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BOI operates minimum mortgage value of 175k for FTB's in Dublin

  • 02-11-2009 11:23am
    #1
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭


    Disgraceful act to prop up a dead market and this bank took billions from the taxpayer.
    http://www.tribune.ie/news/article/2009/nov/01/first-time-buyers-offered-loans-but-theres-a-catch/

    Just look at the crazy lending terms still out there, all on 35yrs.
    Tribune wrote:
    The buyer: A 30 year old single first time buyer with a €39,000 annual income working for a private company. Savings of €12,000 and no other debt or dependents, looking for a mortgage over 35 years.

    BANK OF IRELAND
    Mortgage offered: Up to €195,000
    Income multiple: 5
    Deposit: 8%
    Open for affordable housing: Yes. But operates a 'minimum value'* €175,000 for mortgages on properties in the Dublin region and between €125,000 and €150,000 elsewhere

    AIB
    Mortgage offered: Up to €222,000
    Income multiple: Approx 5.7
    Deposit: 8%
    Open for affordable housing: No

    EBS
    Mortgage offered: Up to €220,000
    Income multiple: Approx 5.6
    Deposit: 8%
    Open for affordable housing: Yes, will loan up to 100% of price

    PERMANENT TSB
    Mortgage offered: Up to €193,000, but given previous savings history this could stretch to €215,000.
    Income multiple: Approx 4.9-5.5
    Deposit: 10%
    Open for affordable housing: No. But if the "clawback" from local council is removed this may be possible.


Comments

  • #2
    astrofool
    Registered Users, Registered Users 2 Posts: 17,164 ✭✭✭✭astrofool


    They also offer the lowest amount. BOI has been a non player in the mortgage market for some time now, I remember when getting mortage approval, they would only be willing to lend about 80% of what any other lender would.


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