# Are banks still giving loans?



## dustie (14 Dec 2008)

Hi,
My boyfriend is currently looking to buy a car but has changed jobs recently.. he was unemployed for a few weeks but got a new job that involves commuting.. therefore needs a car. He has saved about €1000 but another €1500 would really improve the type of car he could buy and relability is important as he's commuting approx an hour each way to work.

My question is about bank loans.. are any of the banks still lending? As he has a gap in his pay from a few weeks ago this is being held against him. (He applied for dole but never received any due to the backlog). Would it help if I guaranteed the loan? I'm on a good salary, permanent in relatively stable company. Any suggestions would be appreciated.


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## ClubMan (15 Dec 2008)

> *Are banks still giving loans?*


Yes. Subject to the applicant's circumstances etc. as usual.


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## gallogly (15 Dec 2008)

yep - got a personal loan from BoI last week.


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## PaddyBloggit (15 Dec 2008)

I got mortgage approval last week.


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## smiley (15 Dec 2008)

Of course they are! I got a loan approved very quickly last week. No problems whatsoever.

The media are trying to give the perception that nobody can get money. Total rubbish.


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## Stifster (15 Dec 2008)

I rang AIB to enquire about topping up our PPR mortgage (below 50% LTV all things considered) to reduce a Buy to let mortgage. The guy in the commercial section didn't have a problem with that and is to call me back, however the guy in home loans said he didn't think they'd be on for releasing funds on the family home.

It should still be less than 50%, will be cheaper for me AND they will be getting some more capital back. How scared are they of the phrase that thou shalt not utter its name (or something).


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## seantheman (15 Dec 2008)

has he tried tesco finance? i thought they were still the best for this type of loan


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## ClubMan (15 Dec 2008)

dustie said:


> I'm on a good salary, permanent in relatively stable company. Any suggestions would be appreciated.


Could you lend him the money?


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## Bronte (16 Dec 2008)

Stifster said:


> I rang AIB to enquire about topping up our PPR mortgage (below 50% LTV all things considered) to reduce a Buy to let mortgage.


  You may have your reasons but the other way around would make more sense tax wise.


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## Luckycharm (16 Dec 2008)

seantheman said:


> has he tried tesco finance? i thought they were still the best for this type of loan


 
Except it takes about 2 months for them to process any loans!!


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## Stifster (16 Dec 2008)

Bronte said:


> You may have your reasons but the other way around would make more sense tax wise.


 
It was remortgaged already, i am looking to bring the mortgage back to the original loan amount.


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## Towger (16 Dec 2008)

If you want some fun... Ring a bank looking for a loan to buy shares in that bank, telling them that their shares will be the collateral. See how far it will get you


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## Bronte (17 Dec 2008)

Stifster said:


> It was remortgaged already, i am looking to bring the mortgage back to the original loan amount.


  Why?  I don't want to go off topic so maybe you should start a thread on it so you get other people's advice.


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## Bronte (17 Dec 2008)

Banks have not stopped giving out loans.  What they have done is tightened up the borrowing criteria.  Last year you could ring up, say the house is worth a couple of mil can I have an overdraft of 100K.  Reply yes immediately.  Today banks says woah there, we need valuer on your house which has decreased in value, you already have credit cards in debt, an overdraft, car loan and your business is not performing too well.  Also your spouse's job is in jeopardy so before we loan you some money we need to see if you can repay it.  This is the change, the banks are now loaning only if they think you can repay it whereas before they didn't care if you couldn't repay it.  In other words banks are becoming banks again rather than ATM's.


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