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Banks Open For Business - My Arse!

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  • 08-06-2009 2:15pm
    #1
    bistro
    Closed Accounts Posts: 21 ✭


    Just received confirmation by post today that my application for a 100k mortage was rejected. I make 30k a year, own 2 profitable and successfull companies, owe about 5k personally in total and am currently living rent free. I have 10k deposit saved and AIB are not interested!:mad:
    (I gernarally bank with BOI, however, AIB are the only ones that would quote on a mortage below 150k)

    Mortage repayments on the above ammount are 100quid (approx) a week!

    Some please explain why tax payers money is being spent by banking institutes on massive advertising campaigns saying " Hey, were open for business, dont worry"

    Utter bullsh1t once again.:mad:


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    #2
    RoadKillTs
    Closed Accounts Posts: 1,710 ✭✭✭RoadKillTs


    How long have you been in business?
    No offense but it sounds strange that you are running two successful companies but you are only making 30k!!

    I agree the whole "bank open for business" is total shi*e.
    They just are not lending. They are not taking the risk. Simply as.

    It is unfair especially as we are injecting our own taxes into them.

    Give you a good one. I was turned down for a 4k loan on a 35k salary with no mortgage and clean ICB report!!

    /end rant


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    #3
    bistro
    Closed Accounts Posts: 21 ✭bistro


    RoadKillTs wrote: »
    Give you a good one. I was turned down for a 4k loan on a 35k salary with no mortgage and clean ICB report!!


    Balls to that! And your credit sounds clean as a whistle!


    1st business has being going 4 years now with 3 years audited accounts. Second business only 2 years. I take a salary of 30k because its all i need. Ive always ploughed cash back into building and imporving the companies. (In relation to getting a mortgage, this probally doesnt make any sense whatsoever to some underwriter in a darkened room somewhere!)

    Best bit is AIB wont even give me the smallest hint as to why they refused the application - would a little hint not be a productive undertaking for all involved???

    Anyone know where one might find info on that governement mortgage thing they were ranting about months back???


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    #4
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    What's the LTV of the Loan vs Value of the Property?


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    #5
    bistro
    Closed Accounts Posts: 21 ✭bistro


    stepbar wrote: »
    What's the LTV of the Loan vs Value of the Property?

    Will get the property for approx 110k. I have 10k, so LTV will be 92%.

    Update: Just got a call back from lady in AIB who says to me the main reason for not lending is because im self employed and in the current climate, thats a very unsecure profession!


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    #6
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    bistro wrote: »
    Will get the property for approx 110k. I have 10k, so LTV will be 92%.

    Update: Just got a call back from lady in AIB who says to me the main reason for not lending is because im self employed and in the current climate, thats a very unsecure profession!

    great answer.....


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