AIB eMortgage - Do we nearly have it?

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Pixy91

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Originally we were going with a broker to get a mortgage through finance Ireland but didn't have a good experience and it felt like we were going around in circles, 3 months and felt like we'd barely moved forward despite providing everything asked in a timely manner.

We decided to apply with our own bank, AIB, through the online process. We'd gone sale agreed on our house and the house we wanted to buy. Now AIB have said the next step is our letter of offer and have asked for details on the house, exact mortgage we want, fixed/variable rate, solicitor details and the likes.

I was just wondering does this mean we practically have the mortgage or is there still a good chance they'll say no? I know there's no 100% guarantee until we get the letter of offer. We've never had a mortgage before so all new to us and we don't want to get too ahead of ourselves!
 
Have you submitted all the income details already? Forms filled by employers, payslips, bank statements etc. If so then you are not doing too bad, if it was just an approval in principle originally based on just income figures you input then it's a bit less secure and you're just really at the start of the application stage.
 
Monbretia said:
Have you submitted all the income details already? Forms filled by employers, payslips, bank statements etc. If so then you are not doing too bad, if it was just an approval in principle originally based on just income figures you input then it's a bit less secure and you're just really at the start of the application stage.
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We have given in all payslips, salary certs, p60s along with other documents asked for such as proof of savings, funding the difference etc.

Got a message today saying they are just waiting on the final sanction from the lending team
 
Pixy91 said:
Originally we were going with a broker to get a mortgage through finance Ireland but didn't have a good experience and it felt like we were going around in circles, 3 months and felt like we'd barely moved forward despite providing everything asked in a timely manner.

We decided to apply with our own bank, AIB, through the online process. We'd gone sale agreed on our house and the house we wanted to buy. Now AIB have said the next step is our letter of offer and have asked for details on the house, exact mortgage we want, fixed/variable rate, solicitor details and the likes.

I was just wondering does this mean we practically have the mortgage or is there still a good chance they'll say no? I know there's no 100% guarantee until we get the letter of offer. We've never had a mortgage before so all new to us and we don't want to get too ahead of ourselves!
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we had AIP from finance ireland, like you said, long time for the process, after we have house gone sale agreed, booking deposit paid, applied for loan offer and got denied. nothing changes from our side, all documents ready.
 
FTBNET said:
we had AIP from finance ireland, like you said, long time for the process, after we have house gone sale agreed, booking deposit paid, applied for loan offer and got denied. nothing changes from our side, all documents ready.
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Yeah I really wouldn't recommend them to anyone. It was far more stressful than its been with our bank and we are further along in a month with our own bank than we were after 3 months with finance Ireland.
 
Pixy91 said:
Yeah I really wouldn't recommend them to anyone. It was far more stressful than its been with our bank and we are further along in a month with our own bank than we were after 3 months with finance Ireland.
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We have the house gone sale agreed less than 3 weeks from the date AIP came and applied for formal approval. However, our application went to underwriter again(2nd time less than 3 weeks) and the underwriter overthrew the AIP. Our jobs, incomes nothing changed, some how, they refused us anyway.
 
FTBNET said:
We have the house gone sale agreed less than 3 weeks from the date AIP came and applied for formal approval. However, our application went to underwriter again(2nd time less than 3 weeks) and the underwriter overthrew the AIP. Our jobs, incomes nothing changed, some how, they refused us anyway.
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Have you since gone to anyone else to see if you've better luck? As if buying a house isn't stressful enough!
 
Pixy91 said:
Have you since gone to anyone else to see if you've better luck? As if buying a house isn't stressful enough!
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Waiting for the broker back to work to see if there are other options, also thinking to apply with our own bank.
may have to give up the house for now and wait until P60s to come and renew all other docs as well. and yes,
stressful, stressful and feels like a fool.
 
Just a quick update on this. Our mortgage was approved today and letter of offer has been sent! Quick enough turn around considering Christmas and new year.
 
Hi Pixy91,

How did you find doing the eMortgage process with AIB?

Congratulations on your approval.
 
Live Well said:
Hi Pixy91,

How did you find doing the eMortgage process with AIB?

Congratulations on your approval.
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Sorry I was offline there for a while!

I loved it! I was in 2 minds wether to do it but it's hard to have actual meetings with financial advisors with covid, childcare, time off work etc so we bit the bullet on went with the emortgage.
Ay
Once we got started with submitting documents it was easy. There's always someone at the end of the phone or if messaging through the app a 1-2 day reply time was what it was.

We applied 25th November and got a message to say our letter of offer was sent on 5th January.
 
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