you2008 wrote: » well. that is very strange, I asked BOI two years ago, got 4.5 times approved ( did not use it as buy did not work out), asked this same guys two years later ( two months ago at BOI), he told me no more 4.5 times due to the central bank new rule for the covid 19 this year, so he is lie to me ?
Bubbaclaus wrote: » Either he lied to you or else you misunderstood him. It is not up to the Central Bank as to whether you are offered an exemption or not.
you2008 wrote: » Really? that is very interesting, glad I asked here and cleared this confusion. Many thanks for the feedback.
hanaimai wrote: » One potential reason why there might not be any exemptions is due to the lower levels of lending following Covid. Under the Central Bank rules, the banks can exempt a certain percentage of their lending from the 3.5 limit. So the less they lend overall, the less exemptions that are available. So banks probably gave out exemptions under normal lending exemptions early in the year and once Covid hit, they had to stop/greatly lower that since there was such an impact on overall lending.
Cian59 wrote: » Does anyone know when AIB are looking for a letter confirming you're not on EWSS? Is it before letter of offer or drawdown? Trying to get ahead of it with the boss.
Jasna1982 wrote: » If I get a promotion in January with a significantly higher salary, can I apply for a mortgage straight away? I know the banks want to see 6 months of payslips. Do I need a few months on the new salary, or can I apply for a higher mortgage the same month?
HannahR31 wrote: » I'm in a similar boat - starting a promotion in 2 weeks. I've been told I can get a mortgage based on the higher salary immediately just need 1 payslip and updated salary certificate. But also told it's that way because it's within the same field/company - if it was a completely different job then you'd have to wait.
tadgho wrote: » Does being on an incremental pay scale (public sector job with very high job security) hold any value when applying for mortgage, or will your current salary right now only determine how much you can borrow?
Anastasia_ wrote: » Hi all, I'm currently mortgage approved and have found a house, but I'm a bit worried about my budget. After bills (including everything, food, transport, health insurance etc) I would be left with around €200 a week as discretionary income. Is this a very low amount? I feel like it is but bank etc are happy with it. I think it is because I am a single applicant and not taking into account income from rent a room, as I don't want to be tied to doing that. I've always been a saver and just think that it's a crazily low amount. What is the usual discretionary income people are left with at the end of the week?
HannahR31 wrote: » ICS Mortgages and Finance Ireland both do a public sector mortgage where they will take your basic salary to be 2 points up the pay scale and will work off that. As far as I know they're the only ones who will look at this.
Jimson wrote: » Whats the banks view on bonuses, do they take these into account as part of the 3.5 rule. Say if I got 6% last year and 9% this year of my salary what way does it work?
poker--addict wrote: » That will vary wildly Anastasia. If the bank is happy, even in current times, I would feel very comfortable. The alternative is you continue to pay a fortune in rent with no abilty to rent a room. All things being equal your earnings may increase over time, and you will rent the room at least some of the time.
Renjit wrote: » Would you have some savings set aside as rainy day fund. or someone from your family able to help you in that case? Go ahead then. I would ideally look for 3k-5k savings in place at any time for single person.
Billythekid19 wrote: » 200 euro a week is not a lot in this country. Suppose your boiler goes in the middle of winter, the replacement could run into thousands of euro. It is recommended by many financial advisors that your mortgage repayments are no more than 25- 30% of your gross income.
Jasna1982 wrote: » Good to know, thanks! I'm even staying in the same team So I'd just need to wait for 1 updated payslip.
Anastasia_ wrote: » I do desperately want to get out of home but don't want to leave myself with nothing at the end of the week either for a few years.
