Hi,
Myself and my partner put a depoit on a house about 5 weeks ago (€5000), the house is being sold for €230000
We applied for a Mortgage through a broker and yesterday she confirmed that IIB had refused us because I had bad credit. The bad credit stems from when I was on Maternity leave and fell to 6 months behind with payments. The loan is with Bank of Ireland and they advised me to "reschedule" the loan to fix the arrears which I did and for the past 14 months haven't missed one payment.
Basically because IIB has refused us, she has advised that all other banks (standard banks) will too. She has talked about getting a mortgage for us with Start but the repayments will be €400 a week which we could not afford (without something else suffering)
Now the big problem is that the sellers solicitor has been in touch with ours and wants the sale to close very soon.
My partner has no credit problems, we have another €5000 in savings in the credit union and I have my SSIA too.
What are we going to do, can anyone please advise on where to go from here. If we don't sort something out quick we are going to lose the house.
I need to add that our original application was for €250000 as they house needs to be done up and fully furnished. We need a €100% mortgage.
Can anyone offer advice. I'm devastated.
Myself and my partner put a depoit on a house about 5 weeks ago (€5000), the house is being sold for €230000
We applied for a Mortgage through a broker and yesterday she confirmed that IIB had refused us because I had bad credit. The bad credit stems from when I was on Maternity leave and fell to 6 months behind with payments. The loan is with Bank of Ireland and they advised me to "reschedule" the loan to fix the arrears which I did and for the past 14 months haven't missed one payment.
Basically because IIB has refused us, she has advised that all other banks (standard banks) will too. She has talked about getting a mortgage for us with Start but the repayments will be €400 a week which we could not afford (without something else suffering)
Now the big problem is that the sellers solicitor has been in touch with ours and wants the sale to close very soon.
My partner has no credit problems, we have another €5000 in savings in the credit union and I have my SSIA too.
What are we going to do, can anyone please advise on where to go from here. If we don't sort something out quick we are going to lose the house.
I need to add that our original application was for €250000 as they house needs to be done up and fully furnished. We need a €100% mortgage.
Can anyone offer advice. I'm devastated.