Topic: Mortgages July 9, 2018
Author: Neil Cubley

Moving home when baby comes along

Bank of Ireland Mortgages


Dan, who works for Guinness, and Jenny, who works for an air conditioning company, bought an apartment 10 years ago in Adamstown in Lucan.

‘We actually bought it off the plans,’ Dan says. ‘Right in the middle of the boom. 2007 it was. But, look, we had to start somewhere. That was our first place.’

Now, life has changed.

Dan and Jenny’s first place

At the time they bought it, their first home, a 2-bedroom apartment on the first floor, suited the young couple.

A spacious apartment with a great living area, it had a 20-foot wide balcony at the back and another balcony at the front.

‘The one at the back was south-facing and we’d use it when we got the weather,’ Dan explains.

Saying goodbye to the first home

The apartment was so nice that the couple were disappointed that they had to leave it but they had always planned to buy a house.

As Dan says, ‘everyone wants a house.’ But it was an addition to the family – the arrival of their first baby, Alex – that gave them the final push to go looking for a house.

‘We were struggling up and down the stairs with the pram, car seats and everything,’ Dan says.

Movers and keepers

Although they had to move out of the apartment, they didn’t want to sell it. So they had to arrange a larger mortgage.

‘We didn’t really start looking until we got the mortgage,’ Dan explains. The mortgage was key.

Bank of Ireland Mortgages
Meeting the mobile mortgage manager

Things didn’t work out with their existing lender. ‘Somebody said go to Bank of Ireland,’ Dan says, ‘so I got in contact with Colm Quinn.’

Colm works as a mobile mortgage manager, in the Dublin area, for Bank of Ireland traveling to meet customers at a time and place convenient to them.

10 frequently asked first-time buyer questions answered

Everything was done at the apartment or over the phone

Colm rang Dan and Jenny and explained to the couple the information they needed to have ready.

As they had already spoken to their existing lender, they had all the paperwork to hand.

‘Colm was able to call out to the apartment,’ Dan says ‘and we went through everything with him on the spot and got it all organised from there.’

The couple went through their finances with Colm and got an idea of what they could afford.

Everything was done at the apartment or over the phone. ‘We didn’t need to go into a branch,’ Dan explains.

Looking for a home the next day

Jenny was on the internet looking for suitable houses the next day and, only a few days after meeting Colm, she and Dan started viewing them.

‘We saw a few but they were out of our price range then we saw this one.’ The couple were looking to stay in Lucan and the house they found was only 3 miles away from the apartment.

They found the house before they  got mortgage approval

‘The house is ideal,’ Dan says. ‘It’s got three beds, large south-facing back garden, lovely cul-de-sac. My brother has a house here on the same estate and my mother lives just across the park which is handy.

It turns out that I actually know two of the neighbours who live across the road. I didn’t know they lived there until we bought the place.’

Back to the moment they found their potential new home.

The house had been rented out for 10 years and was empty. Dan and Jenny had no property to sell so they could move in right away.

But, of course, this was only a few days after their first meeting with Colm so they hadn’t got their mortgage approval yet.

Bank of Ireland Mortgages
Getting approval

‘We spoke to Colm,’ Dan says, ‘got mortgage approval and managed to get the deposit down. Then it was down to the solicitors.’

They bought the property in May and they kept the apartment. Dan’s brother has moved in to the apartment ‘and he’s loving it.’

Bought but not moved in

However, even though they have left the apartment, Dan, Jenny and baby Alex haven’t moved into their new home yet as they plan to renovate the property first.

They don’t want to have a baby in the house when all the work is going on. ‘At the moment we are living in Jenny’s mother’s house,’ Dan says.

The new home has a big back garden and the couple have big plans for it.

‘We’re looking to extend back into the garden for the full width of the house creating a nice, big living room. All open plan,’ Dan explains. That’s the main structural work that needs to be done.

Designs on the future

‘Everything needs to be repainted, new carpet and everything else. We’re replacing all the windows,’ Dan says, showing me the room that will be Alex’s bedroom and the master bedroom and en suite which we ripped out and replaced.

But when it comes to design, Jenny will decide on the decoration and is testing out different shades of grey paint on the walls.

‘I’ll probably go grey again for the upstairs,’ she says. ‘Things need updating but it’s all there.’

Bank of Ireland Mortgages
‘We’re planning to stay’

‘The apartment suited us,’ Dan says, ‘when it there was only two of us, but now it doesn’t. New stage of life. This is it, the family home.

We’re planning to stay here.’

Find out more

At Bank of Ireland we’re determined to make the mortgage process as easy as possible. We’re here to help you every step of the way. Find out more.

All efforts were made to ensure that the information in this article was accurate at the time of original publication. The content of this article do not constitute financial advice.

Bank of Ireland is regulated by the Central Bank of Ireland.

Dan and Jenny received a small gratuity for their time spent sharing their story.
Topic: Mortgages July 9, 2018
Author: Neil Cubley
Tags: Moving home

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