Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Mortgage Question

Options
  • 11-06-2007 10:23am
    #1
    whitelightrider
    Registered Users Posts: 3,100 ✭✭✭


    Hi folks,

    I was working for a company for 7 years before moving back to Galway 2 months ago as we got planning permission on a site close to where my other half lives.
    However, we have more or less been turned down by TSB because I am on 6 months probation with this new company, which means I have 4 months left. The HR manager here in this company is happy to speak with any mortgage provider and tell them that my probation period is just red tape and simply company policy and that I will be kept on and made permanent, but cant put it in writing as it's company policy.

    My question is, do all mortgage providers look at the probation period and deny because of it?


Comments

  • Options
    #2
    jubi lee
    Registered Users Posts: 292 ✭✭jubi lee


    yep they do. we recently went for mortgage and my other half was a month into 6 month probation. the only lender that would give us a mortgage was PTSB and thats only because i already had one with them. none of the others at all were interested.

    you'll just have to wait the few months..


  • Options
    #3
    2funki4wheelz
    Closed Accounts Posts: 203 ✭✭2funki4wheelz


    From my experience it would be an issue but anything can be appealled to their underwriting team - it would be on a case by case basis and it would depend on how the strong the case was outside of that. They can be stricter anyway on self-builds rather than you just buying a house already built as so many things can go wrong and costs can spiral.

    Obviously something in writing from your employer would be great but they may agree to speak with them on the phone. I had to go through the same for mine and I was waiting for permanancy in the bank I was getting the mortgage off!


  • Options
    #4
    whitelightrider
    Registered Users Posts: 3,100 ✭✭✭whitelightrider


    2funki4wheelz wrote:
    From my experience it would be an issue but anything can be appealled to their underwriting team - it would be on a case by case basis and it would depend on how the strong the case was outside of that. They can be stricter anyway on self-builds rather than you just buying a house already built as so many things can go wrong and costs can spiral.

    Obviously something in writing from your employer would be great but they may agree to speak with them on the phone. I had to go through the same for mine and I was waiting for permanancy in the bank I was getting the mortgage off!

    Its a right pain. The HR manager here said that she had to speak to them before on another person's behalf and this was fine with the mortgage provider. We had approval in principal from these people last year but had issues with the site so we had to wait.


  • Options
    #5
    jubi lee
    Registered Users Posts: 292 ✭✭jubi lee


    well get the HR person to speak to them so! and problem will be sorted hopefully...


  • Options
    #6
    ixoy
    Moderators, Entertainment Moderators Posts: 17,992 Mod ✭✭✭✭ixoy


    Related question - beyond the probation period, how much does it matter how long you're in a job for? Say I was to move to a higher-paying job: would it count for more or less that it paid more than a job that I was in for two years if there was a nominal wage increase?


  • Advertisement
  • Options
    #7
    whitelightrider
    Registered Users Posts: 3,100 ✭✭✭whitelightrider


    ixoy wrote:
    Related question - beyond the probation period, how much does it matter how long you're in a job for? Say I was to move to a higher-paying job: would it count for more or less that it paid more than a job that I was in for two years if there was a nominal wage increase?

    I dont think it matters as long as its a permanent position, and you have a reference from your last employer. Thats what I had to do with this new job.


Advertisement