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Put on Wage Subsidy Scheme - Will this affect mortgage application?

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    #302
    greengrass88
    Registered Users Posts: 87 ✭✭greengrass88


    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.

    Unfortunately for me my employer will be availing of the subsidy until it is over!


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    #303
    Gemma_22
    Registered Users Posts: 35 ✭Gemma_22


    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.

    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


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    #304
    brisan
    Registered Users Posts: 2,242 ✭✭✭brisan


    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

    Drawdown seems to be where most people on EWSS have problems


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    #305
    greengrass88
    Registered Users Posts: 87 ✭✭greengrass88


    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

    So frustrating for you. What kind of wording did the bank want from you? Hopefully the second letter is ok for them


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    #306
    Gemma_22
    Registered Users Posts: 35 ✭Gemma_22


    brisan wrote: »
    Drawdown seems to be where most people on EWSS have problems

    I havnt even got to loan offer so it's causing issues there too


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    #307
    Gemma_22
    Registered Users Posts: 35 ✭Gemma_22


    greengrass88 wrote: »
    So frustrating for you. What kind of wording did the bank want from you? Hopefully the second letter is ok for them

    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.


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    #308
    greengrass88
    Registered Users Posts: 87 ✭✭greengrass88


    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.

    Hopefully you can progress to next stage...what a time to be house hunting :(


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    #309
    Gemma_22
    Registered Users Posts: 35 ✭Gemma_22


    greengrass88 wrote: »
    Hopefully you can progress to next stage...what a time to be house hunting :(

    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.


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    #310
    greengrass88
    Registered Users Posts: 87 ✭✭greengrass88


    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.

    Ah god that's crap. Hope you find another and they let you drawdown


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    #311
    TaDa
    Registered Users Posts: 21 ✭TaDa


    Just wondering if anyone has some how managed to drawdown and close while still working under an employer claiming the subsidy scheme. It’s been forever mentioned that it’ll be reviewed case by case but what exactly are they going to review and what would determine that they will review your case?

    Seems it’s gonna be an issue again given the rise in sectors closing back down.


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    #312
    Gemma_22
    Registered Users Posts: 35 ✭Gemma_22


    Im still waiting on loan offer so im not sure if we have got through the net but a few people I have been talking to has said the case by case takes into account how secure of a sector you are working in, whether its one or both of you on a subsidy if its a joint application etc.

    Ive seen a couple of people drawdown, not many but it must mean they are taking some applications case by case.


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    #313
    greengrass88
    Registered Users Posts: 87 ✭✭greengrass88


    I'm sure some people have been rejected by AIB for being on the subsidy, but I have heard a few cases of people on subsidy being able to drawdown with them. They might be an option.


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    #314
    mrbrightside11
    Registered Users Posts: 63 ✭✭mrbrightside11


    So disheartened.

    After so many viewings and bidding wars we finally went sale agreed on a property. We have AIP with PTSB. When we requested to proceed to loan offer they requested letters from our employers to confirm they are not availing of any subsidies.

    I got my letter without problem but turns out my partners company has been availing of EWSS and we didn't even know! All pay slips are clear but it looks like because of this we will not be able to proceed to loan offer.

    My partner has submitted a letter from the company stating that they are financially stable / continuing to trade and his employment is not dependent on the company receiving the subsidy / his job is in no way at risk.

    We are not borrowing beyond our means, I could easily cover the mortgage amount two times over if it came to it - so frustrating.

    Has anyone been successful recently? Or recommend any other banks we can try?


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    #315
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    mrbrightside11 wrote: »
    So disheartened.

    After so many viewings and bidding wars we finally went sale agreed on a property. We have AIP with PTSB. When we requested to proceed to loan offer they requested letters from our employers to confirm they are not availing of any subsidies.

    I got my letter without problem but turns out my partners company has been availing of EWSS and we didn't even know! All pay slips are clear but it looks like because of this we will not be able to proceed to loan offer.

    My partner has submitted a letter from the company stating that they are financially stable / continuing to trade and his employment is not dependent on the company receiving the subsidy / his job is in no way at risk.

    We are not borrowing beyond our means, I could easily cover the mortgage amount two times over if it came to it - so frustrating.

    Has anyone been successful recently? Or recommend any other banks we can try?

    Depending on the sector your partner works in, that letter may be enough


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    #316
    mrbrightside11
    Registered Users Posts: 63 ✭✭mrbrightside11


    cubatahavana wrote: »
    Depending on the sector your partner works in, that letter may be enough

    Fingers crossed.

    The thoughts of having to wait until the Scheme is over and then start viewings again - market is crazy at the moment too!


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    #317
    Ellie1988
    Registered Users Posts: 59 ✭✭Ellie1988


    I'm not sure what is happening with the ewss once we get to end march...anyone any ideas? The info out there is saying that it's due to end 31st match 2021, although I know it was mentioned back in october that some form of supports would continue beyond that. What form they take I'm not sure, or whether or not they will impact people looking for a mortgage. I can deal with waiting until april but if they are extended until end of year I'll lose the plot!
    If you have no luck with PTSB I would suggest giving aib or kbc a try as have heard of a small (not many) number of people having success with those banks whilst on the scheme.


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    #318
    mrbrightside11
    Registered Users Posts: 63 ✭✭mrbrightside11


    Ellie1988 wrote: »
    I'm not sure what is happening with the ewss once we get to end march...anyone any ideas? The info out there is saying that it's due to end 31st match 2021, although I know it was mentioned back in october that some form of supports would continue beyond that. What form they take I'm not sure, or whether or not they will impact people looking for a mortgage. I can deal with waiting until april but if they are extended until end of year I'll lose the plot!
    If you have no luck with PTSB I would suggest giving aib or kbc a try as have heard of a small (not many) number of people having success with those banks whilst on the scheme.

