Refusal to send out refusal letters... ??

S

sydthebeat

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Ive been told by AIB that i 'do not meet the criteria' to make a mortgage application. Thats fine, thats their business. I shouldnt count as a mortgage refusal if i cant make the application in the first place......

However im fuming that its their policy not to send me out an official letter stating this. If i am to look for alternative local authority funding, i am supposed to be able to provide two mortgage refusal letters.

So theres the catch 22...
 
I can understand why AIB are refusing to send out a refusal letter. Before they can send out a refusal, they would need to assess an application. This would take time. Why would they waste time and money assessing an application and sending out a refusal letter? As a commercial business, what's in it for them?

Check the banks' websites. Do any of them allow you to download an application form? You could send in an application without talking to anyone. Then they'd have to write back to refuse you.
 
no, you dont understand the situation.

They are not assessing an application because i do not comply with the guidelines to MAKE an application in the first place. This was the outcome of a 5 minute phone conversation on tuesday evening.

The problem is that in order to seek a local authority mortgage i need 2 refusal letters from financial institutions. AIB have told me thats its there policy not to send out a letter stating that i dont meet the guidelines o make a mortgage application.

Its obviously a policy designed so as not to show a large number of mortgage refusals... thats fine, ive no problem with the guidelines.. but not sending out a bloody letter to that affect is ridiculous.

Im an AIB customer, by the way.

Im meeting with permanent TSB next friday.. hopefully they dont have the same policy.
 
LDFerguson said:
Check the banks' websites. Do any of them allow you to download an application form? You could send in an application without talking to anyone. Then they'd have to write back to refuse you.
Click to expand...

no, no online applications with AIB... just a prelim query application which leads to a phone call from their mortgage section.

and just checked... no official on line application with TSB or BOI either..... just prelim details with a follow up phone call
 
[broken link removed]

fill in and send in-- they have to send you a reply surely
 
sydthebeat said:
no, you dont understand the situation.

Its obviously a policy designed so as not to show a large number of mortgage refusals... thats fine, ive no problem with the guidelines.. but not sending out a bloody letter to that affect is ridiculous.
Click to expand...

I do understand the situation. You're frustrated because AIB won't give you a letter of refusal.

Their way is more efficient for them. It saves them money. It doesn't suit you. As I suggested, try other banks.
 
sydthebeat said:
no, no online applications with AIB... just a prelim query application which leads to a phone call from their mortgage section.

and just checked... no official on line application with TSB or BOI either..... just prelim details with a follow up phone call
Click to expand...

BOI seem to have removed the application. Even if you "pass" the online prelim, you get a phone call and once you "pass" that, they'll only send you part of the application form. The sub section covers enough for them to assess all your details, but not enough to call it a full application.
 
Can you approach your LA and explain the problem you have ? I would imagine some already have and that they will eventually be made aware of the problem but don't wait on others to do it if/when you can do it yourself.
 
ryaner said:
BOI seem to have removed the application. Even if you "pass" the online prelim, you get a phone call and once you "pass" that, they'll only send you part of the application form. The sub section covers enough for them to assess all your details, but not enough to call it a full application.
Click to expand...
this would probably do

[broken link removed]
 
I dont buy this line that it's more effiecient for them. Thats not the reason they wont take your application. They dont want to creat a statistic that says they are approving 2% of mortgage applications, so they vet the applications. BOI had a line last year where they said they were approving a quarter of all applications. What they left out is the fact they probably only allowing 1 in 5 inquiry's become applications.
We got a build mortgage last year and some of the stuff banks look for, after we were 'allowed' to apply, was OTT to plain daft. I am self employed with all requested figures supplied and verified by our accountants. AIB came back looking for revenue receipts to back them up. By doing so they were basically suggesting they dont believe our accountants. When we supplied this they asked where was revenue receipt for 2010 even though it was february 2011 and the return would not be make, let alone get a revenue receipt, until following october. After an over and back they acknowledged this was not realistic and gave us approval. We went with another bank in the end.
The banks dont want to lend, but they do want appear as if they are. This has nothing to do with their cost efficiency it's pure PR to all their vestive interests.
Can I also suggest that you write to your local authority to point out your reality. Perhaps there needs to a refusal of application letter requirement if current requirement id not attainable.
 
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