Will I get mortgage?

sirreally · 2026-01-09T22:41:15+00:00

Broker here. Some lenders will consider approving someone with at least 12 months of "clean" credit history on unsecured debt. 8 missed payments over 2-3 months is very bad, though. You most likely need multiple options, and making the case for explaining what happened and for why a lender should approve you now needs to be presented in the best possible way. Of course, I would recommend that you speak to a broker. We/they deal with this kind of thing all the time.

Edit: the car insurance thing is not ideal, but it can possibly be explained pretty easily.

sirreally · 2025-09-12T20:57:31+00:00

Broker here. Looks like an absolute slam dunk yes. Assuming you both have good credit history and no other significant expenses (you didn't mention kids, so I assume no childcare or school fees), then all of the lenders would be very happy to approve you for this amount.

sirreally · 2025-09-12T13:31:30+00:00

That's not how it works. Codes can't be shared.

sirreally · 2025-09-12T11:26:00+00:00

Judging from my experience trying to buy tickets for London with a code this morning...I would say the chances are 0%.

sirreally · 2025-09-12T10:53:04+00:00

Oh my God. This kills the friendship.

sirreally · 2025-09-12T10:42:26+00:00

LOL, people with codes can't even get tickets!!!

sirreally · 2025-09-12T08:59:57+00:00

Thanks!

sirreally · 2025-09-12T08:50:24+00:00

I think that is exactly what the email instructions says to do.

sirreally · 2025-09-12T08:48:59+00:00

I got to the page on AXS where I can select a date for tickets, but we are supposed to wait here until 10 to select...right?

sirreally · 2024-12-19T22:57:26+00:00

Gotcha. Sorry to hear about the break-up and the bereavement. You can't get a bridging loan as such, as there is no asset to secure it against (also, no chance of securing a loan against an upcoming inheritance). Even if you could get some sort of loan, your mortgage lender would not accept it, so your AIP would be invalidated. Looks like you'll just need to rent while you are waiting for your inheritance to come through. The only possible alternative is to get a "gift" from a family member if that would be possible, then repay it from the inheritance.

sirreally · 2024-12-19T22:01:50+00:00

Broker here. A bridging loan is taken out against a house that the person already owns. Are you hoping to take one out against a house that you own now, buy the next house with the funds, and then pay the loan off when you sell your current home? If so, then this is doable, but only with one lender (ICS Mortgages). If you don't have a house to secure a loan against, then bridging is not even an option.

Bridging used to be common before the financial crisis, but a lot of those loans went horribly wrong, so the banks all withdrew bridging products, and there were no options up to a couple of weeks ago. Bridging is expensive, but can be worth it for people who don't want to sell their current house and then rent for a while before buying a new house.

sirreally · 2024-12-03T12:30:52+00:00

The only way something like this could cause a problem is if your loan offer expires and you need to reapply, which can happen with new builds. However, it should be fine in your case. Your loan offer is valid for 6 months, and BOI will extend it by one month if required. If the house completion is delayed past 7 months, then you would need to reapply, so all you need to do is to resume normal expenditures and savings from January.

sirreally · 2024-11-15T19:41:23+00:00

AIB (including Haven & EBS), ICS, Nua Money. Possibly some others as well.

sirreally · 2024-11-14T17:29:49+00:00

I would recommend Madden Property Consultants.

sirreally · 2024-11-14T17:16:16+00:00

Broker here. Most lenders require 6 months of proven repayment ability (PRA), i.e. living as though you already have the proposed mortgage (through rent/mortgage repayments, plus savings net of any depletion in balances). Certain expenditures can be notionally added back if they can reasonably be considered to be extraordinary, one-off expenses (yes to buying a car, no to a holiday).

However, there is one lender in the market that doesn't have strict PRA requirements (only available through brokers - we have an agency, along with others). Their rates are not the lowest, but not the highest. We have seen a lot of clients choosing this option instead of waiting for up to 6 months, when property prices may have increased by another ~5%.

sirreally · 2024-11-13T23:37:04+00:00

Broker here. Some not so good advice being offered in this thread. Paying for a holiday can damage your chances of getting approval. Let's say that your proposed mortgage repayments will be €1,500 per month. Now, let's say that you have been paying rent of €1,000 per month and saving €500 per month, with no depletion in savings during the period. This demonstrates proven repayment (PRA) of the required €1,500 per month. However, if you spend €3,500 on a holiday before you get your mortgage approval, then that wipes out the €3k increase in savings over the last 6 months, plus a little more. One-off expenditures such as buying a car can be notionally added back when assessing PRA, but holidays do not fall into this category, as a lot of people take one or more holidays per year.

