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Another mortgage newbie..

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  • 07-03-2010 8:07pm
    #1
    Praetorian Saighdiuir
    Closed Accounts Posts: 10,968 ✭✭✭✭


    Hey all,

    Im a regular lurker here and I have to say, iv taken onboard a lot of advice that has been given by you all to other posters. I am hoping that I will get some good advice now too.

    Myself and my GF are applying for a mortgage in August...but is it the right time, and what do you think out chances are?

    Im 29, public servant (I know, sorry), i earn around €40k a year tops, no debts, good record of savings, good credit rating.

    GF: 27, self employed last 3 years, good profit made in first 2 years trading, small business loan being paid on time every month, plus extra payments being made. good credit rating. Business and private credit card payed off in full every month, no other debts.

    We are both living at home and by August will have managed to save €50k between us in 3 years.

    We are hoping to go to a bank in August, but im starting to think that I should wait until next January.......good idea, bad idea???

    All advice will be much appreciate.

    Thanks BW


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    #2
    miss luce
    Registered Users Posts: 21 ✭miss luce


    im no expert, but it sounds good to me. the banks love savers!!! we are the total opposite of you guys...........zero savings!!! im sure that theyll offer you something, and if not, then theyd def advise you on what to do. if it was a few years ago, i suppose no doubt would have entered your mind, and you just would have presumed the bank would say ok. good luck with your mortgage:)the only thing they might not like is the fact that your partner is self employed, as is my partner.


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    #3
    kennyb3
    Registered Users Posts: 6,724 ✭✭✭kennyb3


    more info defo needed - how much do you want to borrow €200k or €500k (just an example) - obviously that will have a huge impact on any answer given.

    Also when you say good profit for self employed - is this before or after drawings and how much did she draw. Expectations for year 3?


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