Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Mortgage Problems

Options
  • 09-11-2010 5:47pm
    #1
    wetdufflecoats
    Registered Users Posts: 26 ✭


    Hi all,

    Just wondering if anyone could give me some advise re getting a mortgage for a self build and whether i'd have a chance of getting one?
    I'm on 40k gross with no loans outstanding and have my own site with FPP and a deposit of 20k?
    Is it a runner or would i need more of a deposit in your experience?

    Thanks in advance


Comments

  • Options
    #2
    mickdw
    Registered Users Posts: 23,356 ✭✭✭✭mickdw


    Depends on what type of job Id say and also how much cash you need.
    Realistically you have a site of value €x plus €20,000 so If you have a bullet proof job Id say you would get a small mortgage


  • Options
    #3
    braftery
    Registered Users Posts: 242 ✭✭braftery


    Interesting question ... and the lack of response is interesting too.

    From word of mouth it is a pretty arduous task to get mortgage approval these days but I am sure it is still possible.

    Why not simply go talk to the bank(s), I am pretty sure they will be all positive at the outset and they will outline pretty quickly the limits they can offer you based on your circumstances.

    Whether or not, that initial outline will turn into an acutal formal offer I am more circumspect about.

    Good luck with it and if you are willing, I for one would love updates on how you get on ! Not the details but just what hoops they make you jump through


  • Options
    #4
    Gillo
    Registered Users Posts: 5,566 ✭✭✭Gillo


    As brafferty said, you're best bet is to hit all the banks, no harm also in trying a broker, they might be able to advise you before you send the application in.

    The worst the bank can do is say no.


  • Options
    #5
    JuniorB
    Registered Users Posts: 379 ✭✭JuniorB


    Talk to a broker - they should give you a ballpark yeah or neigh pretty quickly. On figures given I'd say neigh (3 times salary =120 +20 - you wont build much for 140k) but best of luck anyway. Having no current loans etc is a huge plus.


  • Options
    #6
    LoTwan
    Registered Users Posts: 608 ✭✭✭LoTwan


    I read this last night and thought straight away "It depends on what you are looking to borrow". I have decided to not apply for a mortgage at the moment because of how bad the situation has become. I would rather not know than hear "No"


  • Advertisement
  • Options
    #7
    braftery
    Registered Users Posts: 242 ✭✭braftery


    Banks are in the business of lending money ... the only reason they are lending less now is that they dont have any !!


  • Options
    #8
    wetdufflecoats
    Registered Users Posts: 26 ✭wetdufflecoats


    JuniorB wrote: »
    Talk to a broker - they should give you a ballpark yeah or neigh pretty quickly. On figures given I'd say neigh (3 times salary =120 +20 - you wont build much for 140k) but best of luck anyway. Having no current loans etc is a huge plus.
    Jeez i hope they can give me more than that anyway...was looking for about 200k!!


  • Options
    #9
    LoTwan
    Registered Users Posts: 608 ✭✭✭LoTwan


    wetdufflecoats wrote: »
    Jeez i hope they can give me more than that anyway...was looking for about 200k!!

    We earn a decent amount more than you and have no debts and they won't go near us for that amount :(


  • Options
    #10
    muffler
    Registered Users Posts: 46,091 ✭✭✭✭muffler


    Moved from Construction & Planning forum


Advertisement