AIB mortgage approval, CV requested.

khards

Hi,

Is it usual for AIB to request your CV as part of their mortgage approval process?
We have to submit a lot of details, but I would have thought that this was quite unusual and intrusive.

D3PO

khards wrote: »

Hi,

Is it usual for AIB to request your CV as part of their mortgage approval process?
We have to submit a lot of details, but I would have thought that this was quite unusual and intrusive.

never heard of that before but why do you that its intrusive ? your looking to borrow hundreds of thousands of euro from them, they deserve to know who they are dealing with dont you think ?

khards

D3PO wrote: »

never heard of that before but why do you that its intrusive ? your looking to borrow hundreds of thousands of euro from them, they deserve to know who they are dealing with dont you think ?

Not quite, just 50k maximum.

We have already submitted lots of paperwork, I feel they are just stalling the process for the sake of it and giving us a 'Slow No' answer.

It has been 8 weeks now and we haven't even got a sanction in principal.

RATM

I haven't heard of it before and wouldn't call it normal but at the end of the day they can set whatever terms and conditions they want to lend you money, if you don't comply then they won't give you approval.

In short if you want the loan then give then your CV. Be aware that they are probably going to be using it to see how your career has progressed, i.e. promotions mean pay rises and they want to assess how likely you are to get more of these into the future by using your previous track record as a guide.

D3PO

khards wrote: »

Not quite, just 50k maximum.

We have already submitted lots of paperwork, I feel they are just stalling the process for the sake of it and giving us a 'Slow No' answer.

It has been 8 weeks now and we haven't even got a sanction in principal.

something sounds a bit out of kilter here. Im very surprised they are dragging there heels on such an amount.

what age are you what is your salary, how much of a deposit are you putting forward ? do you have loans, credit card balances ? a bad credit history , in contract work ?

50k is a pittance in relative house mortgage terms. If you are having to jump through hoops after 8 weeks then theres something else afoot IMO

MadsL

Perhaps you'll get a mortgage and a job offer?

Skybox

I recently got a mortage with AIB. The application from start to finish (initial meeting with AIB to mortgage drawdown) took about 4 weeks. Never a mention of a CV. Definitely something else going on!

khards

D3PO wrote: »

something sounds a bit out of kilter here. Im very surprised they are dragging there heels on such an amount.

what age are you what is your salary, how much of a deposit are you putting forward ? do you have loans, credit card balances ? a bad credit history , in contract work ?

50k is a pittance in relative house mortgage terms. If you are having to jump through hoops after 8 weeks then theres something else afoot IMO

House value Approximation €175k
Deposit €150k
Mortgage required €50k
Age 37
Salary 37k

Good credit history, no credit cards.

I have one loan in the UK with £10k outstanding which will be paid back once we have bought our house.
The reason for the loan was to go forward with another house purchase that fell through. We have paid back over £5k of this in the last 12 months.
[edit] By the time they have finished the sanction in principal it would more likely be nothing outstanding:D

leeomurchu

D3PO wrote: »

something sounds a bit out of kilter here. Im very surprised they are dragging there heels on such an amount.

what age are you what is your salary, how much of a deposit are you putting forward ? do you have loans, credit card balances ? a bad credit history , in contract work ?

50k is a pittance in relative house mortgage terms. If you are having to jump through hoops after 8 weeks then theres something else afoot IMO

Now that's intrusive.

Megs_ 2013

Are you an irish citizen?

Also are you self employed?

leeomurchu

khards wrote: »

House value Approximation €175k
Deposit €150k
Mortgage required €50k
Age 37
Salary 37k

Good credit history, no credit cards.

I have one loan in the UK with £10k outstanding which will be paid back once we have bought our house.
The reason for the loan was to go forward with another house purchase that fell through. We have paid back over £5k of this in the last 12 months.
[edit] By the time they have finished the sanction in principal it would more likely be nothing outstanding:D

So you've no problem telling a random stranger all that but you have an issue with a bank asking for your CV. :eek:

khards

I am not self employed and not an Irish citizen, not that this should matter on a mortgage application with equal rights and all of that bollocks.

TBH,

1) I could make up whatever crap I wanted on my CV.
2) I may not want them contacting old employers.
3) I may have had an embarrassing occupation.

In part of the bank I feel that this is a pointless exercise.

D3PO

khards wrote: »

House value Approximation €175k
Deposit €150k
Mortgage required €50k
Age 37
Salary 37k

Good credit history, no credit cards.

I have one loan in the UK with £10k outstanding which will be paid back once we have bought our house.
The reason for the loan was to go forward with another house purchase that fell through. We have paid back over £5k of this in the last 12 months.
[edit] By the time they have finished the sanction in principal it would more likely be nothing outstanding:D

jesus your AAA material. Whoever is managing your application is acting the muppet by the sounds of it.

very weird.

hfallada

Don't know about Ireland. But in the us. If you have never had a credit card or loan. You don't have a credit history. Meaning in the us to get a loan you have get a credit card/loan to build a history.

If I were you I get your credit report as it will tell if you if they have even checked your credit history yet.

Also have you tried to get a mortgage with a broker. They might be able to speed it up

Megs_ 2013

khards wrote: »

I am not self employed and not an Irish citizen, not that this should matter on a mortgage application with equal rights and all of that bollocks.

TBH,

1) I could make up whatever crap I wanted on my CV.
2) I may not want them contacting old employers.
3) I may have had an embarrassing occupation.

In part of the bank I feel that this is a pointless exercise.

Your dead right it is pointless

khards

I have not had or needed any credit in Ireland, the only thing I have had is a contract on my mobile broadband dongle.
I did provide them with a credit report.


I suppose that I am just a little tired of the application process. Last time we had a mortgage we applied online and got a mortgage in principal within a week.

jonnybravo

When we applied for a Mortgage with AIB they asked my other half for a CV but this was just cause she was on a fixed term contract. They didn't ask me for one.

RMC10

I went for approval to AIB last year. While they didn't ask for a CV they did ask questions around my level of education and professional courses I was persuing. None of the other lender did this.

senordingdong

Did you ask them what they wanted it for?
Who it is for and what he/she intends on doing with it?

killers1

khards wrote: »

Hi,

Is it usual for AIB to request your CV as part of their mortgage approval process?
We have to submit a lot of details, but I would have thought that this was quite unusual and intrusive.

This is a common request from AIB. They are not looking for your full CV they just want either your employment history and/or qualifications details. The reason they have requested this is centered around your occupation or length of time with current employer. They are looking to build up a profile of you as an applicant around your previous working experience etc. They generally look for it to assess what the chances of you obtaining a job in the future and possible earning potential should you be made unemployed from your current role. It's not necessarily a 'slow no' but the fact that they've come back and asked for this means they are looking for comfort around the application in order to approve it for you. It should never have taken 8 weeks though to get to this point...

cgc5483

We were asked as well in 2008. Was towards the end before we drew down the mortgage