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Curious - mortgage approval

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  • 01-09-2011 8:35am
    #1
    mariaalice
    Registered Users Posts: 12,493 ✭✭✭✭


    I have got my house last month, when I went looking for a mortgage ( after having sold my house ) I went to the EBS who I had my original mortgage with, a few thing (1) I have a perfect credit record (2) I have a permanent job for the pat 11 years (3) I had a large deposit and saving. I wasn't looking for huge multiplies of my income or a huge mortgage

    The EBS turned me down and I got the mortgage from KBC with no problem.

    The woman in my local EBS office could not give me an explication except to say that' head office' were turning down lots of applications and that she was getting new guidelines revising down wards the amounts people could get on a mortgage.

    My question is how come it was different for KBC?


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    #2
    Snakeblood
    Registered Users Posts: 4,466 ✭✭✭Snakeblood


    mariaalice wrote: »
    I have got my house last month, when I went looking for a mortgage ( after having sold my house ) I went to the EBS who I had my original mortgage with, a few thing (1) I have a perfect credit record (2) I have a permanent job for the pat 11 years (3) I had a large deposit and saving. I wasn't looking for huge multiplies of my income or a huge mortgage

    The EBS turned me down and I got the mortgage from KBC with no problem.

    The woman in my local EBS office could not give me an explication except to say that' head office' were turning down lots of applications and that she was getting new guidelines revising down wards the amounts people could get on a mortgage.

    My question is how come it was different for KBC?


    I'm not sure but I think KBC aren't state owned, EBS are. EBS must be terrified at the moment.


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    #3
    Victor
    Registered Users Posts: 78,399 ✭✭✭✭Victor


    KBC have offered riskier loans in the past, not quite at the sub-prime level, but certainly riskier. I think they have also been active in repossession.

    Many of the other banks don't have money to loan out.


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    #4
    DrPhilG
    Registered Users Posts: 12,328 ✭✭✭✭DrPhilG


    Yeah I'm chasing a mortgage at the minute (but not looking hopeful despite 50% deposit) and the mortgage advisor said that EBS are currently being merged with (I think) AIB? So they don't know what they can offer at the minute as they are in the middle of major changes.


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