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Mortgage query and declined direct debit

  • 04-02-2023 10:07pm
    #1
    Nat2178
    Registered Users, Registered Users 2 Posts: 2 ✭


    Hi,

    I own a house and have a mortgage with AIB which is always paid on time. A great house has come up on the market and myself and my husband have applied for a mortgage. He has really regular savings and his account looks in great order. I pay the mortgage and bills as the house is mine so understandably I have much less savings. We have a good deposit and will make a good profit off my place when we sell leaving us with approx 200,000.


    Problem is we are applying for a mortgage quite unexpectedly so I haven’t kept my account in tip top order the last six months {the way I would if I knew we would be applying for a mortgage}. The one issue I think the banks might have is an unpaid direct debit that has bounced 5 out of the last 6 months for a part time course I do. I always pay for the course a few days later but I hadn’t managed my accounts adequately to transfer money from another account in time for the direct debit that is taken out. This is no issue with the course I am doing and I am up to date with payments. I am aware that the bank may view it differently?


    Despite all the positives above, will this massively go against us?


    thoughts appreciated



Comments

  • #2
    listermint
    Registered Users, Registered Users 2 Posts: 34,216 ✭✭✭✭listermint


    See what the bank say and explain it to them. If you have the money elsewhere they'll see that in those accounts too.

    It's done now so you can't go back in time. Just plough on with application and answer honestly.



  • #3
    walterking
    Registered Users, Registered Users 2 Posts: 1,297 ✭✭✭walterking


    Those bounces cost you about €20 every time too.


    It will be seen as a red flag if you apply to the same bank.


    I'd avoid applying to that Bank.



  • #4
    Nat2178
    Registered Users, Registered Users 2 Posts: 2 ✭Nat2178


    I should clarify... the direct debits for the part time course that bounce are to the college (its not a loan from a bank).. not sure if this will make a difference. I could have paid the college per year or monthly by direct debit ...i chose to pay monthly by direct debit


    I have applied for a mortgage to AIB again as I have a good track record for making the mortgage repayments with them



  • #5
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,856 Mod ✭✭✭✭Henry Ford III


    You'll just have to wait and see what their decision is.



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