Taoiseach got 100% tracker mortgage, why was i refused tracker with 100% mortgage?

verywhys

Frequent Poster
Messages
108
Good question....Do you know what bank and year it was possible to get 100% tracker mortgage?
 

Palerider

Frequent Poster
Messages
1,444
Were you a Doctor or a professional on a solid upwards earning curve, ?, if you were you should have got it at that time.

The professionals always got some preferential treatment on the basis the Banks were trying to build a long term relationship, it goes back to attracting students from University.

I do not know when he got his mortgage but when the 100% mortgages first arrived thanks to First Active they were aimed at professionals only and he would have qualified, the tracker was incidental at that time, trackers were offered alongside variable and fixed as alternatives, the idea of Banks offering customers tracker rates is a little disingenuous.

Only the savvy recognised trackers as the value they turned out to be.
 

verywhys

Frequent Poster
Messages
108
So I take it there was no mortgage rules that prevented someone getting a 100% tracker mortgage?

All I know is that I wanted the tracker mortgage and I was advised that this was not possible with a 100% mortgage.....

Here's silly old me thinking that all customers should be treated equally.....??
 

verywhys

Frequent Poster
Messages
108
I was with AIB, I don't know if they did offer 100% tracker mortgages......that is what I was hoping to find out?
Has anyone else out there been on a 100% tracker mortgage with AIB? Where can I find this information?
 

huskerdu

Frequent Poster
Messages
2,141
Here's silly old me thinking that all customers should be treated equally.....??
No, it's never been the case that mortgage providers dot have to offer the same products to all customer.
There is always lending criteria based on your income ( and estimation of future income) , the value of the property, your ability to repay.

All you know is that you were told that you couldn't get a tracker 100% mortgage.
 

PGF2016

Frequent Poster
Messages
308
So I take it there was no mortgage rules that prevented someone getting a 100% tracker mortgage?

All I know is that I wanted the tracker mortgage and I was advised that this was not possible with a 100% mortgage.....

Here's silly old me thinking that all customers should be treated equally.....??
It is silly to think all customers should be treated equally. What you're offered should be dependent on your circumstances.

I got a 100% tracker with PTSB in 2006. I'm not the Taoiseach. They're not available now.
 

verywhys

Frequent Poster
Messages
108
Is the same lending criteria not meant to apply to everyone? .... sure your income and circumstances could be different but is it not the same lending criteria that determines whether or not you are given the loan?
 

RedOnion

Frequent Poster
Messages
3,288
I was with AIB, I don't know if they did offer 100% tracker mortgages......that is what I was hoping to find out?
It took long enough to get to the question!

I don't believe AIB ever offered 100% LTV trackers.

Several other banks did.
 

verywhys

Frequent Poster
Messages
108
So what i take from this so far is the following:
  • Every bank have their own lending criteria
  • PTSB offered 100% tracker mortgage in 2007
  • Ulster Bank offered 100% tracker mortgage in 2006
  • AIB never offered 100% tracker mortgage...or did they?
  • Bank of Ireland - did they?
  • KBC - did they?
 

verywhys

Frequent Poster
Messages
108
You're missing several lenders from your table.
sorry bout that....

So what i take from this so far is the following:
  • Every bank have their own lending criteria
  • PTSB offered 100% tracker mortgage in 2007
  • Ulster Bank offered 100% tracker mortgage in 2006
  • AIB never offered 100% tracker mortgage...or did they?
  • Bank of Ireland - did they?
  • KBC - did they?
  • Irish Nationwide - did they?
  • Danske Bank - offered 100% tracker mortgage, year?
  • Bank of Scotland Ireland - offered 100% tracker mortgage, year?
  • any other...?
 
Last edited:

so-crates

Frequent Poster
Messages
1,766
Is the same lending criteria not meant to apply to everyone? .... sure your income and circumstances could be different but is it not the same lending criteria that determines whether or not you are given the loan?
"Lending criteria" is not the same thing as outcome. Just because you apply the same lending criteria to two different applicants does not mean that they will be offered the same deal. It means that the deal they are offered is based on what their circumstances are. The salient question is were your circumstances the same as Leo Varadkar's in 2007? If they were and you were applying to the same lender and you were treated differently, then you might have an argument.
 
Top