Mortgage approval

A

Aisling95

Registered User
Messages
3
Hi,
We have AIP since March 2020, we had gone sale agreed on a house but it fell through because my partner was on wage subsidy scheme with work and the home owners wanted a quick sale. We have now gone sale agreed on a property he is off the wage subsidy scheme and we both have permanent good paying jobs. We applied to draw down mortgage yesterday, does anyone know is there any reason they wouldn’t allow us draw down and how long before you hear back? We are with EBS - thanks
 
They will want to see your latest payslips. Maybe your contact in the bank can give you an estimate of how long it will take them to issue the letter of offer?
 
We have given all payslips etc again to them. Just hoping no other reason they would not issue drawdown
 
Is the valuation done already? Insurance and mortgage protection in place and do they have proof? Every time you send them documents it can take them a couple of days to get them scanned and added to your file, and then a few more days to decide if anything is still missing. I found KBC pretty bad in that regard, so I had to call their mortgages team every couple of days to make sure it was in the to-do list. We found any missing document could add a whole week to the process.

Forgot to say: your solicitor would be used to dealing with them, so could probably give you a good estimate. She/he has to suggest the drawdown date anyway.
 
The valuer was out today so hopefully won’t be waiting too long for them to come back
 
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