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Mortgage approval without CID

  • 21-08-2014 01:17PM
    #1
    speedycow
    Registered Users, Registered Users 2 Posts: 23 ✭


    I'm not sure this is the forum for this question.
    I was just wondering if any teachers out there have gotten approved for a mortgage without having a CID contract? I have my own hours but no CID as yet. Will a bank consider me or is it an exercise in futility?
    Many thanks!


Comments

  • #2
    Benicetomonty
    Registered Users, Registered Users 2 Posts: 1,632 ✭✭✭Benicetomonty


    speedycow wrote: »
    I'm not sure this is the forum for this question.
    I was just wondering if any teachers out there have gotten approved for a mortgage without having a CID contract? I have my own hours but no CID as yet. Will a bank consider me or is it an exercise in futility?
    Many thanks!

    Better half and I are both teachers; we went in to Bank of Ireland 2 years ago when neither of us had cids to see was there any chance and there wasnt. Might be different if you have serious savings but doubt it. Good luck anyway!


  • #3
    Millem
    Registered Users, Registered Users 2 Posts: 7,729 ✭✭✭Millem


    speedycow wrote: »
    I'm not sure this is the forum for this question.
    I was just wondering if any teachers out there have gotten approved for a mortgage without having a CID contract? I have my own hours but no CID as yet. Will a bank consider me or is it an exercise in futility?
    Many thanks!

    Our broker said unless you are permanent or CID there is no chance.


  • #4
    TheDriver
    Registered Users, Registered Users 2 Posts: 12,710 ✭✭✭✭TheDriver


    I would think not a hope, even "guaranteed a CID" isn't a CID until its on paper. I am pleased though the banks have gone like this as they lent to people using dole as collateral.....


  • #5
    mirrorwall14
    Closed Accounts Posts: 6,751 ✭✭✭mirrorwall14


    CID on part time hours only counts for the percentage of salary that is CID'd too. Sucks


  • #6
    Kalimera
    Registered Users, Registered Users 2 Posts: 50 ✭✭Kalimera


    I have provided staff with letters regarding RPT status, especially in year 2+, and from this they have been approved for mortgages. This has worked for at least three staff over the last 18 months.


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  • #7
    Millem
    Registered Users, Registered Users 2 Posts: 7,729 ✭✭✭Millem


    Kalimera wrote: »
    I have provided staff with letters regarding RPT status, especially in year 2+, and from this they have been approved for mortgages. This has worked for at least three staff over the last 18 months.

    I would love to know the banks.


  • #8
    Kalimera
    Registered Users, Registered Users 2 Posts: 50 ✭✭Kalimera


    At least one was through a broker. I will check with the staff next week and post.


  • #9
    Millem
    Registered Users, Registered Users 2 Posts: 7,729 ✭✭✭Millem


    Kalimera wrote: »
    At least one was through a broker. I will check with the staff next week and post.

    Thanks. The only thing I was thinking is if it was a joint application and they didn't need the teacher's salary for mortgage? Apparently it is not usual policy but can be done.

    I found the banks really strict, they wouldn't take S and S money as bonus income for me 2 years ago but included it for my friend in the boom days.

    One teacher (who has no CID) in my own school told me they couldn't even get a car loan.


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