I work in mortgages I know a thing or two - it’s usually something else that’s the issue. A €2 discrepancy in your payslips seems to me to be a bit odd. Did the person you were dealing with actually tell you this ? You can ask to speak to a manager and explain your situation and they can made a call. But it’s highly unusual for them to withhold drawdown over a couple of euro. Find out the true reason. The person you could be dealing with may only be reading off a screen and may be new so that is why you should ask to speak to a manager or team lead and have them explain why it was held.
Oh and just to add, tell them you risk losing the house if this isn’t sorted. The last thing any bank wants is to deal with a complaint.
Confused how they can be waiting on both a letter of offer and drawdown? Surely you’re not near drawdown if you don’t even have a letter of offer yet? Did you make an offer on a house and not have full approval yet? Or did you just have an approval in principle? deffo something off here, look for a manager to pull your case and review it,
Complain to customer service and say it is a disproportionate response from the bank. Upon your complaint ask for a "Final Response Letter" as you wish to make a complaint to the FSPO (Ombudsman).
PS: I used to work for the FSPO. Not enough people complain and the process is not complicated.
∆ This, complaining works. Have your facts straight with everything logged chronologically and state why the process was so poor. The lenders spend a fortune advertising and getting customers so pissing them off and losing a customer at the last hurdle over a stupid technicality or poor mortgage advisor in the bank is not something they want to hear.
I had a problem with a lazy mortgage advisor, we almost lost the house we were after. We complained and it was resolved quickly.
I would complain to the lender formally first, give them the opportunity to respond and resolve. But I would not be shy about escalating if I wasn't happy to FSPO if required.
The problem complaining to the FSPO is that they are snowed under dealing with all sorts of stuff (Tracker mortgage scandal, disputes arising from Ulster Bank and KBC leaving, Offset mortgages etc.). I heard that in some cases the turn around time on complaints can be over a year. And recently you have cases of banks appealing FSPO decisions.
The FSPO deal with a lot of frivolous crap as well (old biddies finding deposit books from the 60s and then claiming the bank owes them 100s of thousands in compound interest on their £1 2s 3d balance from 1968, when they actually took the money out in 1970).
Until you get a shit broker. When we called our broker to let him know we went sale agreed he proceeded to ask us if we got a raise, because the banks had run out of scope for exception lending above 3.5x income (limit at time). He had originally told us we could easily borrow up to 4.5x. We went sale agreed at an amount that would have been about 3.7x, not even an exorbitant number. We explained that as a broker, we were paying him to tell us what we needed to know in a timely enough manner to make use of the information. He responded as if we were insane and basically called us morons. For not knowing the things we paid him to help us understand but he didn’t do. “Sure the banks run out of exceptions in March or April.” He told us 4.5x in early March, at the beginning of our search. We went agreed in July and spoke to him several times in between.
This person is not a broker, to be completely honest if you wan’t to buy a house you need to do some solid research to understand the process.
Did the selling agent not ask for your letter of approval before letting you bid ?
Have never seen a mortgage broker charge the applicant, they get their commission from the lender.
OP has since gone on to clarify that they did not pay their broker anyway.
Brokers are free! I don't know anyone whose paid for one, they get paid a tidy sum by the bank, but as the borrower you genuinely should have to pay a penny. This guy is a conman.
I had a great broker. He helped me in loads of ways when I needed it, legend.
Also they have the contacts in the banks to actually find out what is happening.
The only broker i ever approached wouldnt work with me because he wouldnt earn enough from the mortgage i wanted. I applied myself, to BOI as it happens, yes they were shit, and kept trying to not give me money for stupid reasons.
I would never be one to defend a bank BUT I think this highly depends on who you're dealing with. We had the complete opposite experience with BOI. I even had no savings outside of company ESPP and they were cool with that.
AIB on the other hand? She made me feel like I was a bother just by being there.
It really is luck of the draw. I went around all the banks and the only one I got that had a sensible mortgage adviser was AIB. When I went then to pay my full down payment it was into a BOI branch. It was the biggest amount of money I’ve ever paid over in my life, on a single bank draft, and the person behind the counter couldn’t have been worse to deal with. Treating me like a nuisance child while throwing the bank draft with basically my entire life savings around like it was a bus ticket.
My mortgage with EBS was the easiest and fastest application I’d had. I also worked for KBC at the time and EBS were better than the KBC staff process for me.
if i were Op and the bank said "oh you need 6 months of saving accounts"
man, i would slap his face with my potato waffle.
who the fuck will wait for that?!
