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 approved with KBC but homebond issue

Options
  • 17-06-2011 12:41pm
    #1
    mcmorrowg
    Registered Users Posts: 37 ✭


    Hi,

    I recently paid a refundable deposit on an apartment in Dublin. I have over 10% in saving to satisfy that requirement with banks.

    I phoned the banks before hand to see if I would be approved for the amount I need and all of them said yes. AIB and BOI have since come back and said I don't have enough disposable income.
    Apparently €1900 a month is not enough for a €1,200 mortgage. The €1,900 is what I have actually saved on average over the last 6 months and is proven with bank statements. I have since appealed the AIB but not holding out much hope.
    All this is based on a single income and not including any rental income! Rental income would be in the region of €1,000 a month for 2 rooms.

    The good news is I have been approved for a mortgage with KBC for the amount I require but there seems to be an issue with homebond. I am buying the apartment of a receiver so apparently the homebond is replaced with the construction industry of Ireland bond. The construction Industry bond is not accepted by KBC so they won't issue a mortgage on that property, any other property is fine though!

    Has anyone had this problem and discovered a way around the problem with KBC, they have been great to deal with except this issue?

    I have my eye set on this apartment so need to try and find away of getting the homebond issue.

    Kind Regards


Advertisement