I am currently renting but considering taking the plunge and buying. I've been doing a lot of research but am still a newbie - apologies if the questions are very basic.
I am looking at Ulster Bank Mortgage and have an agreement in principle letter. Judging by the information required to get it I don't think it means much. I'm keeping an eye on houses/apartments going up for sale at the moment so don't have one in mind yet. Can I make any further progress with the mortgage application before I know which property I will be purchasing?
Also, as part of my job I get shares every 3 months. Can I count these towards income for the 3.5x allowance?
One thing I want to make sure is I have all the costs accounted for -v- renting.
Costs related to purchasing:
Stamp Duty 1%
Legal Fees (Ulster bank will contribute €1,500) €2,000
Valuation €150
Additional costs compared to renting:
Management Fees
Local Property Tax
Mortgage Protection
Building Insurance (Instead of just content insurance)
Are there any costs I am missing?
I am looking at Ulster Bank Mortgage and have an agreement in principle letter. Judging by the information required to get it I don't think it means much. I'm keeping an eye on houses/apartments going up for sale at the moment so don't have one in mind yet. Can I make any further progress with the mortgage application before I know which property I will be purchasing?
Also, as part of my job I get shares every 3 months. Can I count these towards income for the 3.5x allowance?
One thing I want to make sure is I have all the costs accounted for -v- renting.
Costs related to purchasing:
Stamp Duty 1%
Legal Fees (Ulster bank will contribute €1,500) €2,000
Valuation €150
Additional costs compared to renting:
Management Fees
Local Property Tax
Mortgage Protection
Building Insurance (Instead of just content insurance)
Are there any costs I am missing?
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