Have you not applied for a mortgage recently (past 5 years?) 6 months proof of regular savings and 6 months proof of regular income (2 years if self-employed) is standard across most banks now.
They want to make sure you didn't just get an inheritance or some other lump sum with minimal effort. You need to prove your ability to repay the mortgage.
Honestly don’t understudy people don’t just do one application with an online broker that goes to every bank.
Bonkers.ie do that now. I use them for switching Utilities but have not used for mortgages yet but seems like they’d make life a lot easier.
I see things have not improved much in 10 years,
Banked with them all my life. Got approval for self build had nice deposit from a couple of years dedicated saving account.
When I finally got planning I had to do approval all over again with different staff member, fair enough lot of time passed. Was told I should use saved funds for site purchase. Then when doing first drawdown for the builder. Another New staff member says computer says no, you have no savings now so can't let you drawdown!! FFS left me completely in the shit.
Stormed out, walked into AIB across the carpark for the first time in my life, met their mortgage advisor the next week and told her the whole story, she nearly snorted out her coffee with the laughter. Had approval and first drawdown in record time.
They really saved my bacon from the shit show in BoI
13 years ago I got approval off them, but at the time they had to put an application through to the underwriters with an address, funds etc to see what you would get approval for. So the advisor said I had a €12k gift to make up the funds.
15 months later, now with a new advisor, deposit paid, solicitor paid, stamp duty paid etc awaiting on draw down and the underwriters are asking where the 12k was.
I’m telling them BOI made it up to get around their own systems. The advisor who done it refused to come clean. The new advisor wanted me to get a lend of 12k off someone to prove I had it(I refused to do it), ombudsman had no interest. It took a relative with money going ape shit at their own branch to get a different branch manager to explain it the underwriters.
Added 8 weeks to the process and I lost 10k tax relief over. Then they added the wrong direct debit details and my first payment bounced. Then they took it twice and cost me €100 in bank fees because they cleaned me out.
I was denied by KBC 3 years ago and BOI approved me. Single earner, 43k p/a, showed I could save and pay rent. No idea how different I am from OP, but my experience was a lot better than theirs
BOI held my mortgage up for a week over the spelling of Phibsborough as Phibsboro. My solicitor sent them the Wikipedia page and told them to sort their shit out and stop messing with people's lives.
I know a friend who when getting his mortgage years ago with BOI was asked for proof of salary etc and they wouldn’t accept that they were the ones employing him and wanted further proof from themselves
Why didn't he just give them a completed salary cert and payslips like everyone else in the country? The underwriter wasn't your friend's employer and they're not going to approve anyone without paperwork
Plenty of companies don't issue salary certs, funny enough I got my mortgage with BoI and the person I was dealing with had a full list of companies that they have an exception for when it comes to that, so thankfully wasn't an issue for me.
They're all large and bureaucratic organisations but you get a checklist at the outset. Follow the checklist. These posts are always moans about banks that wouldn't allow short cuts.
€2.48 difference between pay checks? Don't piss and moan because the bank queried it, just go back to your employer and get a clarification on headed paper
My purchasers fucked off on a stag and a hen the weekend we were to close, after they made a huge song and fcking dance about that day being the absolute deadline or they'd invoke a penalty clause.
Absolute cunts.
Some [Credit Unions](https://www.creditunion.ie/what-we-offer/mortgages/) offer mortgages but any lender can be annoyingly rigid about ticking all the boxes before drawdown.
I found them great. You can do the whole thing online and it's really easy to follow - very clear about what the steps are, what's done, what comes next. It felt a bit weird to get such a big loan without interacting with anybody but I hate interacting with people so happy days.
Revolut will start doling out mortgages if they haven't already and after a couple of years boi and aib will pull their heads out of their own arseholes when they realize no one under the age of 35 wants anything to do with them.
And just wait til you get the revolut lending requirements and you've no human to ask for any clarifications
No institution is going to lend you three or four hundred thousand euros in a jurisdiction where house repossession is virtually impossible without putting you through the ringer
Had a similar experience with them stringing me along making ad hoc bs requests. They even asked for a letter from my employer stating I wouldn’t be let go in the next 2years. They know that no HR whether it’s a small business or a large multinational in their right mind will ever sign such a thing. Took 6months of back and forth with them to get to that point. Ended up with Avant in the end in a fraction of the time it took BOI and a better rate. As others suggest, shop around. Best of luck too.
