Mortgage approval

beertons

Please move if this is in the wrong place.
My partner and I went for a mortgage for €275,000 two weeks ago with two different banks. One of them rang me yesterday and said they have approved our minimum. I asked what would be the max the would allow us, just out of interest. I was told €465,000.

How are banks still lending these outragous amounts. Betwen the two of us, we earn €85,000, and repeyments on the lesser amount still come to €1,000 a month each. On a brighter note, we're going house shopping at 3, and we're bidding way under what the vendors want!

Jay D

firstly was it a broker rang on your behalf?


never trust them.

beertons

Nope. We had 2 interviews, an hour apart, on Sept 3rd. I don't agree with middlemen, when you can get the job done yourself. (If I can't do the job, middlemen are great. Had to cover myself there!)

ntlbell

beertons wrote: »

Nope. We had 2 interviews, an hour apart, on Sept 3rd. I don't agree with middlemen, when you can get the job done yourself. (If I can't do the job, middlemen are great. Had to cover myself there!)

What about when the middleman can get the job done and save you a few k?

beertons

When I put it to one, he said I had the better offer. He made a call, hung up, and said go for it. Although if I paid him for his advice, might he have come out with a better offer?

ntlbell

beertons wrote: »

When I put it to one, he said I had the better offer. He made a call, hung up, and said go for it. Although if I paid him for his advice, might he have come out with a better offer?

I've used a few and always got a better deal than the bank

maybe it's the "current climate"

shrug