Application Worries

B

bmg

Registered User
Messages
65
Hi all.

Looking for some advice re applying for a Mortgage.

Myself and my partner have recently put down a deposit (our own money) on a house and are now in the process of filling out forms etc for the Mortgage.
I've a few worries which I think may have an effect on whether we get it or not.
1. I currently owe €6.000 to the BOI - paid monthly no arrears -
2. I owe €400 to Cashflow (Debt collecter) which is due to a problem I had with Ulsterbank.

My partner has no existing loans, has some savings and some land to his name.

I still can't help feeling my history with the ulsterbank is going to be a nightmare for us. It's going to show for 5yrs as bad credit history.

Anyone here had approvals in similiar circumstances??

Would love to know.

Thanks.
BMG
 
Hi there,

Yes it could cause a problem for you, I was in a similar situation, however we got around it, Is it only 400 to the debt collectors, if so you can contact them and offer to pay it in full, then when you have paid it ask for a letter stating the the amount has been paid and there is no further problems with Ulster bank, also ask ulster bank to send you a letter confirming they are happy with the end result,

The next thing you need to do is contact the bank you are applying for your mortgage with and tell them the situation, Do not try and avoid the situation with them, as they will find out and then ask what the problem was, if you tell them first then it will stand in your favour,

I would not worry to much if you can pay it off, you can also contact Ulster bank and request it to be taken off the Icb, they have the authority to do this under certain circustances as well, and if you clear up the loan and they see that you have genuine enough they might look in your favour, or also if you know anyone who works for any bank they could pull a few strokes and get you off it,
 
Mold, thank you very much for your reply.

One of my questions I was going to ask would be can I be removed from the ICB as it was a pure mix up which led to this problem in the first place with UB. You have kind of answered that for me so I'm going to look into this.

I was a bit naive when the problem originally arose and should have went further with it but in hindsight you know yourself!

Basically I got a letter (after a 4yr car loan with UB) saying now that your have cleared your loan, what do you plan to do with all you extra cash...blah blah blah...

I was thrilled with this! However 3 months later I got a letter/statement from them saying I owed €700 from an overdraft which I had assumed was built into the loan....which brings us to where I am today. They insisted I owed it...I insisted I didn't etc and in the end it was passed to Cashflow....I was mortified! The lady with whom I dealt with in UB even sent me a letter to arrange a meeting as I had sent her a pretty stiff letter back at that time! I should have met with her then! But I'll be making contact with her tomorrow!!!!!

Please God all will go okay...If we don't get it I'll feel responsible.:(
 
If you contact the Irish Credit Bureau on 2600388 you can get a credit check done on yourself - you will see the same information that the lender sees.

Sarah

www.rea.ie
 
Sarah thanks for that! I will give them a buzz today.
Does anyone know of cases that have been removed for their "Bad Credit List?"
 
Hi Again,
I hope you are getting where you want to be, I was on the ICb, but have been removed from it now, my situation was a bit different to your own, (alot more complicated and for alot more money) but i managed to get it sorted, so really dont give up and dont let them bully you either, stand your ground, are you sure you are even on the icb
 
Hi Mold.
When I spoke with Cashflow last week to discuss clearing off the €400, he mentioned to me I would be on the list for 5yrs. He also did mention there was nothing I could do about it but because the amount was not so big he didn't see it having any effect on me applying for future loans/mortgages etc.

I didn't get a chance to make any calls to check it out yesterday. Hoping today will be a little quieter and will try then.
 
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