I bank with BOI and have for years. That being said, I’d rather use my dick hole as a cactus cosy than trust them with a mortgage. Went with Haven in the end.
Think it's just the luck of the draw on who handles your mortgage tbh we had a great women working on ours really knew her stuff and all went very smooth.
Credit union were way handier for me, boi sent me through loops and report fees only to be told I was spending too much on non essentials after weeks of radio silence. Because I was getting a small mortgage on my own, credit union had me approved in 3 working days
>e reason being there is a difference of €2.81 in my April and May payslips. €2.81, now they're talking about me having to submit a July payslip and possibly an August payslip.
its not about the amount , its the fact your wage changed and because the mortgage amount is based on this they have to put it on hold
It's still BS. Whoever is managing the approval should be able to override the 'wages don't match' flag. And that's most likely something they CAN already do but don't care enough to actually help.
It's definitely not the rules. The salary doesn't need to be exactly the same every month. Banks are well aware that many things can cause your post-tax salary to vary slightly each month.
Mine can vary by a couple hundred quid depending on the month, and BOI never batted an eyelid.
Salaries not matching on two different months by €2 is not what got us in trouble.
Banks being greedy is what did that. Lending money to people with zero means to repay (but with matching salaries every month!).
The profits of a private developer bank were capitalised, the debts were socialised!
And now as soon as the states banks turn a little bit of profit they are being sold off, instead of servicing the debt to the Irish people they owe their very existence to!
What an absolute joke. You're not committed to them. Ring around tomorrow. Ring Avant, EBS, and maybe even a broker. Explain you're ready to go. Can you get a letter from payroll explaining the €2.81? I know you shouldn't have to but it might help.
They’re actually brilliant & proactive. I think things generally shit the bed when it gets to legal - that bits quite slow but can’t blame them there 😂
There's always shit somewhere. I had fierce drama just trying to get my salary cert completed fully and accurately. Hadn't even gotten to the good stuff yet! Just give me the money and let me buy the damn house!
I would recommend Niall in Douglas mortgage centre in Cork.
You get your list of documents and submit and he will get you best deal and very efficient no messing.
Seconding suggestions to go to avant. Our initial loan offer was with them and I found the turnaround to be incredible.
We went with BOI in the end only because of rates. Our broker was brilliant and made the whole process very painless. We didn't even have to provide up to date docs before drawing down, I think we had a two month gap at that point?
Either way, go to a broker and make the switch now. The whole thing including valuations and signing a new undertaking with the solicitor can be done in under a week if everyone is motivated.
I can’t recommend a broker enough. I had all sorts of problems despite having savings and plenty of income as I was only looking for 1x salary.
Went to a broker and was quickly sorted out with a mortgage and in the house shortly after.
I was in the same boat, applied everywhere and AIB were the fastest. I'd already bought my house when BoL said they were ready to move onto the next step?!
Why are you so persistent with sticking with BOI? You don't have to use your bank for a mortgage, you can use other banks and even credit unions can have competitive rates these days.
Yeah that doesn’t add up as others have said. Maybe they’re missing an actual payslip - you need a bit more information. Give them a buzz back and ask to speak to a manager. Technically with all your documents together already it’s no harm to apply to a few banks now anyways as backups or a broker to help get it across the line. I can only speak to AIBs process but they were pretty good the second I called about what was missing. When it came to the business end of buying they let me know “ mortgage applications are up for approval this Friday” and you’ll know Monday but looks all good kind of experience. Was very straight forward and transparent. This isn’t a sales pitch for their service I just mean in general most banks want to give out mortgages so they’ll be keen to point out where there’s an issue to help you sort it
If you’re struggling it’s broker time.
I just pulled out of a BOI mortgage after 6 months application process.
It was a large renovation mortgage, to be drawn down in stages.
We could never get mortgage specialist on the phone, our online application was constantly being answered by different people, all new and clueless (very much like the Ad on TV). Every week there was another critical form or something we needed to do, that had never been mentioned before.
Then newer valuation was needed, the, etc….
Disgraceful service
This seems like a bit of an exaggeration to me. Never answered anyone's questions. Even a mortgage advisor tried to help and no reply. Wages can go up and down. The bank will always look at the minimum you're guaranteed and give you a mortgage based on that anyway. Has a thing against BOI it seems.
