mortgage declined with ptsb

patsy sally

hi guys

myself and my husband applied for a mortgage recently with ptsb. He is self employed so they didnt even look at him but i have a hse job and am permanent in that job for close on ten years.
I have just also found out im pregnant. As I am the main applicant on the joint mortgage, do I have to tell the bank that I am pregnant and second of all can they refuse a mortgage on the basis of me being pregnant.
If I didn't tell the bank and they eventually found out, can they withdraw the offer, should the loan be approved.
I would have the stautory 6 months paid maternity leave and 16 weeks unpaid leave if I wish, but I don't want to tell the bank.
Anyone any advise please, I don't know what to do.

thanks

Trish56

I don't see any reason that you have to tell permanent tsb that you are pregnant. There is no question on the application form asking 'Are you pregnant'

Best of luck with your application.

patsy sally

Yesterday myself and my husband got declined for a mortgage with permanent tsb. I have been saving with them for years and even had bonds on the stock exchange with them.
I am a public sector worker and have been for well over a decade.. The manager went on annual leave during this time- yes I know he is entitled to his holidays- but no one else was left in charge of the application while he was away. I rang the bank to see was there any developments and they said they wanted other documentation- after 3 weeks they decided they wanted this document- so myself and the husband dropped it in to the bank. then they rang back a week later and wanted another document to put on the systme and delete it again after 24 hours- did you ever hear such rubbish-this was told to us to make my husband complaint. i was complaint but he wasnt'. I never heardsuch tripe before. We have savings so we didn't see that as an issue.
anyway after 7 weeks in total chasing the bank for a decision, we got the last document in to them, and all of a sudden the manager comes back from his holidays and emails me to let me know there should a be a decision this week.
At 4 o clock yesterday i emailed to ask was there a decision made and within 5 minutes he wrote back saying it had been declined. After 7 weeks. They gave no reason, never came back with a reduced offer of what we were looking for- nothing, just declined.
myself and my husband will now be going to bank of ireland and will withdrawing every penny out of the permanent tsb and telling them where to go.
I am convinved the bank were laughing at us all the time.

Has anyone else had this expereince with the permanent tsb or indeed an other bank- to keep the clients waiting 7 weeks on a decision. Id like to appeal the decision to the financial services ombudsman but i dont know what to do.

Trish56

I think you are entitled to an explanation as to why your application was declined so write to them and ask or ring the Manager that was dealing with your application. You need to know how to qualify for a mortgage such as do you need to increase your savings or do you have a mark on your credit rating. You can apply directly for a credit check to www.icb.ie

patsy sally

Would we get a mortgage with boi? I've a salary of 39k a year with 50k savings. I'm in a HSE job for the last 11.5 years which means its permanent pensionable and full time. My husband works full time and gets cash only. We live in a granny flat belonging to my parents so there is no rent. The house we are building is a self build. We can't stay in the granny flat for ever.
Do u think we would get a mortgage coz ptsb declined us?

padjo5

Might be worth contacting a local reputable mortgage broker and getting a steer from them. Although they will probably too advise you to find out reason for PTSB refusal before engaging.

padjo5

Might be worth contacting a local reputable mortgage broker and getting a steer from them. Although they will probably too advise you to find out reason for PTSB refusal before engaging.

Stheno

patsy sally wrote: »

Would we get a mortgage with boi? I've a salary of 39k a year with 50k savings. I'm in a HSE job for the last 11.5 years which means its permanent pensionable and full time. My husband works full time and gets cash only. We live in a granny flat belonging to my parents so there is no rent. The house we are building is a self build. We can't stay in the granny flat for ever.
Do u think we would get a mortgage coz ptsb declined us?

How much did you apply for? Does your husband work cash in hand?

Amirani

patsy sally wrote: »

Would we get a mortgage with boi? I've a salary of 39k a year with 50k savings. I'm in a HSE job for the last 11.5 years which means its permanent pensionable and full time. My husband works full time and gets cash only. We live in a granny flat belonging to my parents so there is no rent. The house we are building is a self build. We can't stay in the granny flat for ever.
Do u think we would get a mortgage coz ptsb declined us?

