I had problems in 2009 - will that affect my mortgage application now?

F

finance1233

Registered User
Messages
23
hello all.

i am currently trying to apply for a mortgage. i am applying through a broker
who wants to go through boi. i had an account with boi that i closed back in 09.
at the time the account would have been messy as i was struggling at that time
financially i had a credit card that turned in to a term loan that went legal at one point.
i have heard nothing from the bank since 2010. would they still hold records on me? or do they get destroyed after some time?

any help would be greatly appreciated
 
Well the first question is why would anyone recommend Bank of Ireland which has the highest standard variable rate?

He won't recommend EBS which is probably the best buy because they don't use brokers.

Brendan
 
Brendan Burgess said:
Well the first question is why would anyone recommend Bank of Ireland which has the highest standard variable rate?

He won't recommend EBS which is probably the best buy because they don't use brokers.

Brendan
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i know brendan, they wouldnt be my first choice either. but i have spoken to a couple of brokers
who feel they may be best for my situation. i have nothing bad on my icb from boi the history
pre dates that. im just wondering if through the application process would any red flags be raised
or given it goes back 7 years will i be ok.

again if anybody has tried anything similar your help would be appreciated.
 
Dont think bank of ireland systems link into each other, so if your ICB is clear I would imagine your on the home stretch.
 
Em, actually you'll find when you have those type of problems with Irish banks they
tend to keep those records on file the fact it nearly went legal suggests you may have a
negative credit rating internally with that bank. If that's the case you'll be declined
regardless of your credit rating with the ICB>
 
finance1233 said:
but i have spoken to a couple of brokers
who feel they may be best for my situation.
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Sounds a bit dubious from the brokers recommending BOI to be honest but I guess there may be a good reason. I would say you have no problem. The only danger is that someone who dealt with you before remembers the name/case which is highly unlikely. Either way all they can say is no and it won't affect you trying another bank.
 
does anybody know how long an internal bad credit rating with a bank is kept on file within the bank?
 
Bank of Ireland are not in the broker market at the moment, so I am curious about why a broker is recommending them. As they cannot receive any commission from BOI, I wonder whether they have agencies with any of the banks.

Best Regards,
Dave Curry, Irish Mortgage Corporation
https://ie.linkedin.com/in/davecurryirl (LinkedIn profile and client testimonials)
 
Given the original posters past circumstances, I'm actually surprised the broker is not pointing them in the direction of Pepper....

I would be surprised if BoI don't still have a record of the past difficulties with the individual, just because they didn't end up getting a judgement or the history isn't appearing on the ICB (doesn't the ICB only show the past 2 years repayment record, or possibly 5 years for terminations etc ?), does not mean that BoI have not retained their own internal computer records.

While not directly relevant - I had a dispute with Esat Digifone many years ago and ultimately refused to pay a small bill when I ceased dealing with them (I think it was something like €30)... I considered moving to 02 a couple of years ago only to be told by them that they would not be willing to take me on as a new customer, until I cleared this historic balance due to "them" ! Needless to say, they lost out on both my own and my wife's mobile phone accounts (which have always been managed perfectly, paid on time etc.).
 
MrEarl said:
Given the original posters past circumstances, I'm actually surprised the broker is not pointing them in the direction of Pepper....
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Not all brokers have an agency with Pepper. As mentioned above, NONE have an agency with BOI, so I don't think this person is dealing with a mortgage broker (possibly an insurance & investment broker who happens to know someone working in BOI...?).
 
Dave_Curry_IMC said:
Not all brokers have an agency with Pepper. As mentioned above, NONE have an agency with BOI, so I don't think this person is dealing with a mortgage broker (possibly an insurance & investment broker who happens to know someone working in BOI...?).
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hello dave
ive spoken to 3 brokers who all deal with boi(possibly bank managers they know maybe). boi dont pay them for there services and i would have to cover that.
 
finance1233 said:
hello dave
ive spoken to 3 brokers who all deal with boi(possibly bank managers they know maybe). boi dont pay them for there services and i would have to cover that.
Click to expand...

If I am understanding Dave correctly, then BoI do not appoint brokers and by extension, there is no formal relationship between the parties (so if something goes wrong, a mistake is made etc. you have no come back).

Also, are you sure you are getting additional assistance above (from someone who knows what they are doing, is qualified to advise you etc) and beyond what BoI will give you if you make a direct application through them ? ... obviously what I'm getting at is whether or not there is any need for you to pay a fee to any third party in this instance.
 
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