Pivot Eoin wrote: » Very frustrating, Been denied/deferred by KBC for AIP this morning. EBS last week. Saving 4.5k per month since October, 20% Deposit Saved, Combined Income of 115k. My business is Travel, but is domestic Travel and we've actually seen business increase in last few weeks vs. Business last year. Employer is availing of Wage Subsidy but I am on full take home pay. Not even an option of AIP subject to returning to normal pay without Subsidy, which will be ending soon.
Marius34 wrote: » Just for curiosity, I thought there is no subsidy for High Income? Are you saying someone on over 50K Annual is on Covid wage subsidy?
anplaya27 wrote: » We were about to complete buying of house. Solicitor etc involved. Surveyor paid. Waiting on house owner to sign contracts as we signed everything on our side. Was denied by bank today as partner was on wage subsidy even though now back in work since last week. We had continued with application at their say so even though the banks knew partner was out of work. Some joke.
Duke of Url wrote: » Were you Mortgage Approved or Mortgage Approved in Principal?
anplaya27 wrote: » Approved, hence us doing all those things. Solicitor was very very surprised at this development.
Duke of Url wrote: » So what happens now. Did they give you options or have they revoked approval?
Danger781 wrote: » Hey all, I have sone questions that I haven't seen answers to in this thread: 1. I'm still in probation in my new job. Assuming that period is not extended I should be over the line in September. I assume we need to wait for my probation period to be over before we apply? With all that's going it will probably be necessary anyway with herself out of work and on the Covid payment..
2. I see a lot of people here recommending applying via a Broker. Is that not an expensive option? Can anyone offer some information on the costs of a broker?
3. We are currently saving separately. Separate bank accounts. Separate saving accounts. Should we be saving together?
4. Would it better to be engaged before we apply? Currently still technically single but we're living in her parents house to save.
Creamy Goodness wrote: » You can apply to get the ball rolling but you’ll need to be out of probation and your partner off any COVID related payments before drawdown. Brokers shouldn’t charge. They get commission from the banks. Doesn’t matter they’ll assess both of your current accounts and savings accounts so it won’t matter. Just make sure savings are regular and for the same amounts. Marital status doesn’t mean much in terms of getting a mortgage. You’ll both be named on it so you’ll both be responsible for it. That’s about it.
Creamy Goodness wrote: » Doesn’t matter they’ll assess both of your current accounts and savings accounts so it won’t matter. Just make sure savings are regular and for the same amounts.
Danger781 wrote: » I have regular savings of €250 per month and have had that going for a couple of years. I know it's very little but I used to thrown in lump sums when I'd get quarterly bonus or if the account just got passed a certain point over time. I'm earning a lot more now in the newer job so I should really get around to increasing the regular amount... Does it matter that my regular amount is quite small even though savings are substantial?
Duke of Url wrote: » Just got Mortgage Approval in Principal this morning
bulmersgal wrote: » That's great news. I've another week to wait I think. Broker said two weeks but will update as banks get back in touch with him
Duke of Url wrote: » Good Luck We applied directly with our Bank (BOI) We submitted everything last week but i think it was fast as they already have access to all our current accounts and savings accounts for the past few years.
random_banter wrote: » I have a quick question actually, maybe somebody will know the answer - do they do the credit checks before issuing approval in principle?
Duke of Url wrote: » With BOI I was informed Yes. During the Mortgage Application they asked for Statements, P60s, Salary Certs and pay slips. They also told us they they would run a credit check from their side.
random_banter wrote: » Thank you, that's great to know. Had my first proper call with a bank just now to get the process going. Hopefully we can get AIP to at least have the option of bidding on things once the market starts moving a bit more (whether that be up or down...)
Creamy Goodness wrote: » I'm not a betting man but even I would call myself foolish if I didn't bet on a bank doing credit checks on a mortgage application, the sky is blue and the grass is green (technically yellow atm *shrug*).
gmannix1000 wrote: » Anyone got a mortgage for 3.5 salary, and shortly afterwards applied for a top up to 4.0 times salary. Wondering if this is our only option at the moment to buy and do up a property given banks are not lending higher than 3.5 times salary at the moment with COVID and we need (and can afford) 4.0 times salary?
EvoEvo wrote: » Ehy Guys, I'm just wondering Will Lotto transactions affect mortgage application? Personally I have only small amounts..like 20 E per month.. What do you think?
Idjit wrote: » Does anyone know, does it matter to the bank if you have your savings in a joint account or can they be spread out over several accounts? Myself and my partner have a credit union account each, and a bank savings account each. Our savings are split over these four accounts. Do the banks have any preference over this, or does it matter as long as we can provide statements for them all?
