Mortgage Approval from EBS

K

killester

Registered User
Messages
20
Myself and my partner got mortgage approval from EBS last November. At that time we completed the forms, gave payslips, letters from our employers and proof of savings- EBS then gave us mortgage approval. Our new home should be ready around sept time. Is there anything else we need to give or do with EBS before they release cheque? I am thinking of moving jobs and I am concerned that if EBS find out I have moved jobs/in new job for short period of time they wont release checque. Any advice/feedback appreciated.
 
killester,
They will need fire insurance, mortgage protection policy, etc also. They key issue is did you sign up the offer letter and return it to them? If so, you need to find out if the offer has gone to completion stage. If this is the case, they shouldnt need addtional info from you
 
Hi there,

My partner changed jobs while we were waiting for our house to be ready and although we had written loan approval etc. we had to go though the whole craic again (salary cert, 1 million payslips etc.). There was also an end date on our loan approval. I rang them once we went over that and your man said not to worry about it it would still be valid. I insisted on something in writing from them to confirm the loan offer was still valid though...
 
killester - why are you going with the EBS out of interest? They are far from the most competitive lender on the market. See the best buys list in the area for other mortgage rates.
 
Killester
Myself and my partner got mortgage approval on an apartment nearly 18 months ago now (yes we're still waiting to draw down the mortgage) and I have recently changed jobs. Our broker says we'll just need to update the lender with our current job status etc. along with the other relevant documentation but as we still both have permanent jobs (and are on better money than when we got the mortgage approval) it will be fine - especially as I will have been in the new job for at least three months by the time we draw down the mortgage and they're only looking for three month's wage slips.
 
why are you going with the EBS out of interest? They are far from the most competitive lender on the market. See the best buys list in the area for other mortgage rates.


Can't believe you could say that. EBS have been consistently in top 3 lenders since approx 1990 with exception of about 2 years when Bank of Scotland entered the market. Promotional gimmicky rates serve no purpose. Also there is always the chance of demut. On the other hand I'd never deal with Irish Nationwide unless you are desperate.
 
EBS have not be the most competitive lender or anything near it for a good while now, particularly with the advent of low margin tracker rates. The dont not feature in any of the current best buy lists (all variable owner occupier mortgages listed are trackers) although it looks like they [broken link removed] which I wasn't previously aware of. Fair play to them for abolishing discounted introductory offers. However claiming kudos for having the lowest standard variable rate is a bit misleading when, at 3.25%, it is so much higher that other alternatives on offer. I say all this as a member and former mortgage holder with them and who is still committed to their mutuality and who has written to the society about these and other matters (e.g. current account mortgages, daily calculation of interest rates, more competitive trackers etc.) several times in the past. However, in general.
 
How can they say this [broken link removed] then ?
 
Last edited by a moderator:
EBS offers Best Value Homeloans...

The simple fact is that EBS now offers the best value homeloan standard variable rate mortgage in the market and new mortgage members will also benefit.
Click to expand...

They offer the lowest standard variable rate - i.e. a variable rate available to any customer that they will take on and with no additional LTV or mortgage size limitations. However, at 3.25% APR, this is simply not the best value variable/tracker rate on offer and, in many cases, borrowers will find better value elsewhere.

Over the last 10 years EBS has consistently outperformed the competition, offering the best value homeloan in the market.*

* Source: Irish Print Media. Rates independently verified by Ernst and Young.
Click to expand...

I'm not familiar with this source but would be interested in reading the relevant reports to see how they claim to be the vest value over 10 years. I don't really believe that it's that simple to be honest - especially in recent years. It may be that they have had one of the most competitive standard variable rates but this does not mean that better value "non standard" rates are available elsewhere to many (most?) lenders.
 
You must log in or register to reply here.
Back
Top