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10-08-2018, 18:06   #31
Aoife_
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Hi guys,

Just wondering if anyone has experience with KBC approval recently and if the savings aspect is a big issue?
Currently in the middle of the process but haven’t been saving and currently on fixed term accountant/solicitor training contracts which seems to be making banks nervous ( we’re 23/25 so hard to be permenat at this stage). Have 70k deposit and looking for approx. 260ish

Have we any chance or need to just get out acts together and come back in 6 months

Thanks
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10-08-2018, 18:12   #32
Cash_Q
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Quote:
Originally Posted by Aoife_
Have we any chance or need to just get out acts together and come back in 6 months

The only way you'll know for sure is if you approach them. Having a big deposit is great, but they want to see your ability to repay the loan, and this is evident through showing the discipline to save regularly alongside your standard monthly outgoings. We were also told they like to see 'normal' spending, e.g. a Burger King at 3am every now and then shows you're not living such a strict lifestyle in order to save that you'll lose the run of yourselves once you get approval.

Main criteria they're seeking:
Steady outgoings
Steady savings
Normal spending within your means
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10-08-2018, 19:31   #33
Fol20
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Quote:
Originally Posted by Cash_Q View Post
The only way you'll know for sure is if you approach them. Having a big deposit is great, but they want to see your ability to repay the loan, and this is evident through showing the discipline to save regularly alongside your standard monthly outgoings. We were also told they like to see 'normal' spending, e.g. a Burger King at 3am every now and then shows you're not living such a strict lifestyle in order to save that you'll lose the run of yourselves once you get approval.

Main criteria they're seeking:
Steady outgoings
Steady savings
Normal spending within your means
Iv never heard of the Burger King type thing before. Maybe gambling is a no no but people do go out get food, have a few drinks etc
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10-08-2018, 21:26   #34
Cash_Q
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Quote:
Originally Posted by Fol20
Iv never heard of the Burger King type thing before. Maybe gambling is a no no but people do go out get food, have a few drinks etc

Yes exactly, and they prefer to see evidence of this kind of spending, rather than living on such a tight budget that you can only meet your obligations and then live like saints otherwise.
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11-08-2018, 08:01   #35
charlietheminxx
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Yes exactly, and they prefer to see evidence of this kind of spending, rather than living on such a tight budget that you can only meet your obligations and then live like saints otherwise.
Yeah myself and my partner met with a mortgage advisor in AIB and she told us the same thing, they like to see you can balance normal life and savings. That’s what I’ve reminded myself every time I’ve stuck in a Just Eat order or some online shopping anyway!
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