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Mortgage approval

  • 22-11-2014 6:23pm
    #1
    dan.inc
    Registered Users, Registered Users 2 Posts: 17 ✭


    Hi folks

    Just wondering which bank would be the easiest for mortgage approval?

    Currently have approval from BOI for 300k but really need 390k.

    Is there much point applying to others or do they all really come back with the same amount?

    Sorry for such a general question, but if anyone has any insights from experiences that would be great.

    Thanks. Dan
    Tagged:


Comments

  • #2
    braddun
    Banned (with Prison Access) Posts: 1,221 ✭✭✭braddun


    soon you will need 20% deposit


  • #3
    dan.inc
    Registered Users, Registered Users 2 Posts: 17 ✭dan.inc


    Ps... I currently have the 10% through equity on my current home. If the 20% comes in I'm finished :-(


  • #4
    Trish56
    Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭Trish56


    All the lenders differ in criteria and policy and I find BOI the most conservative so I think you should have no problem in getting 390k with another lender. You should also take into consideration also that AIB, Haven and EBS have all reduced their interest rates and are now the most competitive in the market.

    Once you have an AIP (approval in principal) before 31st December you will not be required to have 20% deposit. Also Central Bank has indicated that they will accept an Indemnity Bond to cover the extra 10%.


  • #5
    dan.inc
    Registered Users, Registered Users 2 Posts: 17 ✭dan.inc


    Trish,

    Thanks a million for the reply! Started trying the others today so fingers crossed.

    Dan


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