'Askingabout...' for a friend...she arrived here a few weeks ago from EU member Hungary but did her homework and has had an offer of €195k verbally accepted for a house in Co.Waterford. She has €100k (parents in Budapest) and is working in Waterford city for a multinational company. Salary €35k p.a.
The job is a one year contract but 'likely' to become permanent.
The snag? Ulster Bank have refused her a mortgage on the grounds that she has not been here for 6 months. They accept her ability too repay etc but claim that central office are adamant on the 6 month rule.
Seems odd to me (Irishman receiving offers of cheap money in the post every week) that a 50% LTV mortgage for a fairly measly 100 grand is so hard to get? She considers rent money dead money and is determined to buy this house...sorry for banging on, time is tight and any thoughts or advice greatly appreciated.Thanks!
The job is a one year contract but 'likely' to become permanent.
The snag? Ulster Bank have refused her a mortgage on the grounds that she has not been here for 6 months. They accept her ability too repay etc but claim that central office are adamant on the 6 month rule.
Seems odd to me (Irishman receiving offers of cheap money in the post every week) that a 50% LTV mortgage for a fairly measly 100 grand is so hard to get? She considers rent money dead money and is determined to buy this house...sorry for banging on, time is tight and any thoughts or advice greatly appreciated.Thanks!