Hi,
I will try to keep this short and to the point.
Wife and I got married in Jan 14. We Started a small business in Oct 13. We have no mort on current property and are looking to move.
We found a nice place. I spoke with our Biz bank ( AIB ). they looked over everything and told me that it should be okay for what we need. After weeks of more docs and the application is in a queue it was discovered that the application was sitting on underwritters desk with nothing done. Eventually came back declined.
I had already placed my current house on market and agreed a price on place we wanted by this time.
I spoke to a broker who looked at everything and said he could get us what we needed. Went thru process and provided lots of paperwork and follow up paper work but eventually came back declined because Aib had already declined and apartently nobody else wanted it.
Then i spoke with my bank. Ulster. They said ok, thats a very clean application, should be no problem. provided eveything again, waited weeks and eventually because the business for the wife is only 1 year old they would only approve to 82k which isnt enough for what we need.
House wanted to buy 219k
Outstanding P loan 23k
House selling 151,000 ( Buying waiting )
Fees etc 10k
Savings 7k
So for around a 50% mortgage nobody will touch us. The Business is boxed off and pays for itself, no debt on it whatsoever. I am in same full time employement for just under 10years. P60's so 47k a year with OT and guarenteed shift.
Is there anywhere else we can turn? Had my wife been on the dole it would have been approved months ago.
We got married outside of Ireland and didn't register in Ireland yet. Can we be classed as single??
I can't believe the this is how the banks work now. I would love to be in a position to sell up and leave.
Sorry That was as short as i could keep it.
I will try to keep this short and to the point.
Wife and I got married in Jan 14. We Started a small business in Oct 13. We have no mort on current property and are looking to move.
We found a nice place. I spoke with our Biz bank ( AIB ). they looked over everything and told me that it should be okay for what we need. After weeks of more docs and the application is in a queue it was discovered that the application was sitting on underwritters desk with nothing done. Eventually came back declined.
I had already placed my current house on market and agreed a price on place we wanted by this time.
I spoke to a broker who looked at everything and said he could get us what we needed. Went thru process and provided lots of paperwork and follow up paper work but eventually came back declined because Aib had already declined and apartently nobody else wanted it.
Then i spoke with my bank. Ulster. They said ok, thats a very clean application, should be no problem. provided eveything again, waited weeks and eventually because the business for the wife is only 1 year old they would only approve to 82k which isnt enough for what we need.
House wanted to buy 219k
Outstanding P loan 23k
House selling 151,000 ( Buying waiting )
Fees etc 10k
Savings 7k
So for around a 50% mortgage nobody will touch us. The Business is boxed off and pays for itself, no debt on it whatsoever. I am in same full time employement for just under 10years. P60's so 47k a year with OT and guarenteed shift.
Is there anywhere else we can turn? Had my wife been on the dole it would have been approved months ago.
We got married outside of Ireland and didn't register in Ireland yet. Can we be classed as single??
I can't believe the this is how the banks work now. I would love to be in a position to sell up and leave.
Sorry That was as short as i could keep it.