AIB mortgage calculator Q

Jsmac67

All,

I recently had a look at getting approval in principle from AIB. As part of the process they run through an online calculator, where you give personal details of income and expenditure.

Between myself and my other half we'd earn about 95k per annum gross base salary, and I'd get between 5%-10% bonus annually.

When I set my bonus at 3k gross per annum we could borrow circa 330k, when I move this to 5k per annum, we can suddenly borrow over 400k.

Is there something I'm missing here or is this just outright incorrect?

Thanks

Dylan94

Jsmac67 wrote: »

All,

I recently had a look at getting approval in principle from AIB. As part of the process they run through an online calculator, where you give personal details of income and expenditure.

Between myself and my other half we'd earn about 95k per annum gross base salary, and I'd get between 5%-10% bonus annually.

When I set my bonus at 3k gross per annum we could borrow circa 330k, when I move this to 5k per annum, we can suddenly borrow over 400k.

Is there something I'm missing here or is this just outright incorrect?

Thanks

It could possibly have pushed you over the limit to get an exemption.

Sijo1982

I received AIP from AIB after submitting all documents more than a 5 weeks through AIB eMortgages. Now i have asked to submit property and solicitor details( thats done already) . Just wondering how long will take to get offer letter?

My initial AIP was €320k now its lowered to €314k. If the circumstances doesn’t change in 6 months before letter of offer.

Any advice will they decline my mortgage during this stage? I have given deposit to new build house and my solicitor received contract pack .

Thanx in advance any advice!!!

rn

All you've paid so far is booking deposit to auctioneer and that's completely refundable if you have to pull out.

There's probably a few hoops they'll make you jump through for letter of offer, but all things being equal and you can satisfy conditions such as get life cover etc you should get your mortgage.

You won't sign contract until you have it so you don't lose any money.

brisan

rn wrote: »

All you've paid so far is booking deposit to auctioneer and that's completely refundable if you have to pull out.

There's probably a few hoops they'll make you jump through for letter of offer, but all things being equal and you can satisfy conditions such as get life cover etc you should get your mortgage.

You won't sign contract until you have it so you don't lose any money.

Also the bank May look for proof you are not on a government subsidy like EWSS or PUP before you drawdown

starbaby2003

Jsmac67 wrote: »

All,

I recently had a look at getting approval in principle from AIB. As part of the process they run through an online calculator, where you give personal details of income and expenditure.

Between myself and my other half we'd earn about 95k per annum gross base salary, and I'd get between 5%-10% bonus annually.

When I set my bonus at 3k gross per annum we could borrow circa 330k, when I move this to 5k per annum, we can suddenly borrow over 400k.

Is there something I'm missing here or is this just outright incorrect?

Thanks

They take 2100 off per couple as living expenses. This might impact it too.