# Covid subsidy and mortgage draw down



## Kem2020 (23 Jul 2020)

Will the banks allow draw down of mortgage now that TWSS has been extended to a reasonable time 
that should see business operating better? Opinions please


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## FCBC12 (23 Jul 2020)

Unfortunately I don't see the banks position changing on this. Applicants who are receiving the TWSS are excluded from the 3.5 times income affordability ratio, as their job is not considered secure. Is there anything in the announcement this afternoon that suggests otherwise? From the initial narrative on RTE, answer seems to be no.

The Help-to-Buy scheme has increased to 10%, and capped at €30,000 (up from 5% and €20,000). I wonder will this be backdated for applicants who are stuck in no mans land (signed contracts but unable to drawdown due to banks position on TWSS). My wife and I are in this category.


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## Kem2020 (23 Jul 2020)

Unfortunately i cant buy a house until my name is removed from a previous mortgage. There is a switcher mortgage in play at the previous house but funds cant be drawn down cos of one person being a subsidy, which means i can buy a house and may remain renting until its sorted... not great


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