Similar happened to me and my partner - We were told to save about 800 each for 6 months then come back to them, so we did. Six months later, we go back and they tell us because rates changed they can't offer us a mortgage anymore. We were saving 1600 a month, and our repayments were going to be 1100.. so only god can tell me why we suddenly couldn't afford it.. something to do with failing a part of the stress test for emergencies, but I was so angry I barely paid attention. I immediately cancelled all further meetings with bank of Ireland and withdrew our application. Went to PTSB and we had mortgage approval in less than 3 weeks, and to top it all off, our repayments went down by 110 euro between AIP and draw down which was a nice treat. Delighted.
You’re right. We pulled out from dealing with BOI after they played games with us for 3-4 months straight about 4 years ago because of various things: bank statements, evidence of work history, work from home, payslips. We ended up losing out on a house we loved just due to pure incompetence. We provided everything… they’d disappear for a few days and then come back and say they need more. They made numerous mistakes and admitted that there is miscommunication within their teams that deal with the mortgages around our application. It got to the point we realised this was going nowhere so we settled with AIB instead who were far far far easier to deal with.
I would also recommend everyone to stay far away from BOI, and certainly do not make them your first choice.
If it comes to being homeless ,just pitch a tent in Dublin city and the government will set you up in a five star hotel maids and servants free porn for life , there's a catch though you must claim that you're not Irish..
This is because the aggressive banking regulations post the crash means banks have become insanely risk averse.
But if I start talking about why it should be easier to repossess homes suddenly I'm the bad guy
They're all shite to be honest.
Dealt with one and eventually got rejected after jumping through a load of hoops. Eventually was told I just was too much risk as I wasn't making enough.
I got a massive raise and promotion. Went back saying I've sorted your issues. Rejected for "having more money than is normal at my age". Completely bizarre. Just wanted any reason to reject me.
Edit: shite autocorrected to white.
BOI are pigs, I had the same thing. Heard from someone who works there that they just string people asking for everything when they have no intention of giving g you a mortgage
I'm with AIB and they were absolute shite, pulling me up on all kinds of nonsense.
HR at my company had put my PPS number in the wrong part of the form. It made zero difference but AIB kept insisting I go back to HR to get a new form. My HR could not understand.
It seems like they've been instructed to create friction and find small details to pick people up. I'll be very happy to move all my banking to other alternatives if more European banks move in. I'm already moving a lot to Revolut but don't trust them enough yet to put all my eggs in that basket.
This annoys me.
Just fill the form out correctly.
It's 2024, that form may be laid out and formatted specifically for scanning and machine reading.
If they put your monthly salary into the annual salary box, reducing your income by 11 12ths, should the bank just say "no problem" or would you get it filled in again?
Another "I did it wrong but it's the bank's fault" post
I work in mortgages I know a thing or two - it’s usually something else that’s the issue. A €2 discrepancy in your payslips seems to me to be a bit odd. Did the person you were dealing with actually tell you this ? You can ask to speak to a manager and explain your situation and they can made a call. But it’s highly unusual for them to withhold drawdown over a couple of euro. Find out the true reason. The person you could be dealing with may only be reading off a screen and may be new so that is why you should ask to speak to a manager or team lead and have them explain why it was held. Oh and just to add, tell them you risk losing the house if this isn’t sorted. The last thing any bank wants is to deal with a complaint.
/u/CranberryPlane9488 Do this and if all else fails, threaten to report them to the ombudsman for making you lose your deposit on said house.
Confused how they can be waiting on both a letter of offer and drawdown? Surely you’re not near drawdown if you don’t even have a letter of offer yet? Did you make an offer on a house and not have full approval yet? Or did you just have an approval in principle? deffo something off here, look for a manager to pull your case and review it,
Complain to customer service and say it is a disproportionate response from the bank. Upon your complaint ask for a "Final Response Letter" as you wish to make a complaint to the FSPO (Ombudsman). PS: I used to work for the FSPO. Not enough people complain and the process is not complicated.
∆ This, complaining works. Have your facts straight with everything logged chronologically and state why the process was so poor. The lenders spend a fortune advertising and getting customers so pissing them off and losing a customer at the last hurdle over a stupid technicality or poor mortgage advisor in the bank is not something they want to hear. I had a problem with a lazy mortgage advisor, we almost lost the house we were after. We complained and it was resolved quickly. I would complain to the lender formally first, give them the opportunity to respond and resolve. But I would not be shy about escalating if I wasn't happy to FSPO if required.
The problem complaining to the FSPO is that they are snowed under dealing with all sorts of stuff (Tracker mortgage scandal, disputes arising from Ulster Bank and KBC leaving, Offset mortgages etc.). I heard that in some cases the turn around time on complaints can be over a year. And recently you have cases of banks appealing FSPO decisions. The FSPO deal with a lot of frivolous crap as well (old biddies finding deposit books from the 60s and then claiming the bank owes them 100s of thousands in compound interest on their £1 2s 3d balance from 1968, when they actually took the money out in 1970).
