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Are AIB very slow with mortgage approval?

  • 22-06-2009 9:46pm
    #1
    Ex Flex Member
    Closed Accounts Posts: 19 ✭


    Hi all

    Are AIB very slow with mortgage approval?

    applied to BOI and AIB 1 month ago, at same time, using a broker , provided same paperwork etc

    2 weeks later, BOI approved, but still nothing from AIB , over a month now.

    Broker said that AIB have told him that they are weeks behind on paperwork.

    is this typical of AIB ?
    thanks


Comments

  • #2
    Senna
    Registered Users, Registered Users 2 Posts: 8,800 ✭✭✭Senna


    If you go in and get a meeting in AIB they can give approval in principle (nor not) straight away, just from the details you give them. If you do get approval you need to submit the forms, P60, 3 months wage slips etc and they will have a decision in less than a week.
    I wouldn't listen to a broker saying they are backed up, their not that busy.


  • #3
    leonardjos
    Closed Accounts Posts: 102 ✭✭leonardjos


    I applied for approval from both about 6 months back too. I still haven't heard anything from AIB, whereas Bank of Ireland sent out an approval letter in about 3 weeks.


  • #4
    Soontobewed
    Closed Accounts Posts: 15 ✭Soontobewed


    Well its a strange one

    we sent all the necessary paperwork (p60/salary slips/savings docs/etc etc ) to both at the same time(mid may) and BOI replied after 2 weeks but nothing from AIB and its now over a month.

    I applied to both in Jan at the same time and both replied pretty much at the same time , both giving MAIP except it was dependent on the GF being made permanent (she was 2 months into her probationary period) .

    just wondering why AIB are now taking so long to do it?

    thanks anyhow


  • #5
    cyrusdvirus
    Closed Accounts Posts: 3,752 ✭✭✭cyrusdvirus


    i had the same, through broker and dealing direct.

    again, BOI were much quicker off the mark.


  • #6
    astrofool
    Registered Users, Registered Users 2 Posts: 17,160 ✭✭✭✭astrofool


    I'd guess that a lot of the staff that worked in mortgages have been let go, or moved to a different department, such that, if there is any rise in mortgage activity, the entire department will get behind.

    Added to that, they will be doing a lot more stringent checks on the applicants than before.


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  • #7
    havana
    Registered Users, Registered Users 2 Posts: 754 ✭✭✭havana


    I don't think its that banks have alot of applications to process, its the fact that they are going over each one with a fine tooth comb. That was my experience anyway- it took a couple of months to finally get approved.


  • #8
    Caza
    Closed Accounts Posts: 30 ✭Caza


    hi just went into aib and had approval in principle the next day!


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