Deposit

lollops

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Messages
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Ok, so I've just put my holding deposit of 3000 down with DCC. Do I need to save another deposit for the mortgage?

Like...does the bank give u 100%, or what is it?
I thought the 3000 was it but someone said otherwise??
 
Ok, so I've just put my holding deposit of 3000 down with DCC. Do I need to save another deposit for the mortgage?
You mean you put a deposit down without first understanding how much more you would need to stump up and how much you would need to borrow!?!
Like...does the bank give u 100%, or what is it?
Don't think too many lenders are offering 100% these days. In which case the previous norm of 90-92% probably applies and you need to stump up the rest (plus any additional costs such as legal fees etc.).
 
The aul 100% mortgage was a bit of a gimmick to be honest and think it might have only worked for people on mega bucks. When we were applying for our mortgage bank would give us 320k on 100% motgage but yet on 92% mortgage they gave us 380k.
 
97%...thats cool, thats kind of what I had in mind. so I'd need to get 3% myself. Cheers.
 
The aul 100% mortgage was a bit of a gimmick to be honest and think it might have only worked for people on mega bucks. When we were applying for our mortgage bank would give us 320k on 100% motgage but yet on 92% mortgage they gave us 380k.

Shes talking about Affordable housing mortgage though.

Yes i got 100% of purchase price last month last month. If you can secure 100% finance with EBS or First Active you will be refunded your 3k deposit.
 
when does the deposit have to be paid. i have accepted the house, mortgage and assurance etc sorted. just waiting on the council and solictiors to get moving.
Hasnt even been mentioned yet about paying the 7000 deposit