looking for a loan ?

[john m]

Talking to a fella today he was saying his Kid had applied for a Mortgage through a broker .Broker advised when asked about banking do not say you have a Revolute Card or Pay Pal account dont have them on your bank statement as the banks dont like to see money going into or out of an account that cannot be accounted for he also said do not set up direct debits for Credit Union repayments as the banks will say that you are indebted count against you getting loan approval .His Kid has a car loan and was advised to pay it off as the banks will see it as a Priority loan that will be paid before them as it already is in existence .Looks like the Banks are fighting back against the new cards .

[Dr. Martin Gooter Bling]

could be the bank's dirty big rigmorale in case they think you're a pikey lookin to scam some quick bread as well.

[watty]

You'd wonder how much truth is in those stories.   A year or two ago, it was all about sending money to/from gambling apps like Paddy Power.

On the flip side, banks and credit unions are full of cash that they don't actually want.  I'd imagine banks would only be too happy to lend it out on a 30yr mortgage.  Problem is getting the deposit together.  You'd need ~€50k in cash or more before the banks would talk to you.

[Jack Meoff]

See a taxi in Cork this week a 191 Tesla model 3.
45k plus.
The bank would laugh at me if I asked them for that money.

[dalymount]

Well I actually had it,and gave it back because of the uncertainty,both with covid,and weither or not I was staying in the game.the amount of hours I do would never justify it anyway

[mercenary for hire]

Yis might be surprised how they work.. I moved gaff a few years ago and I put a decent bit of work in and they gave me no extra funds even though I proved with job printouts that I could work if I needed to.All they go on is your previous tax returns.

Nothing wrong with Revolut.As long as you are providing the bank with comprehensive statements they'll be sound.Gambling accounts were always a red flag.Would you give a 300k loan to someone who bets on which brown horse is slightly faster than the other?They're just being careful.

I think someone mentioned the credit union and car loans.They're not gonna loan you a quarter of a million if you're up to your rocks in other debt.Be honest and they'll hand it out if you deserve it.If they ask for 6 months statements give them 12/24.

[mercenary for hire]

See a taxi in Cork this week a 191 Tesla model 3.
45k plus.
The bank would laugh at me if I asked them for that money.

He would be entitled to 10k off the NTA with the leccy grant.Same price as a new Superb/Prius.

[john m]

The lad I was speaking to was with MABS for years but after he left he gave advice to community groups on refinancing .He says MABS is designed to make sure the CREDITORS get as much as possible of their money returned when some people are drowning and need a different type of solution .He was saying that Credit ratings are being ignored a bit but Ability to pay is being used .They sort of work backwards add up all your outgoings like Car ,Car insurance ,Health insurance .Credit Card (any payments to credit cards are deemed to be loans even if you clear it every month )Then they ask about any Maintainance payments ie Wages to your Hen or yer one what minds yours and hers .Then they subtract that from your earnings apply a Mysterious multiple to it then come up with a figure of what you can afford to borrow and repay .He says Banks or Lenders dont like to see Pay Pal or Revolute of Crypto Currencies in your account as they have no way of checking where those funds came from or are going .

Anyhoo his advice was/Is if you are in Difficulty Prioritize your Mortgage above all else talk to your provider if you cant pay .There is a huge Legal difference between Non Payment (refusal to pay )and informing them of your circumstance and asking for a break or an interest only break .Most Car loans are lease agreements and can be renegoated pushed out for another year .Credit Cards are Unsecured Loans the Card companies can borrow money almost interest free so will freeze your account and Negotiate with you to recover their principle over time .Bottom line is talk to them if you have money troubles they will listen and dont take no for an answer they really want all their money back but will settle for less .

[Jack Meoff]

Forgot about the grant, hope he got one

[john m]

Forgot about the grant, hope he got one

In motoring Mags world wide the Tesla does verry verry badly for reliability .To much new untested gadgetry .

[mercenary for hire]

I thought this was about successful loan applications not avoiding paying them off.How did we get here?

[john m]

I thought this was about successful loan applications not avoiding paying them off.How did we get here?

I do appreciate your inability to Comprehend .But they calculate your ability to pay differently when Making you a loan or Servicing existing loans .The System is now based on Ability to repay not some mysterious Credit rating that was gerrymandered to make the figures look better than they were in reality .

[mercenary for hire]

I've never worried about credit ratings.Maybe it's an old fashioned way of thinking that you have stuck in yer head Erm.They want to see inside your finances..it's been like that a long time.I should know after two successful mortgage applications.Painfull process.

[Jack Meoff]

3 mortgage applications and no problem with any of them

[dalymount]

When you think of the interest being charged by these banks on morgages,car loans etc it is absolutely outrageous the way they grill people wanting to know what you had for your breakfast.apart from that,I thought we,the tax payers own the banks now ?