Hello, in the process of switching loan to Ulster bank.
12th March – solicitor received loan pack from Ulster bank
1st week April – solicitor received title deeds from current loan provider
6th May – I signed all the loan documents at solicitor's office (delay in signing due to physical distance measures being put in place at the office)
The day before my signing, Ulster Bank contacted me to request that I submit March and April current account statements, and to also sign a Covid 19 declaration document confirming with explanation if my income / employment had been impacted by C-19. Before I signed this declaration, I asked UB over the phone if C-19 change in circumstance would have any impact on the loan offer, they said that it would be highly unlikely, but that if I had have been on the C-19 Unemployment Payment then that scenario would more than likely affect the application. I signed back to document with the recent ststmentsand advised that my employer has availed of the C-19 wage subsidy scheme.
UB called me today to say that the mortgage draw-down request had been received from my solicitor BUT that since yesterday UB have changed their policy towards applicants who are supported by Covid 19 wage subsidy scheme! Such applicants are now being assessed as receiving Covid 19 Unemployment Payment. I am asked what can I do now to satisfy UB last minute revised policy? I was told that if I can submit a wage slip that shows the reinstatement of full salary paid by my employer, then that should be sufficient. I don’t expect my employer to be in a position to pay full salary without the subsidy until June or July time. He said he would check internally and get back to me.
I have accepted and signed the loan offer documents from Ulster Bank. Can they legally request more documents at this stage?
12th March – solicitor received loan pack from Ulster bank
1st week April – solicitor received title deeds from current loan provider
6th May – I signed all the loan documents at solicitor's office (delay in signing due to physical distance measures being put in place at the office)
The day before my signing, Ulster Bank contacted me to request that I submit March and April current account statements, and to also sign a Covid 19 declaration document confirming with explanation if my income / employment had been impacted by C-19. Before I signed this declaration, I asked UB over the phone if C-19 change in circumstance would have any impact on the loan offer, they said that it would be highly unlikely, but that if I had have been on the C-19 Unemployment Payment then that scenario would more than likely affect the application. I signed back to document with the recent ststmentsand advised that my employer has availed of the C-19 wage subsidy scheme.
UB called me today to say that the mortgage draw-down request had been received from my solicitor BUT that since yesterday UB have changed their policy towards applicants who are supported by Covid 19 wage subsidy scheme! Such applicants are now being assessed as receiving Covid 19 Unemployment Payment. I am asked what can I do now to satisfy UB last minute revised policy? I was told that if I can submit a wage slip that shows the reinstatement of full salary paid by my employer, then that should be sufficient. I don’t expect my employer to be in a position to pay full salary without the subsidy until June or July time. He said he would check internally and get back to me.
I have accepted and signed the loan offer documents from Ulster Bank. Can they legally request more documents at this stage?
