Disability allowance and future loans

leimmxvii

I am eligible to received disability allowance but I am reluctant to apply out of concern that I may not be allowed to take out a loan from banks (such as BOI) in the future if they see I was receiving disability allowance previously by looking at my statements.

In other words, could I be refused taking out a loan in the future, such as a mortgage, if the bank sees I had been receiving disability allowance for my disability (chronic mental illness) ?

Damian F

Sure just get it paid in cash at the post office and the bank won't have to know

Gatling

That would entirely down to the banks lending criteria , couldn't see many banks giving out mortgages on an income of €200 pw

leimmxvii

Gatling wrote: »

That would entirely down to the banks lending criteria , couldn't see many banks giving out mortgages on an income of €200 pw

I understand where you're coming from there. But I am a young adult now and hope to have a career of my own in the next 4/5 years with the intention of coming off DA when I am ready and able to work full time.

Forge83

A bank only looks for recent bank statements. Historic statements won’t be taken into account.

Gatling

leimmxvii wrote: »

I understand where you're coming from there. But I am a young adult now and hope to have a career of my own in the next 4/5 years with the intention of coming off DA when I am ready and able to work full time.

You do know there is no qualificating medical conditions that guarantees you would actually get DA it's absolutely one of the more difficult payments to get too ,

lughildanach

Gatling wrote: »

You do know there is no qualificating medical conditions that guarantees you would actually get DA it's absolutely one of the more difficult payments to get too ,

The medical test is that you have to show that you are substantially restricted from undertaking employment which you would otherwise be able to do given your age, qualifications and experience.



Disability is much easier to get than, for example, Invalidity Pension, which requires that you are not capable of doing any category of work.

Gatling

lughildanach wrote: »

Disability is much easier to get than, for example, Invalidity Pension,

Speaking from direct experience it's very difficult to get an many get refused and forced to make multiple applications despite having multiple medical reports from consultants

SourSessions

I know of people who have gotten credit union loans on disability allowance but small ones. No idea about mortgages.