Hi there,
We are moving to Ireland from the UK and are trying to apply for a mortgage with multiple banks and through multiple brokers and each and every time it comes to the Proof of Affordability Test they all do, they end up not being able to offer a decent amount of money - not the amount we need anyway (the same amount as we have as a mortgage here in the UK). It is really dramatically different from the UK in that this strict testing isn't done and there are no problems whatsoever.
Does any of you know of a mortgage provider that does no do this stress testing / Proof of Affordability testing, or is perhaps a lot more relaxed about its limits and percentages in terms of stress testing?
Thank you,
Alexander
Alexander,
Those guidelines/rules are set by the Central Bank of Ireland, so you won't find a bank that won't look for proof of affordability. Sorry to say. It is quite strict.
Liam