.. (e.. g.. kitchen bathrooms).. Older homes suit DIY ers best.. The rooms and gardens of older homes are likely to be bigger than those built in the last decade or two.. The garden is likely to be more mature than a garden in a new home.. If the property is a listed building (i.. e.. one that is deemed to be of historic or architectural importance), you must.. seek permission before doing almost anything, even painting it..

    Original link path: /guides/first-time-buyers-guide-44.asp
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  • Title: First Time Home Buyers Guide
    Descriptive info: Brand New Homes.. While first time buyers are exempt from paying stamp duty on both new and second hand homes, non first timers aren t so lucky they have to pay stamp duty on all second hand properties costing more than 125,000.. However, they are exempt from paying stamp duty on most new homes.. So if you re not a first time buyer, buying a brand new home will reduce the upfront costs considerably.. First time buyers who are having problems getting mortgage finance from the banks, may qualify for a mortgage.. under the governments Home Choice Loan Scheme.. This scheme is only  ...   against.. structural defects for 10 years.. Houses built in recent years tend to be smaller than older homes.. Gardens tend to be smaller than gardens in older homes and they ll generally take a few years to mature.. New homes are usually in walk in condition, whereas second hand ones may require a lot of work.. Step 4:.. What to look for when viewing properties:.. Take plenty of notes about the pro's and con's of the property.. Look at the interior and exterior.. Are the gutters in good shape or are they damaged?.. Is the driveway in good condition? Is there enough parking space?..

    Original link path: /guides/first-time-buyers-guide-45.asp
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    Archived pages: 512