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Missed loan payments & full mortgage approval

  • 17-05-2019 8:32am
    #1
    Lux23
    Registered Users, Registered Users 2 Posts: 7,134 ✭✭✭


    My partner and I have just received a mortgage approval in principle from Ulster Bank but the MA did say that that my ICB check came back and said "Possible Adverse ICB" and he needed to see our full reports which we supplied.

    My partner's report is clear, but I was out of work from June 2013-Feb 2015 and started to fall behind in early 2014. I made a deal with the bank to pay €40 a month, and when I started a new job in Feb 2015 I started to make weekly payments and they restructured my loan with an overdraft I had. That loan was paid off last August and I never missed, and nor would I have had any reason to.

    I explained it to the MA, he said he understood and that we would put the strongest case possible forward when moving to full application.

    Has anyone got any experience with this?

    We have a good savings record, we saved it all ourselves while paying rent, and we have no other debts or responsiblties at the moment. I am in a public sector job and my partner has a permenant job in one of the biggest companies in the country (its a huge name.)


Comments

  • #2
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,861 Mod ✭✭✭✭Henry Ford III


    I reckon that's pretty minor. Best of luck.


  • #3
    Lux23
    Registered Users, Registered Users 2 Posts: 7,134 ✭✭✭Lux23


    Henry Ford III wrote: »
    I reckon that's pretty minor. Best of luck.

    Thank you. I appreciate it.


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