Does Bank of Ireland have a minimum mortgage amount or term?

I rang them and they said that the minimum term is 5 years.

And while they don't publish the information, it would be around €25,000 minimum.

I wonder in practice if someone who had come out of a restructure who was with a vulture fund could really switch to BoI?

Brendan
 
Brendan Burgess said:
I rang them and they said that the minimum term is 5 years.

And while they don't publish the information, it would be around €25,000 minimum.

I wonder in practice if someone who had come out of a restructure who was with a vulture fund could really switch to BoI?

Brendan
Click to expand...
You can if you have availed of Stautory Scheemes I have some of their literature that Im not supposed to have which details it under Fresh Start principles.

If you were performing and sold to a vulture I would imagine theres no impediment as long as you can comply with underwriting

1 Year post PIA
3 Year post Bankruptcy
 
ClubMan said:
Can you explain why their minimum loan amount and term is relevant in this context?
Click to expand...

If someone applies to Bank of Ireland for a mortgage, they would be more interested in a €200k mortgage for 20 years than a €20k mortgage for 5 years.

So if someone with an impaired credit record applies, they would be even less interested.

Brendan
 
I know AIB do not require security for less than 100K and a term of 7 years.

And I recall from the past that all banks have minimums - as to them it's not worth bothering about otherwise.

The fact BB was told the rules, rather than finding them written means it 'depends'.
 
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