What questions did your mortgage team ask you that surprised you? Also, did any bank seem error ridden
Anyone have experience with Haven and gifts? Do they actually need the money physically in your account or just the form signed to signify the money can/will be gifted to you?
I went with a broker, GMC with PTSB. I had been using Doddle but they took weeks to review documents I was uploading. For me, if when I'm trying to give you business you aren't urgent, then when I actually need something urgently, I'd have my fears.
I had applied with AIB who annoyingly, wouldn't review any documents until I went into a branch with photo ID. No AIB branch near me that's open at least during "normal hours". Id happily supply photo ID at drawdown if needed, but the whole point of an online application is the ease of use.
PTSB, usual questions. Had a few large payments back and forth (all but one being less than 2k). Was able to be explained fairly easily.
I had few Paddy Power payment on my Revolut.They were small ,like 20€/week.Was no problem for ICS who were the cheapest at the time.
I assume it makes a big difference if you apply for a mortgage from the bank that you do most of your banking with, as they can see pretty much everything already. When I got my mortgage, it was a quick phone call to apply, and within 15 min I was approved. I just had to sign some forms. That was it. This was just six years ago, so certainly not in the crazy days.
There is a little over e136 billion on deposit in Irish banks from non-commercial depositors (regular people not business'). If your total deposit is less than say e5m, I doubt that they would even care. If your deposit is less than e100m it's not even going to be a rounding error on their balance sheet.
Would assume they mean if your dealing with the bank you have a current a/c with as I assume they can see date and time of transactions
Maybe so, they lost the house they were after either way but got one a little over 6 months later. A weird lie considering they only told us when we told them of our mortgage woes, which were not gambling related, just AIB underwriters asking for additional info and then AIB not actually asking us, repeatedly.
As any of us who actually got a mortgage know though, what the bank tell you and what the underwriters sign off on can be vastly different. I was asked lots of stupid questions by AIB which in hindsight, felt more like tick box, feeling involved, gathering ad data than anything useful.
I'm literally repeating what was said to me, nothing more, nothing less. I used to do the lotto but that was in person, with a card, but didn't affect my application, I would presume that level of detail is not conveyed in a card payment when done with general shopping. I know nothing about whether it does or does not affect your credit score, it was said to me by someone doing a MSc in the area but as you and I both know, plenty of stupid people have good educations and plenty of people parrot stuff (the irony being me in this thread) they heard from others.
I don't believe or disbelieve, just repeating what was said to me.
I take it your taking the mickey here? Or are you actually serious. That's complete nonsense. Never knew my bank statements had time stamps on it. 😂
Key words being "A house", not the house they were looking at in South Dublin, D4. The house they were looking at was several fold the cost of my own. They could have bought my house for cash within two years if they lived semi frugally.
Same as my friend who done finance told me, don't take out cash at 4am after a feed of pints, have your cash for a taxi etc, already, it doesn't look good. Same money going out but one leans the computer to say no.
Maybe she lied to us, she was upset, I have no reason not too. I guessed 6 euro but maybe it was more.
I've no doubt that's what they told you. But I also have no doubt that's not what actually happened.
It's actually bit of a myth. Somebody being a gambler, especially problem gambler would have a different risk profile to someone else. Ad that could be a factor in a borderline application. But the idea that any gambling payments means no-mortgage is simply not true. 1000s and 1000s of people gamble online. Many of them get mortgages.
110% mortgages. Madness in hindsight.
When getting our mortgage back in the Celtic Tiger days we were told you qualify for X amount based on your income and affordability but we can lend you an additional 25k as your wages will probably go up over the next few years and you might like to furnish your new house or get a new car with the extra amount.
It was Irish Nationwide and we all know what their practices were like now!
sort of yeah. That and showing you at least had the money to pay back at the time but I don’t think they really dug into your history.
I actually know of lads who made a few pound for themselves back in the day organising mortgages for young ones. That’s just how easy it was. Didn’t matter you had a mortgage already, didn’t matter if you had two, just ask, show you can pay them back (probably) and there ya go.
A bit of a tangent here, but does anyone know what kind of questioning or suitability screening was done back in the Celtic Tiger days? I ask because I know of horrifically financially ignorant people who were given huge mortgages back in the day. Was it really just a case of filling out a few forms?
Your 100% right, OPS friend just covering his tracks on refusal. You wouldn't be rejected even for one Paddy Power race at the grand national! There was definitely another reason they were rejected. My guess is regular expenses on the scratch cards on the lottery app.
Well then none of this should be a suprise to you.
What's with all the posts to thin air?
Clearly that's true. But if you are applying for a mortgage the computer doesn't like it if you have Paddy Power or the Lotto on your bank statement.
I'm not doubting the integrity of the poster who made the claim as I do think he is relaying the the story he was told and took it at face value.
Evidence of regular gambling is a red flag but even that is not an automatic refusal.
Purchasing one Lotto ticket for 6 euro is not evidence of a gambling habit.
A friend who recently got a mortgage was advised, by the mortgage advisor of the bank! to not buy Euromillions/Lotto tickets online.
Even though they only got one at a time and only when the jackpot was looking healthy.
They were told it could be considered regular gambling and a red flag.
Advisor said "just take out the cash and buy over the counter".
I understand why etc, but it's all a bit farcical.
He's looing for a one bed for +/- 400K in a rising market. If he is going to take a mortgage that he can't afford he might be lucky the bank are turning him down when he won't supply them with the information they want. Which he still has not told us what it is that is so awful of the banks to ask him.
in fairness you can’t say for certain it didn’t because you weren’t there! It’s entirely possible even the story teller hasn’t got the full facts.
I would imagine there was probably a little more to it than one lotto ticket but I’m sure most people wouldn’t be telling the full story to their friends either
Either way not really worth debating if it happened or not.
It's well know you should have a 'clean' account before applying for a mortgage. Gambling in any form is a no no.
Not beyond possible but there's a better chance that they would have won the lotto with that 6 euro ticket than there is of a bank actually using it as a reason to refuse the loan.
It didn't happen.
what odds does all that money matter if the bank is concerned they’re going to gamble it?
Its a very OTT reaction from the bank but not exactly beyond possible either.
I refuse to believe that what you are saying happened actually happened.
There is no way on Gods earth that spending 6 euro on a lotto ticket would have those repercussions for a couple that earn close to 7 figures between them.
If you're close to a combined income of a million a year, she could have bought a house for cash!
![Photo of [Deleted User]](https://wf.vanillicon.com/v2/fa6158ec27ced3502f61e44dfe5e8e7c.svg)
