Gemma_22 wrote: » After all that it ended up getting rejected because the house has like fabricated steel roof tiles. They have had the structural survey since Sept and they are only seeing this now.
greengrass88 wrote: » Hopefully you can progress to next stage...what a time to be house hunting
Gemma_22 wrote: » Well im not sure what the issue was with my partners letter it clearly stated the company wasnt getting the scheme but they wanted it to say that they were not getting it for him either. Even though how could he be if the employer wasnt claiming it at all!! My letter advised that the company have signed up to the scheme but can only avail if their turnover is down 30% and it changes every month. But they wanted it to say whether they were claiming it at all and for me.
greengrass88 wrote: » So frustrating for you. What kind of wording did the bank want from you? Hopefully the second letter is ok for them
brisan wrote: » Drawdown seems to be where most people on EWSS have problems
Gemma_22 wrote: » We had to give in letters from our employer re covid which we did, my employer is claiming it. They then came back 2 weeks after they were sent in and wanted valuation and a structural survey done so we got all that sorted and paid for and were thinking this is great news we are moving forward. Then 2 weeks later again they came back and said our letters weren't good enough and needed to be worded differently. Of course i was livid as we had forked out for valuation and survey and then came back and said our letters were no good.Sent in updated letters worded how they wanted and another 3 weeks later we are still waiting for a response whether or not they will give us loan offer at least. We are sale agreed since Sept so need to sign before seller pulls out. I've heard a few people get through the net at least to loan offer
Gemma_22 wrote: » We had to give in letters from our employer re covid which we did, my employer is claiming it. They then came back 2 weeks after they were sent in and wanted valuation and a structural survey done so we got all that sorted and paid for and were thinking this is great news we are moving forward. Then 2 weeks later again they came back and said our letters weren't good enough and needed to be worded differently. Of course i was livid as we had forked out for valuation and survey and then came back and said out so letters were no good. Sent in updated letters worded how they wanted and another 3 weeks later we are still waiting for a response whether or not they will give us loan offer at least. We are sale agreed since Sept so need to sign before seller pulls out. I've heard a few people get through the net at least to loan offer
FinglasFollain wrote: » Banks constantly changing their minds on this. We were told in October AIB would consider progression to draw down on a case by case basis. We feel we’ve a very strong case (childcare and the fact 80% of our income is unsubsidised). Now they’ve decided to change the rules and are telling us drawdown won’t be considered until the subsidy is gone. Which given the government noises about extending it, doesn’t sound good. Looks like we’ll be locked out of home buying for at least another year, to add to the previous 6 months. It’s so disheartening.
C575 wrote: » At the moment it's 2020 figures compared to 2019. But considering most things were closed throughout 2020 or on restrictions, you'd expect most to be 30% down. With the majority of things opened back up now and hopefully into early next year, it may be a case where some employers can't avail of the EWSS.
greengrass88 wrote: » What exactly is the criteria for it at the moment? Do they need to be down 30% for 2020 to be on it now?
C575 wrote: » "Case by Case" like everyone else. They're potentially making a change to the EWSS for Jan. To get the EWSS, company needs to be down 30% Jan-Jun 2021 compared to Jan-Jun 2019. That may mean some will come off.
C575 wrote: » Try ICS. We went with them and fine for AIP with wage subsidy. They said they'd proceed to loan offer if you have a letter to confirm once the wage subsidy ends, you're pay will not be impacted. Will let you draw down once you have a payslip to show you're not on it, but considering the EWSS doesn't show - I assume they will ask for a letter to confirm this. We went through LFS (broker) in dunboyne and no issues with wage subsidy.
FinglasFollain wrote: » Whatever about banks potentially considering, brokers hear the word subsidy and say goodbye. They’ve been of absolute no help, none have said they could proceed. We’re approaching all the banks basically in the hope they will assess on a case by case basis.
greengrass88 wrote: » It's so rubbish isnt it in your case especially. Have you approached any brokers or more than one bank?
FinglasFollain wrote: » Whilst I agree with banks being cautious, surely the need for a blanket ban is outrageous. We have proved we can comfortably repay the mortgage with just one wage, more than the accepted 1.3 times stress test. We have letters to prove the company don’t need the subsidy but they’re taking it anyway. We’re looking for a 60% mortgage. Small risk compared to a 90% mortgage with a 4.5 times exemption but seems they can be thrown out. And then there’s the childcare thing. They’ve been classed as an essential service in governments eyes. They won’t be closing, laying staff off etc. They are getting the subsidy purely as a stimulus. But again, banks don’t care. Blanket no.
brisan wrote: » While I agree it’s disheartening and in your case possibly unfair it’s just the bank being ultra cautious There was a case in the Sunday indo a couple of weeks ago where a mortgage was refused based purely on the sector ( aviation ) the applicant worked in He was not on a subsidy It was a mover mortgage and he already had a mortgage with the bank for six years with an impeccable repayment record They still refused based solely on where he worked
spiralout wrote: » Thanks. I thought I heard it was to be extended too but all the information I can find says it will end in march.
TaDa wrote: » End of March and then 3 months off which is what some people have been quoted. If this is the case at least 6 months to drawdown But to answer your question, not extended from what I have read. When I said 6-12 I assumed the worst, which is wrong of me
greengrass88 wrote: » In the budget they said the subsidy would be extended to end of 2021
spiralout wrote: » Has the subsidy been officially extended? I thought it was to end in march?
greengrass88 wrote: » Seems to be happening a lot of people, anyone on subsidy will not get drawdown. Subsidy is being extended until end 2021 which makes matters worse unless the banks change their policies I dont see much changing
TaDa wrote: » So you were given a resounding no? You receive the subsidy but your partner does not? I’d have thought that might stand to you if at least one is not in receipt while the person in receipt is in a sector that is hit but not to the same extent as some other sectors. I get the whole picture to why they are being cautious but this is potentially going to last another 6-12 months. Should I just leave my job in a well established company that receives EWSS as they have had a couple of recent good years in the hope I join a company that is not in receipt?
Sonny LoSpecchio wrote: » My partner and I have our deposit sorted, our side pot filling up nicely my parter works on a fixed term contract witch wasn't a problem at first when we spoke to our broker, I work in construction and have been back in work since May, My partner not long after me she's in childcare, We've brezzed through everything until now, her company is claiming the wage subsidy and our broker is now saying the banks won't deal with us till she either leaves the job or the subsidy comes to an end, Really stuck between a rock and a hard place, we can go mortgage approved but can't draw down! Very frustrating, Anybody in similar situation?
greengrass88 wrote: » It doesnt seem to make a difference...once on the ewss it seems to be a no from all the banks (at least in my experience). I am in a secure job, employer has seen downturn due to covid yes, but the company will bounce back. My partner is a civil servant....this doesnt make a difference to the banks unfortunately.
klose wrote: » Surely banks will take into consideration the areas of work people are in when on the ewss? I don't think they'd look to fondly on a bespoke business with a couple employees shut down because of restrictions compared to the likes of penneys? Ones likely to have issues in the future compared to others being safe when all this blows over?
