Bank refusing mortgage when employer is on EWSS

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Cros1984

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I was in the process of switching my mortgage to another bank and they refused due to my employer being on the Employment Wage Subsidy Scheme. I have no debt, no loans, no mortgage payments missed ever, decent amount of savings and both our monthly take home pay could cover the mortgage 5 times over.

I guess this is the way of things for a few months but its a bit annoying.

I was just wondering if anyone is in the same boat?
 
My employer is for the foreseable but my wifes apparently has gone off it due to revenue her company has made and are looking at it on a monthly basis.
 
Firstly, just to clarify, I don't work for AIB.

Their official line is that each case is looked at on a case by case basis.

However, if both employers are availing of EWSS I can't see them approving a drawdown, depending on the sectors.
But I'd contact them again once you've confirmed that your wife's employer is no longer availing of it. You need to talk to a mortgage advisor in AIB as they may have a timeframe, or tell you what evidence they need before they reconsider. Revenue only published the list for any employer that received EWSS during 2020, they don't provide updates of those no longer receiving it.

If you are getting nowhere, I don't usually recommend using a broker, but it'd be worth contacting Dowling Financial to guide you. Michael Dowling has brought attention to this specific topic through the national press, and should be in a position to tell you the criteria of each bank currently.

I've no connection with Dowling Financial.
 
We were applying for a switcher last summer and noone would look at us because my husband was on the WSS. I did manage to get a mortgage on my own from AIB as we were only looking for a small amount and when stress tested my wages were enough. But we were told my husband was ineligible to apply at the time until he had one payslip to show he was off the WSS. This was the same for AIB, KBC and ulster Bank.
 
Hi RedOnion,

Many thanks for that - much appreciated.

I'll be sure to have the wife get onto her company to see if they can provide up to date info that they are not still on EWSS.
 
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