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Mortgage Approval & Drawdown stalled by Covid Payment

  • 13-08-2020 9:20am
    #1
    beauf
    Closed Accounts Posts: 22,648 ✭✭✭✭


    Just wondering have many had their mortgage approval or draw down, stalled because of receiving some form of Covid Payment. If so which bank is it.


Comments

  • #2
    hi!
    Registered Users, Registered Users 2 Posts: 130 ✭✭hi!


    beauf wrote: »
    Just wondering have many had their mortgage approval or draw down, stalled because of receiving some form of Covid Payment. If so which bank is it.

    All of them. From what I can see on this site and Facebook, banks aren’t drawing down if on Covid payment & then they want 3 months of payslips when off of it


  • #3
    beauf
    Closed Accounts Posts: 22,648 ✭✭✭✭beauf


    I don't think its all of them.

    https://www.thejournal.ie/aib-mortgage-approval-wage-subsidy-recipients-5138732-Jul2020/

    But it would be useful to know if anyone with a covid payment, has managed to get a draw down recently. or have them just been refused point blank.


  • #4
    mojesius
    Registered Users, Registered Users 2 Posts: 4,378 ✭✭✭mojesius


    We have our loan offer letter from PTSB. One of the conditions to draw down stated is that our most recent payslips show no evidence of Covid benefit payment.


  • #5
    Aelun
    Registered Users, Registered Users 2 Posts: 42 ✭Aelun


    Does anyone know how many payslips UB need without the Covid Benefit. I'm coming off the subsidy this month and hoping to drawdown a few days after i get the 1st payslip without it.


  • #6
    cubatahavana
    Registered Users, Registered Users 2 Posts: 991 ✭✭✭cubatahavana


    AFAIK KCB is approving loans and drawdowns for people with the TWSS


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  • #7
    LauraAaron
    Registered Users, Registered Users 2 Posts: 106 ✭✭LauraAaron


    We’ve been at the last hurdle for months bank won’t draw down due to husband being in hospitality we’re awaiting the final decision tomorrow as the vendor is pulling out so fingers crossed for then x


  • #8
    McPacher
    Registered Users, Registered Users 2 Posts: 8 ✭McPacher


    I can confirm PTSB is tough on covid payments. You need to have clean full salary last 3 months and a written confirmation from your employer that you're in good standing, company doing well and not anticipating to release you due to covid


  • #9
    cubatahavana
    Registered Users, Registered Users 2 Posts: 991 ✭✭✭cubatahavana


    LauraAaron wrote: »
    We’ve been at the last hurdle for months bank won’t draw down due to husband being in hospitality we’re awaiting the final decision tomorrow as the vendor is pulling out so fingers crossed for then x

    All the best


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