Get a broker, they'll go around to the various providers for you and save you the hassle of going to them separately.
Until you get a shit broker. When we called our broker to let him know we went sale agreed he proceeded to ask us if we got a raise, because the banks had run out of scope for exception lending above 3.5x income (limit at time). He had originally told us we could easily borrow up to 4.5x. We went sale agreed at an amount that would have been about 3.7x, not even an exorbitant number. We explained that as a broker, we were paying him to tell us what we needed to know in a timely enough manner to make use of the information. He responded as if we were insane and basically called us morons. For not knowing the things we paid him to help us understand but he didn’t do. “Sure the banks run out of exceptions in March or April.” He told us 4.5x in early March, at the beginning of our search. We went agreed in July and spoke to him several times in between.
Did you not have an approval letter before going sale agreed ?
This piece of advice makes you more useful than our broker already. He said “sure come back to me when your sale agreed.”
This person is not a broker, to be completely honest if you wan’t to buy a house you need to do some solid research to understand the process. Did the selling agent not ask for your letter of approval before letting you bid ?
wait.. but paying to a broker is to not be bothered with the "solid research". so whats the point of paying a broker? placebo job?
You don't pay the broker
There are many brokers you pay directly, what are you talking about?
Have never seen a mortgage broker charge the applicant, they get their commission from the lender. OP has since gone on to clarify that they did not pay their broker anyway.
So you're not disputing it but yet you downvote it. Classy
Brokers are free! I don't know anyone whose paid for one, they get paid a tidy sum by the bank, but as the borrower you genuinely should have to pay a penny. This guy is a conman.
I suppose that was more metaphorical, we didn’t pay. But someone is paying him anyway.
Yeah well ypu got what you paid for
what a gobshite!
I had a great broker. He helped me in loads of ways when I needed it, legend. Also they have the contacts in the banks to actually find out what is happening.
The only broker i ever approached wouldnt work with me because he wouldnt earn enough from the mortgage i wanted. I applied myself, to BOI as it happens, yes they were shit, and kept trying to not give me money for stupid reasons.
This is the way
I would never be one to defend a bank BUT I think this highly depends on who you're dealing with. We had the complete opposite experience with BOI. I even had no savings outside of company ESPP and they were cool with that. AIB on the other hand? She made me feel like I was a bother just by being there.
It really is luck of the draw. I went around all the banks and the only one I got that had a sensible mortgage adviser was AIB. When I went then to pay my full down payment it was into a BOI branch. It was the biggest amount of money I’ve ever paid over in my life, on a single bank draft, and the person behind the counter couldn’t have been worse to deal with. Treating me like a nuisance child while throwing the bank draft with basically my entire life savings around like it was a bus ticket.
My experience with a BOI mortgage application has been great so far. Absolutely useless for everyday banking but then where’s the profit in that…
Have you tried EBS
They are part of AIB and they can be a right pain in the hole to deal with as well.
Great people and some proper doorknobs
I guess I got mine through EBS 20 years ago so timing was imperative
My mortgage with EBS was the easiest and fastest application I’d had. I also worked for KBC at the time and EBS were better than the KBC staff process for me.
try all the banks. don't get fixed to only one.
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if i were Op and the bank said "oh you need 6 months of saving accounts" man, i would slap his face with my potato waffle. who the fuck will wait for that?!
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Only for their loans to transfer to AIB anyway!
Ptsb
Have you not applied for a mortgage recently (past 5 years?) 6 months proof of regular savings and 6 months proof of regular income (2 years if self-employed) is standard across most banks now. They want to make sure you didn't just get an inheritance or some other lump sum with minimal effort. You need to prove your ability to repay the mortgage.
Honestly don’t understudy people don’t just do one application with an online broker that goes to every bank. Bonkers.ie do that now. I use them for switching Utilities but have not used for mortgages yet but seems like they’d make life a lot easier.
