Personal loan approval when on stamp 4?

[meldives]

Has anyone received approval for a personal loan (or been rejected) while on a stamp 4? I'm specifically interested in people's experiences with Ulster Bank.

I applied for a loan with Ulster bank and they approved it, but wanted to see my visa in my passport. I have 5yrs of stamp 1 and my first stamp 4 which needs renewing next month. As an australian, i don't speifically need a visa, just orginally my work permits. I have applied for citzenship based on five years on stamp 1 (work permit). The bank have today, just as funds were about to be drawn down have said they need to escalate the question. What they want to see is a stamp in my passport which will cover the duration of the loan - which really doesn't exist unless i apply for LTR which will take months (or wait another 3yrs until i have indefinaite leave to remain)

I have previously had two personal loans with another bank and i have a mortgage. Seems crazy a bank will give you a mortgage for 30yrs and yet when you supply them with the same information they are on the verge of revoking my personal loan approval.

If they do so, i will be putting in a complaint on the grounds of discrimination.

[CalvinKlien]

I think this forum is for immigration related issue and not for personal banking

[meldives]

Well, this is an immigration related issue as they are potentially refusing my loan based in the fact that i am foriegn national, and i wanted to know if any other foriegn nationals have experienced the same issue, or alternatively been granted a loan while on a stamp 4.

[CalvinKlien]

FYI - I am on stamp 4EUFam for the past 6 years. Last week, I have applied for loan of 5000 Euros, in AIB and it is refused, I work full time in a professional job. my salary go to AIB and without giving any reason, they have refused my application.

Next day, i applied in bank of ireland and got the same refusal letter. I have a good history with both banks, always paid off my credit card bills and previous loans on time.

The problem with Irish bank is like an old man, who will be very hesitant to give you 5 Euros and when in a good form he will give you 50000 without any problem. The Irish economy is f**** by politicians and by these bankers, who will lend millions to builders (who will never return this money) and not few hundred or few thousand to an ordinary person.

[Kinto]

Well, this is an immigration related issue as they are potentially refusing my loan based in the fact that i am foriegn national, and i wanted to know if any other foriegn nationals have experienced the same issue, or alternatively been granted a loan while on a stamp 4.

I'm not a lawyer, but I know that banks reject mortgage applications from foreign nationals not on stamp 4. Why do you think stamp 4 grants the right to get loans from banks?

[meldives]

I have previously been granted 2 personal loans while on stamp 1 (work permit) which is more restrictive than stamp 4

The issue currently is that the bank want a stamp in my passport that covers the duration of the loan. A stamp like this just doesn't exist unless i apply for LTR or have 8yrs residency.

I provided the bank today with a copy of the DoJ guidelines for 5yr workers where it says the stamp is renewed annually. The relevant sections were highlighted and signed & stamped by my immigration officer.

Surely this is not the first time the bank has had a stamp 4 holder apply for a personal loan.

I'm not just doing this for myself. How would you like it if the bank say, yep, no worries, come in and get your money. Oh, actually, i see you stamp 'expires' in 3mths - sorry, forget about it.

[adelmurray]

I have previously been granted 2 personal loans while on stamp 1 (work permit) which is more restrictive than stamp 4

The issue currently is that the bank want a stamp in my passport that covers the duration of the loan. A stamp like this just doesn't exist unless i apply for LTR or have 8yrs residency.

I provided the bank today with a copy of the DoJ guidelines for 5yr workers where it says the stamp is renewed annually. The relevant sections were highlighted and signed & stamped by my immigration officer.

Surely this is not the first time the bank has had a stamp 4 holder apply for a personal loan.

I'm not just doing this for myself. How would you like it if the bank say, yep, no worries, come in and get your money. Oh, actually, i see you stamp 'expires' in 3mths - sorry, forget about it.

i understand your anger and frustrations , unfortunately there's nothing you can do about this at this stage . as you know the Irish Economy is very weak , no thanks to the very people who refused your loan .

i remember a few years back i think it was 2006 , when i was offered a loan of 14,000 Euros , without even applying for it , i just logged online to check my balance and there it was a message saying that i had been approved for a loan of 14,000 euros , so i clicked yes i accept ... 2 days later i received the pack of contract to sign and return to them ... which i did ... 3 days after i posted that letter back to them i checked my balance and there it was 14,000 euros in my account ... they never asked for any proof if adress , or payslips or anything like that , not even proof of ID ... it was a simple as that . never mind GNIB Card they didn't even know about it then lol lol lol .

that was just my story with the Irish banks when they were Recklessly lending a lot of money to anyone and everywhere )

there you go don't take it personally , they are just very cautious these days that's all .

but keep trying and keep arguing with them you might get somewhere ..

Good Luck