mortgage declined after AIP

B

bobble

Guest
Hi all, a bit of advice please.
I had AIP from Haven for a AH mortgage and went for full approval two weeks ago. They have been to-ing and fro-ing about the fact I am on contract (open ended but will run out of funding in Jan 2010). They wanted a letter from my employer saying that I would be in work for the forseeable future or similar. I can't this (if they will even do it) until next week as no one in HR. I have also been panelled for a CS position which should be coming up later this year.
My broker just emailed me to say that they will not sign off on the mortgage until I have a permament job. Broker also said that most banks have pulled their AH products! Haven are the only bank doing AH at the mo (according to broker). I rang another broker who said that they have got AH mortgages for people on contract recently and no banks have pulled their AH products.
Can anyone shed some light or offer advice?
regards,
B
 
Hi Bobbie

I recently got AIP from First Active and they were very helpful,this was only a few weeks ago,so they are definitely still doing the AH aswell! Maybe give them a shout and see how you get on?
 
Hi,
Best thing is to ring around yourself. Your broker may only be going with the lender that will give him the heftiest commission.
 
with prices colapsing and an uncertain future why are you so anxious to get on the affordable housing that you would go with a sub-prime lender?
 
moneygrower- I'm not sure what you mean by sub-prime lender. None of the AH mortgages are offered by sub-prime lenders (i'm open to correction if KCB is sub-prime?) but the rest are all mainstream with Haven being the brokerage arm of EBS (same or v similar criteria- broker changed their story on this when I asked).
Have had a think and reckon I will just hold out and buy privately.. what's for ye won't pass ye.. as my Mum says! It's obviously not meant for me :)
Cheers for replies
 
Maybe get another mortgage advisor, the following give AH mortgages:

Mortgage Lender Product Name Phone Number Website Address Bank of Ireland Breakthrough Mortgage 1890 365 345 www.boi.ie EBS Home Access 1850 654 321 www.ebs.ie First Active Affordable Housing Mortgage 01 709 2010 www.firstactive.ie Ulster Bank Home Run 1890 252 270 www.ulsterbank.ie Haven Mortgages To obtain a Have Mortgage, please contact your Mortgage Broker
I've been offered a place in D.15 and am trying to get AIP from EBS this week, hope I get it in time as viewing is Saturday.
 
I have my mortgage with Haven through a Broker, I only have a part time job and had no problem getting approval, but did have some savings and my apartment was quite cheap.
 
Folks,

All advise welcome. I got mortgage AIP from EBS, based on that I placed deposit on apartment. Then the next week went to finalise details with EBS and they revoked their offer because of a bad rating on my ICB report from MBNA credit card, missed a few payments 10 months ago! Since then BOI and HAVEN have both declined me for the same reason.

Does anyone know how hard it is to get a mortgage directly from Fingal or will they refuse for the same reason! I desperately want the apartment but only have a week left to get approval.

All advice welcome
 
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