How long does it take to get mortgage approval?

After all the hassle with KBC we decided to throw in the towel on the mortgage app. But the local AIB branch got back to me last week and we have proceeded with them. Have all documents in to them now and can skip the AIP stage and go straight to letter of letter according to the lady dealing with it. We should have that next week. Such a pleasure to deal with compared to KBC. All documents in yesterday and letter of offer next Wednesday so one week in total!
 
Great news Cathbarr, best of luck, AIB I've always found great to deal with, my past two mortgages were with them and as banks go I never had any problems with them...but unfortunately they pulled AIP on us this time because of covid on payslip .....if you think of it let us know if they follow through for you
 

I had to apply for the mortgage on my own as husband is on the WSS. So we could not count his income. Luckily for us, we are only looking for a relatively small amount of money and my wages can cover it in their own. So we are good to go. She is hoping to have the letter of offer on Wednesday so I'm hoping it will be straightforward enough after that. Although noone knows what these things could throw up.
 
I really hope it runs for you.....we are only looking for 85k to complete our 385k purchase, its a misery
 
We are looking for a relatively small home improvement mortgage (whatever the correct term is) from Bank of Ireland. Got approval in principle over the phone, gathered all the documentation and went into local branch to ask address to post them to. Rang today to see what was next step or was more information required. Passed from Billy to Jack with pretty unhelpful staff. Apparently it was sent to the wrong address, nobody can tell me what has happened to all my private information or really seems to give a toss either. This is really turning me off the bank, am considering just applying elsewhere.
 
RentingD said:
This is really turning me off the bank, am considering just applying elsewhere.
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BoI have mortgage specialists the cover multiple branches in an area, the rest of the staff won't know what's going on. Phone the central mortgage team or arrange an appointment with the mortgage specialist that covers your area. From that point on you will deal with that individual only.
 
Thanks Leo, got in touch with our original mortgage specialist who is really helpful and is going to follow up on the issue. Printed and scanned all our info again so off we go!
 
Reactions: Leo

Any luck with this since apparently they have stopped taking the "covid" payment into account
 
I've spoken to 4 banks in the past 2 weeks (UB, BOI, KBC, AIB).

AIP across all 4 ranged from 2 working days to 6.
 
Waiting now for over a month with AIB - the issue is that they can't yet decide if they accept half of my bonus to be taken into account or not and ask every 1-2 weeks for something new. Sent on Friday the paperwork in regards to AIB's latest request to them and hope that was now everything....
Meanwhile the house we want went sale agreed today as far as I know - so we will need to revert to gazumping to try to get it still.
 
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We got all our documents into KBC last week. Confirmed on Thursday that they will now proceed to assessment and we should have a decision within 10 working days. Our last fixed rate monthly payment with BOI is Aug 15th so I hope we have enough time to get over the line assuming we get approval. If it takes longer I’m ok to go to variable with BOI for a few days/weeks up to until we close rather than fix in again.
 
We received mortgage approval with an exemption in February & then went sale agreed in March.
We got letter of offer from bank but then the sale fell through.
We are unaffected by Covid & both work in public sector.
We have since gone sale agreed on a new house but when we contacted the bank they told us we can only have amount on letter of offer which is 20k less than the new house.
Has anyone experienced this before?
Is it common practice?
 
Gazzaman said:
Any luck with this since apparently they have stopped taking the "covid" payment into account
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No luck Gazzaman, looks like the AIB reviewing TWSS recipients was more or less a PR thing, they still will not let you draw down if you are on the scheme I've been told.....already have full offer from KBC but same situation, cant drawdown, have returned contracts to seller having offered 360k cash (got cash help from family) on the 385k sale agreed price....was too stressful and we literally couldn't get any credit anywhere, pretty scarey TBH...anyway may look for a cash purchase or rent. Have to keep on going!
 
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