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

Discussion in 'Tracker mortgages - other than redress issues' started by verywhys, 5 Feb 2019.

  1. verywhys

    verywhys Registered User

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  2. RedOnion

    RedOnion Frequent Poster

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    Was it the same bank and year?
     
  3. verywhys

    verywhys Registered User

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    Good question....Do you know what bank and year it was possible to get 100% tracker mortgage?
     
  4. Palerider

    Palerider Frequent Poster

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    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.
     
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  5. verywhys

    verywhys Registered User

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    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.....??
     
  6. RedOnion

    RedOnion Frequent Poster

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    Did the bank that you applied for offer 100% at tracker rates? And did you meet their lending criteria at the time?

    If not, this thread is just a rant.
     
  7. verywhys

    verywhys Registered User

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    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?
     
  8. huskerdu

    huskerdu Frequent Poster

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    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.
     
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  9. Mucker Man

    Mucker Man Frequent Poster

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    I got a 100% tracker (ECB +0.6%) with Ulster Bank at the end of 2007.
     
  10. PGF2016

    PGF2016 Frequent Poster

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    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.
     
  11. verywhys

    verywhys Registered User

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    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?
     
  12. RedOnion

    RedOnion Frequent Poster

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    It took long enough to get to the question!

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

    Several other banks did.
     
  13. RedOnion

    RedOnion Frequent Poster

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    That's the definition of lending criteria...
     
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  14. verywhys

    verywhys Registered User

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    Apologies for not being clear.....so i take it the Taoiseach ain't with AIB ;)
     
  15. verywhys

    verywhys Registered User

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    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?
     
  16. RedOnion

    RedOnion Frequent Poster

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    You're missing several lenders from your table.
     
  17. Delboy

    Delboy Frequent Poster

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    Yeah, where's Irish Nationwide ;)
     
  18. RedOnion

    RedOnion Frequent Poster

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    I never thought of them! ;)

    I was thinking more about Danske and BOSI, both of which did actively offer 100% tracker mortgages.
     
  19. verywhys

    verywhys Registered User

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    Last edited: 5 Feb 2019
    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: 5 Feb 2019
  20. so-crates

    so-crates Frequent Poster

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    "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.
     
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