Loan Offer

P

pinkstars

Registered User
Messages
153
Hi all,

Just wondering how long it takes to get an official loan offer from the banks/building socities.

Thanks
 
hi pinkstar,
i havent been to get approval yet so i cant answer you- i am planning on doing the banks next week.......did you go yet? and if so how did you find them to deal with. i'm very nervous as i've had some financal changes since i got preliminary approval
 
Hi Movingsoon,

To be honest if you have made a few changes as long as they are not drastic they shouldn't effect you too much - suppose if you took out some huge loan or got in big debt then they would have to have a look again but if they are minimal changes I am sure you should be ok - Myself and my partner are trying ESB who are extremely attentive to your needs and we had a few minor changes but they dont seem to be bothering our application process. Ofcourse in relation to the my above 4 sentences they are based on my opinion if anyone else has more factual info then i hope you will get there advise.

Rgds,
Red Devil
 
thanks red devil,
i was hoping to try the ebs as well, as i have always found them a pleasure to deal with.
with regards to my changes in finances i have had 2 developments- i have taken a 4000euro loan since getting ebs preliminary approval of 200,000. i am going for a morgage of 189,000 so i hope ill be ok but a broker told me that this could affect my borrowing amount by 16,000 to 20,000.
the second is i now have 2 dependants instead of 1 and i have gotten very conflicting advise as to whether this will affect the amount i can borrow
any opinions greatly appreciated
 
Hi moving soon,

Myself and my partner went to an indepenant broker but I was not really happy as I wanted to get an EBS mortgage 100% which he could not do for me. EBS staff seem to be very helpful and attentive to persons needs, I would recommend them. I'd say fingers crossed you should be ok. To be honest I don't know how easy/hard the process is from now and I am very wary myself!!!! Fingers crossed we'll get AIP tomorrow. I just think the waiting til everything is signed is a killer.
 
wont take long to get an offer depending on whats on the aip condition wise, how long the valuer takes etc
 
tabris6ie said:
wont take long to get an offer depending on whats on the aip condition wise, how long the valuer takes etc
Click to expand...

Well we were told the valuer would be going down next week...........once we get an AIP and then we will be starting with the formal loan, really hope its not too long..
Thanks
 
there may be a few conditions on the aip but if you've pretty much given them all they asked for initially, you may go straight to offer, photo ID, address verification, salary certs/p60s/payslips, current accounts, loan statements if you have any loans, shouldnt really be looking for much more depending on your circumstances. best of luck
 
Thanks so much for that.....ordered loan statements today so should have them early next week if they are needed, she said all I needed with them was photo id so I suppose just can't do anymore just wait and see!
Cheers
 
I initially went to a broker (recommended by auctioneer!! think they were mates), found them absolutely useless, no communication, would not answer any of my emails or return my calls. I went to each of the financial institutions AF is limited to and found EBS to have the best rate and the mortgage advisor to be really helpful, I got my approval in about a week. Based on my dealings with them Id definitely recommend them...
 

Yea the guy we went into the other day (Broker) literally offered everything we didn't want and offered none of what we wanted.
Also very unclear with what he was offering us and at stages even blatantly ignored questions we had instead pretending he was focusing on his computer - have to be careful with brokers as these guys dont work for free its all in the interest rates there fees !!
 
the brokers make money from a percentage of commission depending on the amount you borrow, nothing to do with the interest rates. ive worked in admin for a few and they're not all bad but yes, like any other business you have to be wary of the cowboys and do your own research. i think for the affordable though, even i'd go to the banks direct rather than using a broker. you've a smaller amount of banks available to you unlike a remortgage so not as time consuming.
 
Hi,
Is there anybody currently taking out a mortgage with EBS?
Do the rates you have been offered match with the rates on the online calculator

or are people getting better offers on a local basis with branches?
I am being offered through a broker(who I am happy with generally) and so was wondering would I be better to go directly to a an EBS branch?
Or are the rates the same for everybody applying now?
 

I was going with a mortgage broker and was going to go with EBS Haven but unfortunately the council don't accept this at the moment, so went directly to EBS. The brokers only deal with EBS Haven. Sorry not sure about interest rates though - did think they were lower going directly but don't have the rates to hand at the moment..
 
Hi
I have gone with EBS and hope to close in the next couple of weeks. I went with the one year fixed rate of 4.74% which i think is quite good at the moment. I don't think there is any difference in the rates if you go through a broker or go directly. I think EBS were very helpful and the process was straightforward so IMO it's probably easier to go directly. Best of luck to you!
 
PinkStars & MissG,
Thanks for yer help. I am close to drawing down too but think I'll give EBS a ring directly and see if they say there could be any difference. My biggest problem like others on here is they insist on 5 year fixed which I'd prefer not take at this time.
 
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