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Affordable Housing

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  • 18-09-2009 1:36pm
    #1
    laura13
    Closed Accounts Posts: 1 ✭


    Hi everyone

    I have a query about affordable housing!

    Myself and my boyfriend have savings of 20k but cannot get a mortgage due to him having bad credit rating on the ICB. We were looking into the affordable housing with fingal co co. I see from the info on the website that you need to get loan approval from one of the participating banks but obviously we cant do this. Fingal co co gives loans out too, but would they give us one because he has a bad credit rating.

    Can any1 shed some light on this?

    P.S am new to this, sorry if I have posted in the wrong place.


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    #2
    JJ
    Registered Users Posts: 2,055 ✭✭✭JJ


    The other 3 county councils don't require mortgage pre-approval IME but you're going to need it sooner or later if you're going down the route of affordable housing. You may want to consult with a financial advisor on improving your boyfriend's credit rating. You can get free advice at itsyourmoney.ie.


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    #3
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    well if your boyfriend has a bad credit rating with the ICB then really you have to think is it the right time to be buying ?

    personally speaking id want him to prove over a prolonged period that he can be responsible with money, if he messes up again your left to pick up the tab with him.


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    #4
    Moonbeam
    Moderators, Education Moderators, Society & Culture Moderators Posts: 18,953 Mod ✭✭✭✭Moonbeam


    In the last budget didn't the governemnt do something for people being refused mortgages by the banks?
    I forget the details but worth skimming the last budget for it.


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    #5
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    Moonbeam wrote: »
    In the last budget didn't the governemnt do something for people being refused mortgages by the banks?
    I forget the details but worth skimming the last budget for it.

    They set up a whole new 'lending bank' but it was pulled because of lack of interest (I think they had about 140 expressions of interest that translated into 6 or 7 actual applications, of which all were refused for not meeting various criteria).


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