I got mortgage approval a few months ago (I’ve been doing a bit of research so no intention of buying any time soon). I went through a well know mortgage broker and am now getting constant emails/phone calls from my “financial consultant” that it’s a great time to buy and I’m missing out if I don’t put an offer in right now. Obviously, I’m not going to be swayed by this but I’m just wondering if anyone else is coming up against this issue?
What did you expect?
This is not an issue.
Watch Glengarry Glenross.
Same principle applies.
2 friends of mine have permanent and (reasonably safe) semi-government jobs.
They applied for a €220k mortgage and got approval immediately - no problem.
It equated to about 4 times their combined income.
When they found a place and tried to draw down on the mortgage they got the inevitable refusal.
I suggest you do the same.
Find a place, apply for the mortgage … and when you are refused they will leave you alone.
1st question on any loan application is:
“have you ever been refused credit…”
I suggest the answer should be … ‘Yes, by an insolvent bank’.
How about - “Only once - but that was by a bank with less money than me.”
Or - “No - but my bank was.”
Hmmm, Id love to know what you do so I could ring you up and waste some of your time. Anyway why didnt you ring one of the main banks as they tend to operate on par with one another and so the answer from one would likely be similar for the rest? Or go onlie?
I’ll add to that banks criteria is changing on a regular basis and as you are not actually in the market but just doing research then you have both wasted the brokers time and your own as the approval you got is “approval in principle” making it subject to you meeting certain criteria and may be changed by the bank right up until loan offer. So lyour oan approval is in effect probably worth F*** All.
So before you ring up people looking for free advice just put your self in their position, I mean what did you expect them to do forget about you? You approached them they didnt go to you and now your complaining
The entitlement culture in this country is beyond belief
So helpful, I’m delighted I got in touch (sarc)
And we were delighted to have you.
Don’t worry Shakey. If you’re not savagely slapped down by TUG within your first few posts you’re doing something wrong.
get back on topic