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KBC Mortgage Exception 2019

  • 09-06-2019 3:14pm
    #1
    Registered Users Posts: 20 ✭✭✭ Spartacus91


    Hi I’m just wondering if anyone has had a mortgage exception from KBC? How likely are they to give an exception of about 4.1 times our salary?

    Thanks


Comments

  • Registered Users Posts: 1,257 ✭✭✭ Trish56


    Impossible to give an idea as it would depend on your application and what your earnings, dependents, age, other loans are and if you are applying directly or through a broker.

    Hi I’m just wondering if anyone has had a mortgage exception from KBC? How likely are they to give an exception of about 4.1 times our salary?

    Thanks


  • Registered Users Posts: 20 ✭✭✭ Spartacus91


    Trish56 wrote: »
    Impossible to give an idea as it would depend on your application and what your earnings, dependents, age, other loans are and if you are applying directly or through a broker.

    Hi Trish,

    Thanks for your response, we have no dependants we are earning 73k both public servants.. one small loan 150 per month which can be paid off if necessary.. we are going through a broker and have a good credit history we are in our 20s

    Any assistance would be appreciated,

    Don


  • Registered Users Posts: 20 ✭✭✭ Spartacus91


    Trish56 wrote: »
    Impossible to give an idea as it would depend on your application and what your earnings, dependents, age, other loans are and if you are applying directly or through a broker.

    Hi Trish,

    Thanks for your response, we have no dependants we are earning 73k both public servants.. one small loan 150 per month which can be paid off if necessary.. we are going through a broker and have a good credit history we are in our 20s

    Any assistance would be appreciated,

    Don


  • Registered Users Posts: 1,257 ✭✭✭ Trish56


    Lenders are allowed to grant exceptions on loan to income on up to 20% of the value of their total mortgage lending in any one year. All lenders manage how they allocate this differently and last year it was hard to get an exception with some lenders after July while other lenders try and manage the allocation on a monthly basis.

    Regarding brokers in my experience lenders seem to manage exceptions with regard to the volume of business the broker give them and if they already have been granted exceptions so your broker probably needs to check with his/her relationship manager to see if they first of all qualify for an exception.

    Hope the above makes sense. Any reason why you are going with KBC in particular?


  • Registered Users Posts: 20 ✭✭✭ Spartacus91


    Trish56 wrote: »
    Lenders are allowed to grant exceptions on loan to income on up to 20% of the value of their total mortgage lending in any one year. All lenders manage how they allocate this differently and last year it was hard to get an exception with some lenders after July while other lenders try and manage the allocation on a monthly basis.

    Regarding brokers in my experience lenders seem to manage exceptions with regard to the volume of business the broker give them and if they already have been granted exceptions so your broker probably needs to check with his/her relationship manager to see if they first of all qualify for an exception.

    Hope the above makes sense. Any reason why you are going with KBC in particular?


    Thanks for that Trish. Interesting what you say about broker relationship with bank I will check that out..

    I had applied for an exception through PTSB but we got refused as apparently we were off by 1% whatever that means but they had indicated that we were eligible originally when we had met with the bank.

    Reason I’m applying with KBC as I was advised that they would consider an exception whereas other banks are more difficult to get them with. Not sure how true that is but we will see


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  • Registered Users Posts: 78 ✭✭ Idonotknow


    Hi, just wondering how your application went? I sort of got an exception with them and am trying to see how likely they are to follow through!

    I was in the branch and the mortgage advisor said we would get an exception but her regional manager would need to approve this before sending it to the credit team.

    And that’s how far we have gotten!


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