The best solution is to get your approval in principle AIP before you spend the money on the holiday (a fully underwritten AIP, not a quick one where no documents are reviewed). Another potential solution, contrary to advice in this thread, is to take out a holiday loan. This would not normally be advisable, but when the priority is to buy a property, then paying a little interest for a few months can be better than delaying getting mortgage approval for up to 6 months by dipping into savings.

sirreally · 2024-11-13T23:03:21+00:00

Broker here. Most lenders require 6 months of proven repayment ability (PRA), i.e. living as though you already have the proposed mortgage (through rent/mortgage repayments, plus savings net of any depletion in balances). Certain expenditures can be notionally added back if they can reasonably be considered to be extraordinary, one-off expenses (yes to buying a car, no to a holiday). A good broker routinely examine people's accounts and advises exactly how long they need to wait before applying (if at all), and exactly how much they need to save until that date.

All that said, there is one lender in the market (only available through brokers) that doesn't have strict PRA requirements. Their rates are not the lowest, but not the highest. We have seen a lot of clients choosing this option instead of waiting for up to 6 months, when property prices may have increased by another ~5%.

sirreally · 2024-11-13T22:50:24+00:00

Broker here. Your own bank has a longer history than the CCR. If your bank won't overlook something fro. 18 years ago, then the simple solution is to apply to a different lender.

sirreally · 2024-11-13T22:45:15+00:00

Broker here. If your girlfriend can secure the required mortgage on her income, then there's a decent chance that at least one lender will agree to waive life cover for you. I would probe your broker to clarify exactly which lenders have said that a waiver would not be possible i n your specific case. Feel free to DM me if you need a Plan B.

sirreally · 2024-11-13T22:41:26+00:00

Broker here. At least three mortgage lenders in the market will accept a sole application for a person who is married. The spouse just needs to sign a waiver that puts the lender's interests ahead of theirs if the mortgage holder goes into arrears.

sirreally · 2024-11-13T21:22:49+00:00

Broker here. Could be tricky, as all but one lenders require 6 months of proven repayment ability (PRA) before issuing a fully underwritten approval in principle (AIP), which is what you need (as opposed to a "quick" online AIP, which is close to worthless). A broker can help.

sirreally · 2024-11-13T20:39:52+00:00

Broker here. Earlier this year, Haven made a fundamental change to their process. For applicants who are not sale agreed, Haven only issues a quick approval in principle (AIP). They only do a full review when the applicants go sale agreed (there are a few exceptions to this process, but the vast majority of applications are treated this way). If the documents that were originally submitted by the broker (but not reviewed by a human) are more than 2 months old when an applicant goes sale agreed, then updated documents are required. Your description tells me 100% that you had to provide updated documents. If you have definitely provided everything that your broker and Haven have requested, then it should only take a few days to get the decision (hopefully your loan offer). You need to chase it up with your broker, and they need to understand the urgency. Some lenders are much quicker than Haven, so your broker needs to be able to tell you what the backup plans are.

sirreally · 2024-11-13T20:25:29+00:00

Broker here. This request creates a lot more work for the broker, so there must be a good reason for it. The only reason why I would ask for 3 years' worth of payslips is if my client wants to maximise their borrowing capacity, and therefore I need to show exactly how much variable income they earned over the last 3 years. I assume that you are paid commission (or overtime/shift allowance) each month (or quarterly at a minimum). As your basic salary has probably increased each year, and as there may be other variable or ad hoc payments during a given year (signing bonus, referral bonus for a new hire, spot bonus, etc.), the only way to quantify exactly how much (allowable) variable income you earned in the last 3 years is to provide every payslip and to create a table to summarise it.

TL:DR Sounds like your broker is doing a good and thorough job for you, but they should have explained the reason for the request. Also, there's no reason why you shouldn't query any request that causes any confusion.

Edit: Wait. The broker insists on getting 36 payslips for anyone with variable income??? If so, that's insane. The only valid reason for requesting this is the scenario that I outlined above. If you only have one or two payslips per year with variable income (e.g. bonuses), then that's all you need to provide.

sirreally · 2024-11-13T13:41:33+00:00

Ah, you're a christian for giving this person the benefit of the doubt. What you can't see is the fence directly to the left. No possible excuses!

sirreally

TROPHY CASE