Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Banks refusing mortgages when employer is on EWSS

  • 09-04-2021 2:25pm
    #1
    PCros
    Registered Users, Registered Users 2 Posts: 2,077 ✭✭✭


    So I was in the process of switching my mortgage to another bank and they refused due to my employer being on the Employment Wage Subsidy Scheme.

    I have no debt, no loans, decent amount of savings and both our monthly take home pay could cover the mortgage 5 times over

    I guess this is the way of things for a few months but its a bit annoying.


Comments

  • #2
    DarraghR
    Registered Users, Registered Users 2 Posts: 508 ✭✭✭DarraghR


    Horrible situation for anyone buying. We are fully approved but my fiancees company but we can't do anything. Deposit paid and all documents received. Nightmare


  • #3
    The J Stands for Jay
    Registered Users, Registered Users 2 Posts: 5,786 ✭✭✭The J Stands for Jay


    PCros wrote: »
    .
    both our monthly take home pay could cover the mortgage 5 times over

    I guess this is the way of things for a few months but its a bit annoying.

    If your employer requires government assistance to pay you, then the bank would be right to worry about your continuing income


  • #4
    DarraghR
    Registered Users, Registered Users 2 Posts: 508 ✭✭✭DarraghR


    Some of the biggest and most profitable company's are on the scheme and could do without but they choose to stay on it anyway.

    I get it benefits more than it doesn't but its quite harsh for people trying to get a house.


Advertisement