Are there many banks mortgage lending at present?

[mwhich]

Hi guys, just wondering if there are many banks lending at present or is credit tightening even more. I see that KBC are advertising mortgages again. Is this real or just a PR stunt? thanks

 

[thedaras]

I recently "switched" from PTSB to KBC,and had no problem..

 

[NorfBank]

I think the title is now ok?

In response they are all lending if you pass their guidelines.

1) Prove you can afford the stress tested future mortgage repayments
2) Have adequate savings
3) Manage your current account in a consistent manner
4) Secure / long term employment
5) Have enough net disposable income to live on after mortgage is paid.

If you are borderline then you will not be approved but if you come back in 6 months after knuckling down and getting your affairs in order then you more than likely will be.

I remember reading with surprise the PIBA report and the screaming headlines of 40% of all mortgages being declined. I think this is more down to brokers sending applications that have no chance of approval to the lenders than the actual lending policy at the banks.

[broken link removed]

 

[TheJackal]

In response they are all lending if you pass their guidelines.

1) Prove you can afford the stress tested future mortgage repayments

What is the current stress test precentage used by most banks?

5) Have enough net disposable income to live on after mortgage is paid.

What % figure is used here?

 

[NorfBank]

average 2.50% above variable - varies bank to bank.

% NDI is dependent on lender too - average 1000 per adult, 250 per child.

 

[mwhich]

Cheers NorfBank

 

[TheJackal]

average 2.50% above variable - varies bank to bank.

% NDI is dependent on lender too - average 1000 per adult, 250 per child.

Thanks.

1000 seems quite steep. I only need half that to live off comfortably each month!