Biggest mortgage you're likely to get would be 140k or so based on your salary. So combined with savings, you probably need to be looking at properties in and around 200k.

Your husband's cash in hand job won't be factored into the application.

Slunk

We were refused by ptsb when we applied ourselves. Got in touch with a mortgage broker friends recommended and he managed to get us approved with ptsb. They will have contacts in each bank who they deal with personally I'd say so you won't be passed from pillar to post. Mortgage broker will also look after all forms etc. I've only met my broker once. All forms are then emailed/scanned back etc.

patsy sally

We applied for €120000 with ptsb and they were the rudest crowd ive eer ealt with. they aren't too worried about custom.
We are applying for €120k this week with bank of ireland so hopefully wel get it.
Would the application be affeced if they found out we have just commenced our groundworks? we had to start before the commencement notice expired.

patsy sally

we are applying to bank of ireland this week for €120k.
would the mortgage application be affeected if they were told that the groundworks has commenced? we had to start the commencement notice was gong to expire otherwise.

Stheno

patsy sally wrote: »

we are applying to bank of ireland this week for €120k.
would the mortgage application be affeected if they were told that the groundworks has commenced? we had to start the commencement notice was gong to expire otherwise.

Are you applying based just on your income?

Rackstar

This all sounds strange. Most banks will specify you need to have 12 months remaining on the planning permission before they will give you a mortgage.

Trish56

I'm nearly 40 years in the business and never heard of this one. Once you send in your commencement notice and your planning permission is in date you are free to build.

Rackstar wrote: »

This all sounds strange. Most banks will specify you need to have 12 months remaining on the planning permission before they will give you a mortgage.

patsy sally

What I mean is can you start building without a mortgage having been approved? Because you know the way the banks have to value the site and house. The site has been valued by an independent valuer.

Rackstar

Trish56 wrote: »

I'm nearly 40 years in the business and never heard of this one. Once you send in your commencement notice and your planning permission is in date you are free to build.

Its common practice. Most are 12 months and I think one may be 6 months.

Trish56

patsy sally I would not apply to BOI until you know why your application was declined by ptsb as more than likely BOI will also decline. If you provide me with some information I may be able to put some light on why you were declined.
What are your ages and how many dependents have you?. How much have you saved monthly over the last 6 months?. Do you have any other loans and do you pay rent?. What is the sq. footage of the property? Is your husband legally employed as in he pays tax and PRSI/USC but just gets paid in cash or is he self employed but not in the tax net.

Lenders want to see a paper trail for everything as in savings transferred from current account to savings account and will not accept cash into savings from undisclosed income and this could be the problem. Also on your income you can only borrow €136,500 and they may have decided that you will not build and finish the property for that amount.

patsy sally wrote: »

We applied for €120000 with ptsb and they were the rudest crowd ive eer ealt with. they aren't too worried about custom.
We are applying for €120k this week with bank of ireland so hopefully wel get it.
Would the application be affeced if they found out we have just commenced our groundworks? we had to start before the commencement notice expired.

phormium

Also make sure any sitework done re foundation etc before loan approval is certified by whoever is supervising the build, the bank will definitely want that.

Trish56

Yes you can start the build from your own funds however it is very important that a qualified Architect/Engineer with Professional Indemnity Insurance supervises the construction especially the foundations.

patsy sally wrote: »

What I mean is can you start building without a mortgage having been approved? Because you know the way the banks have to value the site and house. The site has been valued by an independent valuer.

pri2010

Slunk wrote: »

We were refused by ptsb when we applied ourselves. Got in touch with a mortgage broker friends recommended and he managed to get us approved with ptsb. They will have contacts in each bank who they deal with personally I'd say so you won't be passed from pillar to post. Mortgage broker will also look after all forms etc. I've only met my broker once. All forms are then emailed/scanned back etc.

Hi Slunk,recently I've been refused mortgage by Ptsb...Can you please pm me the Mortgage brokers details if its ok. Thanks in advance.