Exactly. They are literally getting us to jump through hoops for something that wont impact the mortgage.
The broker cannot shed any light as to why they are looking for so much info either.
Its extremely difficult to even get through to Social welfare on the phone, and then to ask them to write a bespoke letter detailing the different points they want addressed.
I find that incredibly annoying. All banks should have to take into account any social payment you receive when it comes to mortgages. Especially if you’re a carer.
I find it strange that with a 3 year old and 2 year old in our household they don’t take into account the €280 we receive monthly. I know this all stops when they’re 18 but you’re guaranteed this payment in some way for the next 15/16 years. Half your mortgage length in reality.
Anyone here that is on a carers payment or their spouse?
PTSB asking an awful lot of pointless questions imo.
We sent in my gov statements in the beginning , detailing my partners payments and frequency.
Now they have come back wanting to know the nature of my childs illness, the term of the payment, and that my partner is allowed work 18 hours ( anyone that claims carers is allowed work 18.5 hrs , this is common knowledge or can be easily found out without looking for a letter from the social welfare confirming same) . They also want to know what payments she is on and amounts ( already sent this).
Just seems like a lot of hassle considering they made it clear they DONT take her carers allowance into account when doing the figures.
just curious if this is possible, scenario:
u put a booking deposit of say 10k on a house in january 2022 and the EA says it will be ready by april (new build)
over a year later it is still not ready and no closing date confirmed yet, EA never has any proper info etc.
contracts all signed etc
if you pull out of the deal do you lose ur deposit or is there any way to get it back considering all the delays/lack of clarity on their side?
It’ll probably be a few weeks as well for us to get proper AIP I think looking at the AIP I have now that’s just the mortgage manager saying we can get what we might need before going to the underwriter
Wow,we went through a broker who sent everything we needed to the bank and they said it could be 4 to 5 wks before we hear anything as boi are so slow
I filled out the online forms last Wednesday night got a response Thursday afternoon to say it was under review. Got an email yesterday from our online mortgage advisor to say we got First Step Approval in Principle for the amount requested.
then I had to add on details from 3 years of P60’s for each of us confirm a few things like savings and then herself just had to thick a few boxes to consent to me to act on her behalf.
we still haven’t sent in Revolut statements, saving statements. We’re with BOI so all our bank statements and so on are there already.
How did this go for you ?
Hiw long did it take for you to get AIP with BOI?
Trying to avoid the next rate hike from BOI at the minute. The house will be finished (access roads etc) by the 28th at the latest (likely sooner). We have everything in except the valuers report which should be this week or early next week. The house insurance should be in place shortly after that.
The only documents that are out of our control are the ones the solicitor provides the bank (BER cert, New Build cert, professional indemnity etc). Should the solicitor have these from the contract stage or are these only given to the solicitor on completion?
The deadline for receipt of documents is the 26th and drawdown May 5th. How likely are we to make the deadline with BOI from those with experience? What is the likely timeline from this point?
Just received correspondence from BOI on the mortgage hub app and got First step AIP from them. I’ve finished the details they asked for after that and just waiting on my wife to sign her declarations. I assume these declarations are the likes of her salary place of work etc?
also what happens next if anyone has gone through this with BOI?
thanks
thats single person with 2 incomes. Thanks
I'm in the exact same boat. Self build is due to start in May and all along I was aiming to get a fixed rate and lock as early as possible.
I am slightly questioning if I should go variable now, but some fixed rates like EBS come with 3% cashback so it negates the difference between the fixed and variable for 5 years, plus you have the stability.
Overall I still think I'm gonna fix it, even though it ill now be at 4.5% with EBS
ICS and finance Ireland do. They will also allow you to take your base salary as 2 points up the increment scale is you are public sector.
Will the banks take in a shift allowance when calculating the mortgage they wil give you I am a public servant and do shift work which gives me a 25% extra for shift allowance
Hi. Can you please advise(PM) me any bank or broker for mortgage application if you have 2 incomes? 1st is employed and second is self employed(have 3 years income return). Thank you
we got mortgage approval and full loan offer has been sent to our Solicitor. We got 5 year fixed PTSB interest rate of 4.3 % with 2 percent cash back. However, now that we are thinking again, variable rate on website is coming as 3.4 which is significantly less than fixed rate we are getting.
uptil few months ago, General advice was to fix mortgage for few years. Is that still the case? now that interest rates are this high, would it not make sense to get variable rate?
Once we had sent in all our documents it took about a week once it went to the underwriter. This was about a week ago. This was direct with BOI, not through a broker.
We sent all our docs to our broker this week also and where told it's currently taking 20-25 working days for a decision with BOI.
Any idea how long boi take to give AIP?
mortgage broker says they've been very slow lately and could be end of April,we just sent all our docs off yesterday, 4 to 5 weeks seems like an awful long time?
Heard the same about BOI. Surely no company will sign that. Does BOI not want more customers? What’s high risk today will again be one of the safest jobs in the future.
Completely agree. I don’t see companies fulfilling the request to write that letter either.
Not sure what the solution is.
Anyone can write a letter saying that they don't expect someone to be laid off ... Doesn't mean it wont happen. Sounds like a pointless exercise.
Started a new application with BOI recently. Seeing some reports from people in the tech industry that they’re now looking for a letter from their employer stating they won’t be laid off within the next two years. Apparently tech jobs are now considered “high risk”.
Anyone experience same? Surely employers can’t or won’t guarantee this?
I work in the financial sector, partner is self employed but mortgage advisor assured us the only issue the underwriter had was with me being on maternity leave
What sector do you work in?
Hi there, our application was just denied by the underwriter as I am currently on unpaid maternity leave I provided the letter stating my return to work date/ same salary etc . Our mortgage advisor is shocked and will be appealing this on Monday with backing from his manager. He said this is the first time anyone has been denied for this reason with EBS, he said providing the letter is standard practice. Just wondering if anyone has been in a similar situation/has any advice or knows the likelihood of the underwriter changing their decision? I’m due to return back to work at the end of July so not too far off at all.
im not approved yet and not sure if they will approve but the stress test will want to see you covering the monthly repayment with a bit to spare id imagine.
Did you have to be saving more per month than your mortgage repayment would be or is the same amount ok ?
just 6 for me
