How long does upfront deposit for 100% PTSB mortgage take to arrive?

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NineMoons

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If this is answered elsewhere, I can't find it - searching has been disabled and the google search of AAM also told me searching had been disabled when I followed the link. :confused: Anyway, apologies.

Beloved and I have booking deposit on a house in a new development costing 300k. It's not due for completion til September or later.

We are due to close on the 28th of June and are having our contract-signing meeting with the solicitor on Friday the 23rd of June.

We are getting a 100% PTSB mortgage with an upfront 10% deposit. We got the paperwork from PTSB a while back but due to being away and having hellish 11 hour days at work recently, we haven't filled them out yet. Which is very very very stupid - I'm all aware of that! :eek:

What I want to know is - is getting the deposit from the mortgage provider normally just a matter of filling out forms and bam bam bam a few days later we have a cheque? Or is it likely to be more problematic than that?

Anybody's experiences appreciated!
 
Re: How long does upfront deposit take to arrive?

Hello NineMoons, myself and my boyfriend are in a similar position - we are getting 100% mortgage from PTSB, the bank paperwork is with the solicitor and were getting a cheque for the 10% - we have signed an agreement to take the loan over 60 months etc etc.. or basically until the sale is drawn down and the loan is closed off.

We sent the paperwork back and the docs I received after that indicated we have to sign contracts in front of solicitor who sends them back to PTSB and they issue the contract deposit to the solicitor - this is whats happening in our case anyway. Hope this helps!
 
Hi There

we have gone through the same but for a different bank First Active on 100% , the 10% check will arrive in 1 week ASAP after you lawyer has requested it , but we are suffering from not good markatable deed to the property, pls read my post about deeds without folio numbers. PLEASE ensure you demand the information that the deeds are registered with a folio number on the current Vendors before the 10% , as otherewise you will be paying interest on the 10% for a very long time with no access/progress to the property, I wish you luck - from another FTB on 100% mortgage -Golwayguy
 
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