Mortgage Approval

Based on this thread, or if it needs to be set up as a seperate thread I was wondering if it possible to get a feel for what banks are lending out today to persons who are looking to buy a house.

Is it possible for the Mods to set up some form of a spread sheet which can be updated using the following in a set of excel sheet columns:

Lender
Loan amount (€)
Interest Rate (%)
Term (yrs)
Income Spouse 1 (€)
Income Spouse 2 (€)
Children (No.)
Additional Income (€)
Additonal Outgoings (€)
 
Whereas such a spreadsheet might prove useful I'm not sure many would fill it in. I don't think I would. It seems like it's horses for courses when applying for a mortgage. I took a scatter-gun approach and contacted six lenders, made four formal applications and secured two approvals.
 
More info on my experience:

Ulster Bank were willing to approve for a higher amount than BOI, but still not as high as AIB, some 5% less. They do take child benefit into account for children u14 (I think I have that right).

With UB the process is quite property specific - they do not process the application as such until you give them a property address.
 
Kildavin said:
Throwing cat amongst pigeons here - do lenders advance loans for properties which are in Receivership (which they originally appointed) ?

Or, to put it another way, would they deem a new mortgagee a more acceptable/lower risk than the property in receivership?
Click to expand...

I had a discussion with a bank recently on this. A builder who had borrowed from the bank was selling, but really the bank were allowing the builder to sell at a certain price (very reasonable price, well built) but they bank will not give a higher percentage just because they are owed money by the builder. It's not exactly a receivership but from my conversation it was as good as. Incidentally all property were sold.
 
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