We are there to help even after you have the keys in your hands. Our aim is to ensure you will always remember with a smile your experience of buying a Glenveagh Home. We hope you find this guide useful and are happy to answer any queries you may have.
- from the Glenveagh Sales Team
You should be finished probation and ideally working continuously in a permanent role for at least 6 months
Have savings – even if you are getting help with the deposit you must show the capacity to save.
Have a healthy current account and stay out of your overdraft. Your records will be scrutinised for a minimumof 6 months.
Minimise loans and other debts. Any existing loan facility will come off your disposable income for mortgage calculation purposes.
Register for Help To Buy.
Pay rent by standing order. This is important because it gives traceable account of how money is used
Have a positive credit rating. It is assessed over two years (at least). Any missed payments or defaults on previous loans, credit cards or any court judgments will stand against you. Find out your rating in advance with icb.ie.
You should also have enough money to pay the deposit on your new home and any legal fees. The deposit amount required to purchase a new home is between 10% and 20% of the purchase price.
Have patience. Getting a mortgage may take three to six months.
Before you start your search, you will have certain criteria in mind such as:
How close would you like to live to work & family?
What are your monthly repayments going to be?
What amenities (schools, shops etc) are in the area? What amenities are most important to you?
How good are the public transport links?
You might need to compromise as you may not be able to tick all of your boxes!
You will need to appoint a Solicitor to manage your conveyancing and to communicate with Glenveagh’s Solicitor on your behalf. Your Solicitor will be your main point of contact for any queries you may have.
Once you have found the house you wish to purchase, you will pay a booking deposit (typically €3,000) to Glenveagh’s Solicitor via electronic transfer. This booking deposit is fully refundable until signing of contracts.
At this stage, you should notify your lending institution and Solicitor of your purchase.
You will need to provide your personal contact details and your Solicitor’s details to the Sales Agent in order to progress the purchase.
Once you have paid your deposit and reserved your home, Glenveagh’s Solicitor will send contracts to your Solicitor for signature.
Within this 21-day timeframe, your Solicitor will engage with Glenveagh’s Solicitor regarding any pre-contract enquiries you may have. These must be signed off within 21 days of issue
Once any queries are resolved, you should make an appointment with your Solicitor to sign your contracts. Here you will be required to pay 1the balance of your deposit. The balance outstanding is payable when the sale closes.
Once contracts are exchanged by you and Glenveagh, the sale of the property is legally binding.
Keep in touch with the Sales Agent and your Solicitor throughout the process to stay informed on any updates and your completion date. Be aware that you may need an extension on your mortgage approval if there are any delays.
Glenveagh will look after all relevant paperwork. (BCAR certification, BER certificate, Homebond etc).
Once your property has been completed, Glenveagh’s Solicitor will issue a completion notice to your Solicitor and you will be invited to snag your new home. You may engage a surveyor to carry this out or you can do it yourself.
At this stage you should contact your lending institution requesting them to draw down funds. This could take approx. 5 days. You should also ensure that you have life assurance in place.
Glenveagh will carry out any snag work and once you have re-inspected the property and are satisfied to sign off, Solicitors will agree a closing date.
On closing, you will be contacted by a member of the Glenveagh team to arrange collection of your keys