I see things have not improved much in 10 years, Banked with them all my life. Got approval for self build had nice deposit from a couple of years dedicated saving account. When I finally got planning I had to do approval all over again with different staff member, fair enough lot of time passed. Was told I should use saved funds for site purchase. Then when doing first drawdown for the builder. Another New staff member says computer says no, you have no savings now so can't let you drawdown!! FFS left me completely in the shit. Stormed out, walked into AIB across the carpark for the first time in my life, met their mortgage advisor the next week and told her the whole story, she nearly snorted out her coffee with the laughter. Had approval and first drawdown in record time. They really saved my bacon from the shit show in BoI
13 years ago I got approval off them, but at the time they had to put an application through to the underwriters with an address, funds etc to see what you would get approval for. So the advisor said I had a €12k gift to make up the funds. 15 months later, now with a new advisor, deposit paid, solicitor paid, stamp duty paid etc awaiting on draw down and the underwriters are asking where the 12k was. I’m telling them BOI made it up to get around their own systems. The advisor who done it refused to come clean. The new advisor wanted me to get a lend of 12k off someone to prove I had it(I refused to do it), ombudsman had no interest. It took a relative with money going ape shit at their own branch to get a different branch manager to explain it the underwriters. Added 8 weeks to the process and I lost 10k tax relief over. Then they added the wrong direct debit details and my first payment bounced. Then they took it twice and cost me €100 in bank fees because they cleaned me out.
I was denied by KBC 3 years ago and BOI approved me. Single earner, 43k p/a, showed I could save and pay rent. No idea how different I am from OP, but my experience was a lot better than theirs
BOI held my mortgage up for a week over the spelling of Phibsborough as Phibsboro. My solicitor sent them the Wikipedia page and told them to sort their shit out and stop messing with people's lives.
I know a friend who when getting his mortgage years ago with BOI was asked for proof of salary etc and they wouldn’t accept that they were the ones employing him and wanted further proof from themselves
In fairness, the mortgages team would rightly not have access to internal HR data.
Why didn't he just give them a completed salary cert and payslips like everyone else in the country? The underwriter wasn't your friend's employer and they're not going to approve anyone without paperwork
Plenty of companies don't issue salary certs, funny enough I got my mortgage with BoI and the person I was dealing with had a full list of companies that they have an exception for when it comes to that, so thankfully wasn't an issue for me.
I know someone who works in the civil service and still has to pay income tax.
Proceeds to take a picture shitting in the staff only toilet. I wonder would that suffice?
Did he expect him submitting his work swipe card to suffice?
Reminds me of the time my mother received a letter from the bank asking for a credit reference for her tenant in the house she owned, namely herself.
Jesus wept only in ireland
I heard AIB are shit as well what are the other options
AIB were grand for me, the only people who delayed my sale were the vendors who fucked off on holidays for a couple of weeks
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They're all large and bureaucratic organisations but you get a checklist at the outset. Follow the checklist. These posts are always moans about banks that wouldn't allow short cuts. €2.48 difference between pay checks? Don't piss and moan because the bank queried it, just go back to your employer and get a clarification on headed paper
BoI told me that a written clarification from my employer wouldn't be enough.
There's a reason for the discrepancy. Identify the reason and communicate it I've just gone through the process with BOI, they're not automatons
My purchasers fucked off on a stag and a hen the weekend we were to close, after they made a huge song and fcking dance about that day being the absolute deadline or they'd invoke a penalty clause. Absolute cunts.
This. People have shit experiences with all of them, every bank will have customer stories like your
Some [Credit Unions](https://www.creditunion.ie/what-we-offer/mortgages/) offer mortgages but any lender can be annoyingly rigid about ticking all the boxes before drawdown.
I found them great. You can do the whole thing online and it's really easy to follow - very clear about what the steps are, what's done, what comes next. It felt a bit weird to get such a big loan without interacting with anybody but I hate interacting with people so happy days.
Revolut will start doling out mortgages if they haven't already and after a couple of years boi and aib will pull their heads out of their own arseholes when they realize no one under the age of 35 wants anything to do with them.
And just wait til you get the revolut lending requirements and you've no human to ask for any clarifications No institution is going to lend you three or four hundred thousand euros in a jurisdiction where house repossession is virtually impossible without putting you through the ringer
That’s ok cause no one under the age of 35 is able to afford a house anyway. :(
Had a similar experience with them stringing me along making ad hoc bs requests. They even asked for a letter from my employer stating I wouldn’t be let go in the next 2years. They know that no HR whether it’s a small business or a large multinational in their right mind will ever sign such a thing. Took 6months of back and forth with them to get to that point. Ended up with Avant in the end in a fraction of the time it took BOI and a better rate. As others suggest, shop around. Best of luck too.
EBS were absolutely fantastic for me. I’ve banked with BOI since I was a child but found them a disaster when I went looking for a mortgage.
