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

greengrass88 · 12-12-2020 1:38pm

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!

Gemma_22 · 14-12-2020 3:32pm

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

brisan · 14-12-2020 3:34pm

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

greengrass88 · 14-12-2020 4:46pm

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

Gemma_22 · 14-12-2020 6:26pm

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

Gemma_22 · 14-12-2020 6:28pm

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.

greengrass88 · 14-12-2020 9:23pm

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

Gemma_22 · 18-12-2020 12:25am

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.

greengrass88 · 18-12-2020 11:28am

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

TaDa · 07-01-2021 1:44am

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.

Gemma_22 · 07-01-2021 12:03pm

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.

greengrass88 · 07-01-2021 7:19pm

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.

mrbrightside11 · 26-01-2021 6:15pm

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?

cubatahavana · 26-01-2021 6:36pm

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

mrbrightside11 · 26-01-2021 6:41pm

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!

Ellie1988 · 29-01-2021 5:29pm

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.

mrbrightside11 · 29-01-2021 6:53pm

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!

Ellie1988 · 30-01-2021 1:42pm

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!

Newhomebuyer · 03-02-2021 5:44pm

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?

greengrass88 · 03-02-2021 9:59pm

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?

Dolbhad · 03-02-2021 10:50pm

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.

greengrass88 · 03-02-2021 11:46pm

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

Dolbhad · 04-02-2021 5:09am

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.

Newhomebuyer · 04-02-2021 8:26am

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?

04-02-2021 10:53am

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

greengrass88 · 04-02-2021 12:19pm

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.

recyclebin · 04-02-2021 8:53pm

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.

mrbrightside11 · 05-02-2021 1:40am

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

Newhomebuyer · 06-02-2021 12:19am

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?

Newhomebuyer · 06-02-2021 12:20am

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?

mrbrightside11 · 06-02-2021 1:57am

Newhomebuyer wrote: »

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

Of course, PTSB and BOI, our broker is now in the process of reaching out to KBC too

Covid21 · 06-02-2021 9:08am

Did anyone on here have any success drawing down there mortgage while one or both applicants are availing of EWSS?

The banks are saying they are taking it case by case but I’m yet to hear anyone that had any success actually drawing down and getting the money into there account.

AIP doesn’t count and I’m talking about the EWSS scheme not the PUP

greengrass88 · 06-02-2021 1:36pm

Covid21 wrote: »

Did anyone on here have any success drawing down there mortgage while one or both applicants are availing of EWSS?

The banks are saying they are taking it case by case but I’m yet to hear anyone that had any success actually drawing down and getting the money into there account.

AIP doesn’t count and I’m talking about the EWSS scheme not the PUP

I haven't heard cases were both applicants were on the ewss and allowed drawdown. I have heard of a very limited amount of people being allowed if one applicant out of the 2 is on ewss. I think it will depend on the sector you work in as well.

Just saw this article in the news this morning about the ewss being extended https://www.google.com/amp/s/www.irishtimes.com/business/economy/new-financial-supports-for-businesses-hit-by-lockdown-varadkar-says-1.4477468%3fmode=amp

mrbrightside11 · 06-04-2021 9:34pm

Just to let you all know in the end we were successful drawing down while my partners Employer was availing of the EWSS. We provided a letter from my partners company stating that the company is financially stable and that job is not reliant on still receiving the payments. We were with PTSB. There is some hope

cubatahavana · 06-04-2021 10:10pm

mrbrightside11 wrote: »

Just to let you all know in the end we were successful drawing down while my partners Employer was availing of the EWSS. We provided a letter from my partners company stating that the company is financially stable and that job is not reliant on still receiving the payments. We were with PTSB. There is some hope

Really happy for you

greengrass88 · 17-04-2021 6:41pm

mrbrightside11 wrote: »

Just to let you all know in the end we were successful drawing down while my partners Employer was availing of the EWSS. We provided a letter from my partners company stating that the company is financially stable and that job is not reliant on still receiving the payments. We were with PTSB. There is some hope

Hope you don't mind me asking...what did ptsb say re subsidy in your aip? We have just got aip from them (I'm on ewss, partner is not) and one of the conditions within the aip document was that my employer is not availing of any subsidy for us to go to loan offer. Just wondering was your aip the same?

mrbrightside11 · 19-04-2021 11:36pm

greengrass88 wrote: »

Hope you don't mind me asking...what did ptsb say re subsidy in your aip? We have just got aip from them (I'm on ewss, partner is not) and one of the conditions within the aip document was that my employer is not availing of any subsidy for us to go to loan offer. Just wondering was your aip the same?

Yes our AIP stated the same and at loan offer stage they requested letters from our employers asking for proof that they were not availing of any subsidy which is were the issue arose

Dolbhad · 20-04-2021 1:45am

We went with Ulster bank last year. All they required from us for loan offer and draw down was payslip showing we were not on the covid payment. Their salary cert’s last year did not ask for employer to confirm they are not on a covid payment.

They didn’t require any letters from employers confirming it. As people know, payslips won’t show if you were on a covid payment. There is also the possibility the people could be on it and an an employer may not tell you and you wouldn’t know.

So if you are on a payment and want to move on with a house try Ulster Bank. Also last month had a friend move job in the middle of an application. He didn’t know this was a big no no and he was on probation. Ulster bank accepted it and let them drawn down on probation.

I just think they are relaxed now as leaving Ireland.

greengrass88 · 20-04-2021 9:48am

mrbrightside11 wrote: »

Yes our AIP stated the same and at loan offer stage they requested letters from our employers asking for proof that they were not availing of any subsidy which is were the issue arose

Thanks for the reply! How were ptsb when that issue arose and how did you approach things to get them to change their minds? I was annoyed when I saw that in the aip as I thought it would be an absolute no from them from there on but perhaps they are willing to reconsider!

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

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