    I am not too sure what is going to happen, it seems like the Scheme will be extended until beyond March, my partners employer have confirmed that they will be availing of it until at least June 2021. Maybe it will be in another form I am not sure.

    Thanks worth a try with the other banks on the off chance!


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    #319
    Ellie1988
    Registered Users Posts: 59 ✭✭Ellie1988


    mrbrightside11 wrote: »
    I am not too sure what is going to happen, it seems like the Scheme will be extended until beyond March, my partners employer have confirmed that they will be availing of it until at least June 2021. Maybe it will be in another form I am not sure.

    Thanks worth a try with the other banks on the off chance!

    Yes try them all and see if any luck. It's very frustrating especially when you have found a place and then find out last minute your partner is on the scheme. I feel that companies should be informing employees about this and it's unfair to not share this information.

    I work in aviation/transport area so thoughts of me getting a mortgage are off the cards for the foreseeable!


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    #320
    Newhomebuyer
    Registered Users Posts: 66 ✭✭Newhomebuyer


    Anybody with bank of ireland and on ewss. My employer started awailing Ewss since January and we signed contracts just a few days back. I feel like I wanna kill myself now because the employer says he won't get off it. I do not how I can I get out of this situation without losing the home and the deposit?


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    #321
    greengrass88
    Registered Users Posts: 87 ✭✭greengrass88


    Newhomebuyer wrote: »
    Anybody with bank of ireland and on ewss. My employer started awailing Ewss since January and we signed contracts just a few days back. I feel like I wanna kill myself now because the employer says he won't get off it. I do not how I can I get out of this situation without losing the home and the deposit?

    Have boi asked you for any documents or proof your employer is on the subsidy? Are you working in an industry that might be considered at risk?


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    #322
    Dolbhad
    Registered Users Posts: 782 ✭✭✭Dolbhad


    Ulster bank just asked us were we on a
    Covid payment and for our payslips. We weren’t so said no and had clear payslips but they didn’t seek any confirmation from employer.

    As far as I am aware the payslips wouldn’t show subsidy payment so I was surprised nothing from employer was requested.


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    #323
    greengrass88
    Registered Users Posts: 87 ✭✭greengrass88


    Dolbhad wrote: »
    Ulster bank just asked us were we on a
    Covid payment and for our payslips. We weren’t so said no and had clear payslips but they didn’t seek any confirmation from employer.

    As far as I am aware the payslips wouldn’t show subsidy payment so I was surprised nothing from employer was requested.

    I've heard some banks ask for it on salary carts


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    #324
    Dolbhad
    Registered Users Posts: 782 ✭✭✭Dolbhad


    greengrass88 wrote: »
    I've heard some banks ask for it on salary carts

    Yes the Ulster bank one didn’t have it on there salary cert. Well back in October they didn’t anyway. For drawdown they asked for updated payslips and for us to confirm no changes since loan offer issued.


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    #325
    Newhomebuyer
    Registered Users Posts: 66 ✭✭Newhomebuyer


    Well they have asked for salary certs which ask if any support from govt is availed of. Is it possible to take an employee off ewss while the rest of the firm avails it?


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    #326
    Skyrimaddict
    Registered Users Posts: 809 ✭✭✭Skyrimaddict


    gmannix1000 wrote: »
    Hi All,

    Employer has notified they have gotten the COVID-19 wage subsidy scheme last month.

    My wages haven't changed but was hoping to apply for a mortgage in the next 3 months and was wondering if this would affect my mortgage application/amount in any way?... if anyone knows?

    Very good friend of mine was AIP, but put on PUP, was turned down the mortgage


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    #327
    greengrass88
    Registered Users Posts: 87 ✭✭greengrass88


    Newhomebuyer wrote: »
    Well they have asked for salary certs which ask if any support from govt is availed of. Is it possible to take an employee off ewss while the rest of the firm avails it?

    Yeah I've heard it is possible, depends on your employer...some employers may or may not take you off the subsidy. I've heard that some banks will accept if the employer is availing of subsidy but say they aren't claiming for an individual. For others this hasn't worked and it's still a no from banksnif your employer is claiming anything. It really is all over the place and there are no set rules. Worth talking to your employer and giving it a go.


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    #328
    recyclebin
    Registered Users Posts: 3,501 ✭✭✭recyclebin


    There is no real way of proving whether an employer is availing of supports for an individual employee. It also wouldn't make a lot of sense for an employer to claim for one employee and not for another if they are eligible for the EWSS.


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    #329
    mrbrightside11
    Registered Users Posts: 63 ✭✭mrbrightside11


    We were told that the issue is that the Employer is availing of the EWSS doesn’t seem to matter about the individual


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    #330
    Newhomebuyer
    Registered Users Posts: 66 ✭✭Newhomebuyer


    greengrass88 wrote: »
    Yeah I've heard it is possible, depends on your employer...some employers may or may not take you off the subsidy. I've heard that some banks will accept if the employer is availing of subsidy but say they aren't claiming for an individual. For others this hasn't worked and it's still a no from banksnif your employer is claiming anything. It really is all over the place and there are no set rules. Worth talking to your employer and giving it a go.

    Yeah to be honest not even sure if he can remove one. Like how does that work?


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    #331
    Newhomebuyer
    Registered Users Posts: 66 ✭✭Newhomebuyer


    mrbrightside11 wrote: »
    We were told that the issue is that the Employer is availing of the EWSS doesn’t seem to matter about the individual

    If you don't mind can I ask which bank?


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