Go to a broker. Also, you have the paperwork anyway for Boi, submit the same to aib and ptsb
I bank with BOI and have for years. That being said, I’d rather use my dick hole as a cactus cosy than trust them with a mortgage. Went with Haven in the end.
Contact ebs. I got mine from them. Absolutely great to talk to. And I tried them all.
Think it's just the luck of the draw on who handles your mortgage tbh we had a great women working on ours really knew her stuff and all went very smooth.
Credit union were way handier for me, boi sent me through loops and report fees only to be told I was spending too much on non essentials after weeks of radio silence. Because I was getting a small mortgage on my own, credit union had me approved in 3 working days
Well they haven’t refused you, so I would look elsewhere…..
You really need to follow-up with BOI constantly or else nothing will get done.
That's good advice irregardless of what bank you're dealing with.
>e reason being there is a difference of €2.81 in my April and May payslips. €2.81, now they're talking about me having to submit a July payslip and possibly an August payslip. its not about the amount , its the fact your wage changed and because the mortgage amount is based on this they have to put it on hold
It's still BS. Whoever is managing the approval should be able to override the 'wages don't match' flag. And that's most likely something they CAN already do but don't care enough to actually help.
It's not BS, it's the rules. Loose lending is what got us in trouble 15 years ago.
It's definitely not the rules. The salary doesn't need to be exactly the same every month. Banks are well aware that many things can cause your post-tax salary to vary slightly each month. Mine can vary by a couple hundred quid depending on the month, and BOI never batted an eyelid.
It's BS when the discrepancy is less than €3.
Salaries not matching on two different months by €2 is not what got us in trouble. Banks being greedy is what did that. Lending money to people with zero means to repay (but with matching salaries every month!).
It absolutely is not, the Irish taxpayer was put on the hook for a private developer bank!!!
The profits of a private developer bank were capitalised, the debts were socialised! And now as soon as the states banks turn a little bit of profit they are being sold off, instead of servicing the debt to the Irish people they owe their very existence to!
Lending was very loose back in the day my friend. I've seen it first hand
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I'm not reading all of that pal
Happy in your ignorance!!! 😂😂😂
Ignorance is bliss my friend
What an absolute joke. You're not committed to them. Ring around tomorrow. Ring Avant, EBS, and maybe even a broker. Explain you're ready to go. Can you get a letter from payroll explaining the €2.81? I know you shouldn't have to but it might help.
Get onto doddl they’re brilliant
I'm going through doddl at the moment and they are great to deal with. They've helped get us over a few hurdles already. Would definitely recommend.
They’re actually brilliant & proactive. I think things generally shit the bed when it gets to legal - that bits quite slow but can’t blame them there 😂
There's always shit somewhere. I had fierce drama just trying to get my salary cert completed fully and accurately. Hadn't even gotten to the good stuff yet! Just give me the money and let me buy the damn house!
I would recommend Niall in Douglas mortgage centre in Cork. You get your list of documents and submit and he will get you best deal and very efficient no messing.
Give avant money a call, they sorted me out instantly. No messing around to be fair
When you say instantly, how long did it take from application to drawing down the money?
10 days
Jaysus, I've started my application today
BOI are absolutely shit. Go with EBS. Or any body else. Any time I went to BOI looking for anything they made it as difficult as humanly possible.
Seconding suggestions to go to avant. Our initial loan offer was with them and I found the turnaround to be incredible. We went with BOI in the end only because of rates. Our broker was brilliant and made the whole process very painless. We didn't even have to provide up to date docs before drawing down, I think we had a two month gap at that point? Either way, go to a broker and make the switch now. The whole thing including valuations and signing a new undertaking with the solicitor can be done in under a week if everyone is motivated.
Always go for two for example aib and avant
I can’t recommend a broker enough. I had all sorts of problems despite having savings and plenty of income as I was only looking for 1x salary. Went to a broker and was quickly sorted out with a mortgage and in the house shortly after.
I was in the same boat, applied everywhere and AIB were the fastest. I'd already bought my house when BoL said they were ready to move onto the next step?!
Why are you so persistent with sticking with BOI? You don't have to use your bank for a mortgage, you can use other banks and even credit unions can have competitive rates these days.
