Ulster Bank has asked mortgage broker to get ICB report before approving our application

M

Moneysaver

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Myself and my partner made a joint application to UB for a mortgage through a broker. We were told that it was a solid application before making it. Now the underwriter has gone back to the broker to request ICB reports for both of us and they haven't confirmed which one of us there is a problem with. We have both had mortgages in the past (I have a current mortgage and my partner had a house which was sold and the mortgage cleared in full). We have never missed any payments on anything (everything paid on time).

Is this the norm for banks to ask for and ICB report for both parties or should we be concerned? We are due to pay a non-refundable deposit on a house in two weeks and I am now concerned there will be a problem with mortgage approval. Any advice would be most helpful?
 
This makes no sense, it's not normal for the banks to ask the broker for the ICB at all, UB will do their own ICB check as part of the application. The bank would always do an ICB check on both applicants for any loan including a mortgage. Is it the broker who has told you that they have been asked for an ICB or did you pick up the message incorrectly I wonder?
 
That's exactly what I thought myself. So I phoned the broker this morning and she read the e-mail out to me from the underwriter requesting the ICB reports. I had asked which one of us there is an issue with (so I could resolve it) and she said as it was a joint application she couldn't tell me. I am due to sign contracts with the solicitor in two weeks, so obviously I need to get the issue sorted asap, as there is no point in proceeding without the loan approval.
 
Have you been living abroad? Is it reports from UK or somewhere else they want?

ICBs will always be done, there would be no question of UB not needing them but they do them directly unless there has been some major change which I couldn't see happening!
 
No neither of us have been living abroad. We have phoned the broker again and they are still saying they need the ICB reports. The are not providing any further information.
 
Something not right here. UB will do their own ICB check. I didn't think that UB dealt with brokers either. I would start doubting the brokers competence.
 
As others have said, it's the bank that does the ICB check.
It's possible that ICB aren't able to find record(s) for one of you. Did you provide all previous addresses as part of the application?
 
I got a mortgage with UB about 6 months ago, I was asked for this also before final mortgage approval and provided it. Thought it was a bit strange as I thought they would have done it themselves but didn't question it at the time. Haven't lived abroad either.
 
Jeepers! Are they expecting customers to stump up the ICB fee and provide it to them now? Surely if UB have changed their arrangements brokers would know this. I wonder is it only broker loans this applies to, penny pinching maybe as they have to pay broker commission so trying to save on the ICB cost :)
 
I think the broker lacks the experience alright. All we can do is wait for the ICB report and go from there. Unfortunately the time is ticking with our contracts and we wont be signing them until the mortgage is set in stone. You would think Ireland would have an online system to obtain the ICB reports in real time.
 
Moneysaver said:
You would think Ireland would have an online system to obtain the ICB reports in real time.
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They do have an online system! Which is why this makes no sense.
In your application you gave permission to UB to do the check.
The only thing you broker should have provided is an Experian check if you'd ever lived abroad or hold foreign bank accounts.
 
There is an online system, can be done immediately by the bank, used to be done in the branches before application was sent off, then changed to being done on the Head Office side when being processed up there, makes no sense at all!

In fact UBs system (unless it's changed) was when the application was keyed in branch it automatically ran an ICB even for say a current account application, the report was not visible to branch staff but it gave a yay or nay answer.
 
Thanks all for your advice. We will know in a few days once the reports arrive. Hopefully all will be ok.
 
For what it is worth, we go our mortgage through UB using a broker. Our broker asked us to provide an ICB report but the broker was able to specify that it was for myself. The broker did not intimate whether it was UB that asked though.
 
Hi, UB asked me to provide my ICB report. It was joint application. My understanding is that when UB did their online check with the ICB there was a flag on mine. Apparently the ICB report they access online is only basic. I obtained and furnished a full ICB report to them. The flag turned out to be an agreed mortgage holiday I had taken with a previous provider to cover unpaid maternity leave. It wasn't an issue, we got final approval and proceeded to drawdown
 
They have an online system and can automate updates and checks very easily from the various lenders. Its built into the automated lending checks in most banks I know of.
Would have thought they would have flagged the actual report back to you if there was an issue, instead of asking you to retrieve it yourself and then discuss it.
 
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