Mortgage Application review process

suebermo

Hi, I am just wondering if there is process where an individual can make an appointment and speak to someone in relation to a mortgage application. There reasoning behind this is I am feeling discriminated against (hate using that phrase) in relation to what happens, which seems to be more of a tick box exercise than proper review.

Information is 

I am single, 36 years old and a First time Buyer. I am looking to buy around the Clondalkin area.

The amount I earn per year is not enough to get (me on my own with 1 salary) approved an amount anywhere near what I would need to buy a house - not even just in that area 

I am limited to the option of an apartment and to be more accurate only 3 are listed (in my preferred area) within my approval range as per the calculator.

Contrary to this I have 6 years of paying private rented property on my own and 18 months of saving higher than that amount per month - as I moved in with family to raise my deposit. So on a month to month basis I can show I am more than able to afford a mortgage twice the amount showing on the calculator over the 30 year Term and still pay less than I am currently saving.

Is there a case that can be made not only looking a loan to Income (LTI) but on Affordability month to month as I feel I am extremely pigeon held and forced to buy within your agreed limits and not what I can afford.

Going on my affordability each month and not LTI would allow me more selection options in purchasing a home and not confining me to buy something just because its all I am approved for. 

Bank of Ireland: Darren

suebermo wrote: »

Hi, I am just wondering if there is process where an individual can make an appointment and speak to someone in relation to a mortgage application. There reasoning behind this is I am feeling discriminated against (hate using that phrase) in relation to what happens, which seems to be more of a tick box exercise than proper review.

Information is

I am single, 36 years old and a First time Buyer. I am looking to buy around the Clondalkin area.

The amount I earn per year is not enough to get (me on my own with 1 salary) approved an amount anywhere near what I would need to buy a house - not even just in that area

I am limited to the option of an apartment and to be more accurate only 3 are listed (in my preferred area) within my approval range as per the calculator.

Contrary to this I have 6 years of paying private rented property on my own and 18 months of saving higher than that amount per month - as I moved in with family to raise my deposit. So on a month to month basis I can show I am more than able to afford a mortgage twice the amount showing on the calculator over the 30 year Term and still pay less than I am currently saving.

Is there a case that can be made not only looking a loan to Income (LTI) but on Affordability month to month as I feel I am extremely pigeon held and forced to buy within your agreed limits and not what I can afford.

Going on my affordability each month and not LTI would allow me more selection options in purchasing a home and not confining me to buy something just because its all I am approved for.

Hi there,

Thanks for the questions.

I've given a link here and on the bottom of that page there is an option to both arrange a meeting face to face with a mortgage Specialist or arrange a call back from one. They will both be able to take all of your information and go through all the mortgage options available to you.

Thanks again,
Darren.