AIB has announced a policy U-turn that will see it accepting mortgage applications from those on the State’s Covid-19 wage subsidy from next week. However, such customers may still face significant hurdles in drawing down mortgages if they are in receipt of the subsidy. AIB’s previous policy, which was reported by The Irish Times earlier this week, had been to pause all applications from those in receipt of the subsidy. It follows pressure on the lender after The Irish Times revealed a policy of putting the brakes on all applications from those on the wage subsidy scheme. There will still be significant scrutiny of applicants in receipt of a subsidy before any funds are actually advanced.

Source: The Irish Times July 01, 2020 16:47 UTC