Mortgage app - poor ICB

Alan Murphy

Registered User
Messages
3
Hi,

All advice appreciated.

Summary
Married, combined income of €120k plus €25k bonus.
My wife has 2 existing mortgages totalling €240k, the properties are valued at €390k. Net equity of €150k and rent covers mortgages.

Neither of the properties are in a suitable location for work so we presently rent for €1,100/month. We are hoping to purchase a property for €170k that needs another €50k of renovations. We have access to €50k deposit. Net borrowing would be €170k.

I however have a poor credit rating. I missed 2 credit card repayments and my card was revoked in 2010. The account was cleared in January 2013. I also had large property debts as I was a developer during the boom, I have just cleared those debts completely with a final settlement equating to approximately 65%.

Do we have any chance of getting a mortgage?
Has anyone successfully secured a mortgage with similar credit rating issues?

I look forward to your responses.
 
if you do please let me know the bank

I have a similiar situation minus the "poor credit rating" and am unable to secure financing
I am non resident though
 
if you do please let me know the bank

I have a similiar situation minus the "poor credit rating" and am unable to secure financing
I am non resident though

I am trying to borrow from Ulster just about to lodge application and my previous debt was with AIB.
 
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