DubLad69 wrote: » Both AIB and EBS are still offering exemptions. On a case by case basis and you need to have a good income.
Jasna1982 wrote: » Really? Because EBS told me not at the moment
Dolbhad wrote: » I used to have an exemption with AIB and then they changed their criteria and we were not eligible as they increased their disposal income level you needed. I think it was hard to get an exemption from them on an average income even before Covid hit. I was speaking to a few mortgage advisors and broker I know through work (I work in a business park so have a few banks and brokers around the office). No one seems to really know. The broker thinks plan for January for them to kick in. The advisor in PTSB is hoping possibly September they may hear word of exemptions. BOI and KBC weren’t able to give any timeframe on when they expect to hear. We are really struggling bidding without the exemption.
MaryO100 wrote: » Wondering if anyone has any update about exemptions? There is technically no blanket ban on mortgages for those in receipt of Covid payments now, but there is still a blanket ban on exemptions. I don’t know why it can’t be looked at on a case by case basis. We are two public servants with decent incomes and had hoped to buy this year and had assumed we could get a loan to value exemption. We were stung with negative equity for the past ten years, so we don’t have much equity in the house and so are short on the 20% deposit. It is so frustrating being in limbo and potentially having to wait years to save the 20% when we have the capacity to repay. Also wondering if by any chance Avant Mortgages will offer exemptions?
MaryO100 wrote: » Hi, was that a loan to income exemption? It is very tough the criteria changing. I hope that they can get back to looking at applications on a case by case basis rather than this blanket ban which I can’t understand.
hanaimai wrote: » Banks can only give exemptions on a certain percentage of lending every year. So the more mortgages they give out, the more exemptions they can give out. Since lending took a big hit with Covid, there are less mortgages being given out, therefore there are less exemptions available. Banks probably need some time to work out how many exemptions etc. they can give out with the downturn in lending to still be within the rules. If lending picks up, there will probably be more exemptions available later in the year.
random_banter wrote: » Literally got an update on Friday from BOI that exemptions are still off. When they come back, we were told, we need the exemption request to be linked to a specific house that we’ve bid on. Seems weird to think we would have to bid and still not know if we would get the exemption. Like you, we need LTV. So I feel your pain. Some articles about AIB etc over the last few months mention that there are a few LTI’s going but LTV’s are definitely gone across the board.
Cliona2012 wrote: » Hi guys, perhaps someone could help me out with my maths and tell me if I'm missing something? I'm looking to borrow 40,000 from BOI Mortgages. At 2.9% fixed rate over 5 years that's € 3,018 total interest. Now I also have a mortgage saver so would be entitled to 2,000 in bonus interest. Then there's cash back of 1,200. Am I incorrect?
Brego888 wrote: » In the process of switching mortgage at the minute to KBC. They have very favourable rates of 2.25% at my ltv rate. Would you fix for 2 or 3 years in the current climate? Both the same rate. Obviously there are lots of variables to the question and personal circumstances will differ. But as a straightforward option would you pick 2 or 3 years and why?
klose wrote: » Everyone else still getting radio silence over on the my mortgage portal for AIB? Even a sorry we are busy message would be appreciated.
redsteveireland wrote: » I got a message from one of the staff yesterday, not just generic either, they mentioned some specifics, and also said they were busy and apologised.
VonLuck wrote: » Can anyone tell me if I was to make a career change with a severe drop in pay (40-50% gross), how would that affect my current mortgage? I would have gotten it originally on the basis of 3.5 times the higher salary and would not be within an arses roar if I applied with the lower salary.
jesus_thats_gre wrote: » Why would it have any effect whatsoever once you keep your payments up?
tommyombomb wrote: » What type of salary level would be needed to get the 4.5 multiple for a single earner. Wondering for myself as looking for something in mid 2021 and would need close to that to get an apt in a nice location.
VonLuck wrote: » Well the whole basis for a mortgage is your salary. It kind of undermines the whole thing if you can jump down to a 25k salary the moment after you draw down a mortgage for 300k (hypothetical).
