Irishman2000
Registered User
- Messages
- 9
Fully agreed. But whether you go to a advisor in the bank, or a broker, it's going to be the same underwriters that make the decision. It's about getting the explanation into the cover letter that the underwriter sees that's key.The discretion open to advisors in banks has been greatly reduced in recent years
Out of interest, who advised not to pay it off?were advised not to pay it off
Out of interest, who advised not to pay it off?
Having personal loans outstanding can weigh heavily on affordability calculations. But understandable that you need to have the 10% deposit.
Surely the €500 loan was only the tipping point and not the sole reason your rejection. Are you already at the limits of loan to income ratio of 3.5?
You don't mention your joint income but there seems to be a bit of a disparity between only having €22k in savings and currently saving €1450/m. Is the €1450 your affordability (i.e current rent + savings).
How time critical is the purchase? Can you wait 6 months, clear your current €3k loan and go to a broker instead who can paint your application in a more positive light?
You're dead rightIt is possible to appeal undertakers decisions so I hope anybody reading this after being denied a mortgage can see that there is hope in the end
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