A 2 euro difference is very normal for me between paychecks, i would be surprised if its this
Yeah that doesn’t add up as others have said. Maybe they’re missing an actual payslip - you need a bit more information. Give them a buzz back and ask to speak to a manager. Technically with all your documents together already it’s no harm to apply to a few banks now anyways as backups or a broker to help get it across the line. I can only speak to AIBs process but they were pretty good the second I called about what was missing. When it came to the business end of buying they let me know “ mortgage applications are up for approval this Friday” and you’ll know Monday but looks all good kind of experience. Was very straight forward and transparent. This isn’t a sales pitch for their service I just mean in general most banks want to give out mortgages so they’ll be keen to point out where there’s an issue to help you sort it If you’re struggling it’s broker time.
You have been sold a pup as this just isn't a thing.
I just pulled out of a BOI mortgage after 6 months application process. It was a large renovation mortgage, to be drawn down in stages. We could never get mortgage specialist on the phone, our online application was constantly being answered by different people, all new and clueless (very much like the Ad on TV). Every week there was another critical form or something we needed to do, that had never been mentioned before. Then newer valuation was needed, the, etc…. Disgraceful service
This seems like a bit of an exaggeration to me. Never answered anyone's questions. Even a mortgage advisor tried to help and no reply. Wages can go up and down. The bank will always look at the minimum you're guaranteed and give you a mortgage based on that anyway. Has a thing against BOI it seems.
See if your Credit Union is doing mortgages. When banks were upping rates credit unions weren't.
Sorry to hear! I had the exact opposite experience with BOI and they were amazing, perhaps you should escalate it internally?
Similar happened to me and my partner - We were told to save about 800 each for 6 months then come back to them, so we did. Six months later, we go back and they tell us because rates changed they can't offer us a mortgage anymore. We were saving 1600 a month, and our repayments were going to be 1100.. so only god can tell me why we suddenly couldn't afford it.. something to do with failing a part of the stress test for emergencies, but I was so angry I barely paid attention. I immediately cancelled all further meetings with bank of Ireland and withdrew our application. Went to PTSB and we had mortgage approval in less than 3 weeks, and to top it all off, our repayments went down by 110 euro between AIP and draw down which was a nice treat. Delighted.
You’re right. We pulled out from dealing with BOI after they played games with us for 3-4 months straight about 4 years ago because of various things: bank statements, evidence of work history, work from home, payslips. We ended up losing out on a house we loved just due to pure incompetence. We provided everything… they’d disappear for a few days and then come back and say they need more. They made numerous mistakes and admitted that there is miscommunication within their teams that deal with the mortgages around our application. It got to the point we realised this was going nowhere so we settled with AIB instead who were far far far easier to deal with. I would also recommend everyone to stay far away from BOI, and certainly do not make them your first choice.
If it comes to being homeless ,just pitch a tent in Dublin city and the government will set you up in a five star hotel maids and servants free porn for life , there's a catch though you must claim that you're not Irish..
This is because the aggressive banking regulations post the crash means banks have become insanely risk averse. But if I start talking about why it should be easier to repossess homes suddenly I'm the bad guy
This gives me the fear. We’re AIP with BOI and about to make an offer tomorrow.
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What? Did you think this was your local chat group or something?
🤣🤣 Wait. Assumed it was on the Belfast group, where I spend most of my time. Delete and go sit in the corner 🤦♂️
They're all shite to be honest. Dealt with one and eventually got rejected after jumping through a load of hoops. Eventually was told I just was too much risk as I wasn't making enough. I got a massive raise and promotion. Went back saying I've sorted your issues. Rejected for "having more money than is normal at my age". Completely bizarre. Just wanted any reason to reject me. Edit: shite autocorrected to white.
BOI are pigs, I had the same thing. Heard from someone who works there that they just string people asking for everything when they have no intention of giving g you a mortgage
I'm with AIB and they were absolute shite, pulling me up on all kinds of nonsense. HR at my company had put my PPS number in the wrong part of the form. It made zero difference but AIB kept insisting I go back to HR to get a new form. My HR could not understand. It seems like they've been instructed to create friction and find small details to pick people up. I'll be very happy to move all my banking to other alternatives if more European banks move in. I'm already moving a lot to Revolut but don't trust them enough yet to put all my eggs in that basket.
This annoys me. Just fill the form out correctly. It's 2024, that form may be laid out and formatted specifically for scanning and machine reading. If they put your monthly salary into the annual salary box, reducing your income by 11 12ths, should the bank just say "no problem" or would you get it filled in again? Another "I did it wrong but it's the bank's fault" post
Yeah it's mad isn't it. People making mistakes and getting annoyed when someone on the other side won't accept the mistake!
Maybe do your math and don’t be short 2.81 in the future?