Below is an excerpt from an interview with Joey Sheahan from MyMortgages.ie on 96FM with PJ Coogan, discussing the possibility of getting mortgage approval while in receipt of Covid-19 state payments. See link below to hear the full interview.
‘…..Can you get a mortgage approved ? Yes you can. If your employer is on the Wage Subsidy Scheme or if you are on the (Pandemic) Unemployment Benefit, yes you will still get approved.
….You take a builder and somebody working in a bar earning €40, 000 a year each. They are currently both unemployed earning €350 a week, we can get approval for them based on their full wages. However, the bank will want them to produce a payslip later in the process before they release funds showing that they are back to work.
So yes, you still can get a mortgage approved. ……We have a number of banks that will approve on that basis’.
Click on the link below to hear full interview.
Source: 96FM 18th May 2020