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Credit Union Loans/Mortgages

Kangaroopoo · 2005-04-05 11:53:24

Hi I have bought an partment in Kilmainham, I've paid the first bit of the deposit and the balance is due in November, I was planning on borrowing the balance from the Credit Union. But now I've heard that the credit union are going on the credit data base meaning my CU loan will show up on a credit check, which my bank…

05-04-2005 11:53am

#1

Kangaroopoo

Closed Accounts Posts: 37 ✭

Join Date: March 2005

Posts: 22

Hi

I have bought an partment in Kilmainham, I've paid the first bit of the deposit and the balance is due in November, I was planning on borrowing the balance from the Credit Union. But now I've heard that the credit union are going on the credit data base meaning my CU loan will show up on a credit check, which my bank will do when I go for my mortage. I'm rightly screwed if this happens as I simply won't get a mortgage with a CU loan and don't have the deposit without the loan - agghh - anyone know what the story is???

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Comments

#2 05-04-2005 4:42pm

Victor

Registered Users, Registered Users 2 Posts: 78,580 ✭✭✭✭

Join Date: December 2000

Posts: 68941

Start saving! In any case you would have effectively been making a false declaration to the bank so you don't deserve anything.

You might be happy to know that the banks **might** be considering a loosening of the deposit %, because of the changes to stamp duty.

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