How does anyone get a loan these days.
The pedalum has swung so far in the opposite direction, its so difficult to obtain a loan
Im in what I would consider myself, a pretty good position to obtain a small mortgage.
Family home mortgage free, Investment properties with small outstanding mortgage on some, reasonably good salary, kids in college, no car loans or Visa loans, yet the incompetence and hoops I have had to deal with in this small buy to let loan is mind boggling.
There are posters all around the city with, in a short phone call we can provide you with your mortgage for your new home, or words to that effect, heaven help them, I would call that Fake news.
I did feel sorry for the (Relationship Managers) assigned to guide you through this ordeal. Common sense has gone completely out the window and these guys know it.
Between the forest of paperwork, missing documents, re sending new originals, waiting and waiting for direction on the next stage, for them to say, well, we are waiting on your documents, which were already sent to some remote place..
On one phone call into the process, I asked to amend and reduce the loan amount required, not increase it, No Problem with doing this Ls, and, agreeing to the stupidity of what he was asking me to do, but you will have to start the whole Application from beginning he says.
Getting tired and worn out with it all while trying to keep a business going, I had pretty much just let it slide, easy enough for me, as I already have my home, what about a young couple starting out, they cant just walk away, they have to stay on the treadmill through out the marathon of crazyness. But, like in any company, there is good staff, and there are coasters, well only for, as I would call her, a vision, phoned me due to the fact the application coming up to the the time limit, I explained my, now lack of enthusiasm with the loan.
She, to her credit, thought outside the box and progressed the loan through, and property now mine, well, 60% I wont embarrass her by naming her, but she knew of my full appreciation.
AIB are very luck to have her on the team.
Some here will say, tough, and as it was a buy to let, no harm in going through the mill.
Well buy to lets are needed here, Landlords are needed here, or to put it more precisely,
Good LL are needed here.
Property let, Tenants happy.. But would think twice before going through that again in this great Country.
The pedalum has swung so far in the opposite direction, its so difficult to obtain a loan
Im in what I would consider myself, a pretty good position to obtain a small mortgage.
Family home mortgage free, Investment properties with small outstanding mortgage on some, reasonably good salary, kids in college, no car loans or Visa loans, yet the incompetence and hoops I have had to deal with in this small buy to let loan is mind boggling.
There are posters all around the city with, in a short phone call we can provide you with your mortgage for your new home, or words to that effect, heaven help them, I would call that Fake news.
I did feel sorry for the (Relationship Managers) assigned to guide you through this ordeal. Common sense has gone completely out the window and these guys know it.
Between the forest of paperwork, missing documents, re sending new originals, waiting and waiting for direction on the next stage, for them to say, well, we are waiting on your documents, which were already sent to some remote place..
On one phone call into the process, I asked to amend and reduce the loan amount required, not increase it, No Problem with doing this Ls, and, agreeing to the stupidity of what he was asking me to do, but you will have to start the whole Application from beginning he says.
Getting tired and worn out with it all while trying to keep a business going, I had pretty much just let it slide, easy enough for me, as I already have my home, what about a young couple starting out, they cant just walk away, they have to stay on the treadmill through out the marathon of crazyness. But, like in any company, there is good staff, and there are coasters, well only for, as I would call her, a vision, phoned me due to the fact the application coming up to the the time limit, I explained my, now lack of enthusiasm with the loan.
She, to her credit, thought outside the box and progressed the loan through, and property now mine, well, 60% I wont embarrass her by naming her, but she knew of my full appreciation.
AIB are very luck to have her on the team.
Some here will say, tough, and as it was a buy to let, no harm in going through the mill.
Well buy to lets are needed here, Landlords are needed here, or to put it more precisely,
Good LL are needed here.
Property let, Tenants happy.. But would think twice before going through that again in this great Country.
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