Affordable Housing/shared Ownership-declaring CU loans

Q

Quigley

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Just finalising applciation with Fingal and have our interview next week. We have a small loan with credit union which we did not show on aplciation as i think credit unions are not yet registered with ICB. Is this correct? SHould we own up at our interview? :)
 
Re: Affordable Housing/shared Ownership

Some credit unions are on the ICB so the loan could show up. Also, if you are paying the credit union by s.o or through your wages they will probably query this. It would reflect better on you to tell them about this loan than if they found out about it for themselves. Any loan repayments reduce the mortgage amount you qualify for but if you cannot afford to repay the loan credit unions are quite flexible and you can reduce your monthly repayments which may enable you to keep the laon along with your new mortgage.
 
Re: Affordable Housing/shared Ownership

Hel_n said:
Some credit unions are on the ICB so the loan could show up.
Click to expand...

Here is a [broken link removed].

As Hel_n said, if you are paying your loan through a bank DD or SO, or through your work by Salary Deduction, these payments will show up and be queried. If the above is the case, best to come clean.
 
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